AFTER almost a million was paid for a tiny, run down ‘shoebox’ terrace in Surry Hills at the weekend no one should be too surprised any longer at what occurs in the world of real estate.
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And it seems that even Portland is not immune to what many would see as madness.
At the latest public information session on progress on the redevelopment of the former cement works site it was revealed that expressions of interest had been received for the old company cottages in Williwa Street and the dilapidated structure that was originally an annexe for the Lithgow Small Arms Factory during World War Two.
The buildings have been an embarrassment to Portland for many years.
As part of the cement works project the owners AWJ Civil were required to seek expressions of interest in these properties before proceeding with any application for demolition.
At the initial briefing the company warned of the likely costs as the buildings have been uninhabitable for many years.
But there are clearly people out there who enjoy a challenge.
Development Manager Kris Leck, from Catalyst, said that six EOIs had been received for the cottages and one for the SAF annexe which he described as ‘pretty good’.
There had also been some interest in adaptive re-use of the silos on the site.
Mr Leck said a report has been lodged with council and the company is now waiting on a response.
Talks were also under way with the Office of State Heritage that places restrictions on any refurbishment of listed buildings.
“We will then be having further talks with interested parties,” he said.
