As an institution established and governed by Victorian legislation, we are obliged to comply with Victorian Government policy and guidelines on the sale of land (Victorian Government Land Transactions Policy and Guidelines).
We must seek a Victorian Valuer General (VGV) valuation for the highest value of the land which is freehold interest with vacant possession. This is not the current zoning status of the land. The current zoning stratus of the land is Public Park and Recreation zoning.
We have also sought a VGV valuation for restricted use – which aligns to the current Public Park and Recreation zoning. For a sale to proceed at a restricted use valuation, the permission of the relevant Minister is required.
We are not permitted to publicly disclose any VGV valuations.
While we note that there is speculation about the VGV valuations in the media, we are not the source of that speculation, and we are not permitted to confirm or deny any such speculation.
We can confirm that we have shared the VGV valuations in confidence with Darebin Council, as is permitted by the Victorian Government’s policy and guidelines. We look forward to constructive discussions with Council on the proposed sale.
We have ceased community consultations on the future use of the land while these discussions are underway.