Council buys $2mil prime site

By Shaun Inguanzo
A PIECE of prime real estate in central Dandenong now belongs to the City of Greater Dandenong for a price tag believed to be in excess of $2 million.
The council announced the ‘strategic’ purchase of the Bendigo Bank site on the corner of Lonsdale and Clow Streets this week, but did not reveal its plans.
Greater Dandenong CEO John Bennie said the purchase was part of the council’s long-term vision, and would maximise its assets.
“Council’s fundamental role is to serve the community and the changes that will happen in Dandenong over the next 10 years will benefit residents, retailers, investors and visitors,” he said.
“The site is the main gateway to the Dandenong retail heart and the purchase signals council’s commitment to taking advantage of every opportunity that will in turn benefit the community.”
Mr Bennie said there were no immediate plans for the site and Bendigo Bank will remain operating from that location.
“This is a strategic move and one council is confident will have long-term community benefits.”
The council did not reveal how much it paid for the site, but it is believed the bid totalled more than $2 million.