Purchase of Emerald Agricultural College site not financially viable for council

At yesterday’s general council meeting, Central Highlands Regional Council decided not to purchase part of the former Emerald Agricultural College site from the Queensland Government.

In 2019, the college was closed and the site transferred to the Department of Agriculture and Fisheries (DAF). DAF operate the Central Queensland Smart Cropping Centre adjacent to the 405 hectares offered to council.

Over the past 5 years, council has met with DAF to explore the options and feasibility of purchasing the former EAC portion of the site, which includes the former campus and college land extending along the Capricorn Highway to Foleys Road.

‘After ongoing negotiations and years of detailed due diligence, feasibility assessments and community engagement, council decided today not to proceed with the purchase,’ Mayor Janice Moriarty said.  

‘This decision was not made lightly, but after weighing up the short and long-term benefits and impacts, the significant capital costs to develop the site, associated risks and the ongoing financial costs, council agreed that buying the site was not in the best interests of council or our ratepayers.’

Mayor Moriarty said many of the buildings would need to be demolished or required major work to bring them up to a basic standard.

‘Much of the sewerage, stormwater, road, fire safety, electrical and water infrastructure also requires significant work that would cost ratepayers tens of millions of dollars,’ she said.

‘To pay for this, council would have to significantly increase its borrowings, and potentially redirect money away from other core council projects and services.

‘Whilst not everyone may agree, ultimately purchasing and developing the site is not the core business of council and is best left to commercial investors who have the financial resources to maximise the return for community.

‘Council can certainly see the value and potential of the site, however in the current economic climate our focus is on getting back to basics, investing our community’s money wisely and putting this council in a strong financial position for the future.’ 

Council thanks the state government for the opportunity and has informed DAF of its decision, who will now consider other options for the future of the site.