City to investigate homemaker investment

A business case will be developed to assess the potential for City involvement in making the Gap Ridge Homemaker Centre a reality.

The project could see the City partnering with Landcorp to develop a lot at the Homemaker Centre as an investment that would see commercial rental returns from tenants.

The feasibility of the City investing in the Centre will be investigated through a rigorous business case, which will be assessed by Council in January.

City of Karratha Mayor Peter Long said the Homemaker Centre was an important development for the growth of the City and there may be an opportunity for Council to invest in the project.

“The City invests our significant savings in a range of different products and commercial property such as this could potentially provide good returns while being beneficial to local consumers,” Cr Long said.

“We will be sharpening our pencils and having a very close look at whether this stacks up before we make a decision on whether or not to invest,” he said.

“There’s certainly a lot of people who want to see this Homemaker Centre become a reality to bring new retailers and more choice to the City, however whether Council has a role in making that happen depends on the level of community support for Council to be involved and whether the investment is going to provide sufficient return on our investment.”

The Gap Ridge Homemaker Centre development is a Landcorp project which is currently 40% sold.

It will be the first big box retail precinct in the City of Karratha.

Council will assess the business case and feasibility study for investment at the January Ordinary Council Meeting.