Three commercial properties in central Oamaru which could be worth more than $1.6 million are being offered for sale by the Waitaki District Council.
However, whether the council sells them will depend on offers it receives in a tender process being conducted by A. C. Spivey Real Estate, which closes on Friday.
Proceeds from any sale will offset the deficit in the council's property division, which includes a $3 million loan raised by the division as part of the council's contribution to the $9.7 million upgrade of the Opera House in Oamaru.
The buildings are the two-storey former Waitaki county council chambers at 19 Eden St, which has a current rateable value of $640,000; the two-storey Burtons building at 47 to 51 Thames St, which has three retail shops and a rateable value of $590,000; and the single-storey Bell building at 205 Thames St, with two retail shops and a rateable value of $400,000.
They are the only remaining commercial buildings owned by the council in central Oamaru.
Buildings like the Forrester Gallery, I-Site information centre and council chambers in the former chief post office are retained for strategic operational purposes.
The council's corporate services group manager, Stephen Halliwell, said yesterday the council decided in 2003 to sell the three commercial buildings on terms and conditions which had to be approved by chief executive Michael Ross.
It had now decided to offer them for sale by tender.
However, Mr Halliwell said they were put on the market before the global economic crisis and, despite strong interest, he was not sure how they would sell.
"If we are not satisfied with the prices, we don't have to sell them," he said.
