The Launceston Council could offload a historic, multi-million-dollar CBD property to developers in a bid to inject life into the city centre. Some say it's just what the city needs, but others say it’s a misuse of public money on the back of a five point seven per cent rate rise.
00:00A beloved bookshop collecting dust. After more than 170 years, the historic book store closed in 2017.
00:11I have very fond memories. I remember going there for books for school, both as a student and also as a teacher.
00:19It's been a waste of space for a while. I think we definitely need something in there.
00:23Ever since Birchall's closed, it's just been really dead in the mall. No atmosphere and definitely not as many people.
00:32Launceston City Council bought the building for $8.8 million in 2020, but it's been sitting empty.
00:40Now it's considering handing the property over altogether to a developer, to the ire of some ratepayers who claim it's a reckless use of public assets.
00:50Well, it simply doesn't pass the pub test. It's a public asset. It's our money and it's not the council's money and they're not telling us what's going on.
00:58Behind me could be a four storey building with 21 apartments, eateries, shops and commercial space.
01:05The developer has defended the council's discounted arrangement.
01:09It's difficult to build anything. It's difficult to develop anything. We're taking a risk.
01:13We're pouring $15 million of our own money into this building to better Launceston.
01:19And they argue it wouldn't become a reality without the deal.
01:23If we had to pay large amounts of money for this building, it wouldn't stack up in this economic climate.
01:30The Launceston Chamber of Commerce isn't aware of the details of the deal, but supports the project after years of inaction at the site.
01:38The cost of ongoing inaction to develop the site will be far greater than $8.8 million.
01:44The Chamber added that it would foster a livelier, more attractive environment, encouraging people to live, work, visit and spend time in the central city.
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