Statement from CEO Dale Dickson:
"I can advise that the City has now received confirmation from Care Park agreeing to terminate the tender process relating to the proposed conditional sale of the Surfers Paradise Transit Centre and Bruce Bishop Carpark.
The emergence of COVID-19 has been the last in a series of events that have ensured that the deal could not be finalised.
The City is proceeding to finalise a range of carpark rectification works by next month, and in due course will re-assess general market conditions before revisiting the question of a future sale process.
Whilst any such decision could be some years away due to COVID-19, I expect that the asset will remain a candidate for future sale with appropriate conditions attached, including the preservation of public parking.
In the interim, the City has more than adequate financial capacity to fund the completion of the HOTA Art Gallery.
Another impact of COVID-19 has been the loss of the Transit Centre's main lessee Statefield, in June of this year.
However, the City currently has direct tenancies in place for 24 of 33 available spaces, including Major Events Gold Coast."
