Sale a sweetener but were staying
MARYBOROUGH Sugar is firmly planted in the Heritage City despite the rumour mill spinning a yarn about its uprooting.
Eyebrows were raised recently when For Sale advertisements for the company’s administration building in Kent Street appeared.
Chief executive officer Mike Barry said the company was looking to “extract some funds” through the sale of the building but would continue to lease it from the new owner, if it sold.
“The building isn’t a strong asset,” Mr Barry said. “A lot of companies don’t own their head offices.”
The future of the company’s multi-million dollar Mary Harbour development was on hold, however, pending the outcome of the regional development plan currently being undertaken by the Fraser Coast Regional Council and State Government.
“A lot of new developments have been stalled,” Mr Barry said.
“We’ve made a submission and are waiting on the outcome of the regional development plan, when we’ll see if (Mary Harbour) is considered part of the future.
“If not, then we’ll have to take a longer road.”
The factory owns a 175-hectare riverside cane field at Granville where its plan involving 1000 dwellings, 300 boat berths and a South Bank-style promenade is proposed.
The Mary Harbour project – touted as a complete residential, retail and leisure destination – was expected to create 2250 jobs and $90 million in salaries during the staged construction.
Mr Barry said the project would generate the necessary funds to acquire additional farming land to increase the total sugar cane production.