in Grand Hotel Three outside investors have shown an
interest in purchasing and developing Cobar’s
former Grand Hotel site, with Cobar Shire
Council now evaluating the proposals.
Council received two submissions in response
to its call for Expressions of Interest (EOIs)
before the August 24 closing date, along with a
third after the deadline.
Council’s general manager Peter Vlatko said
he was pleased with the interest, with all three
submissions coming from non-local investors
interested in purchasing the site.
“We’re still evaluating and will come back to
Council,” Mr Vlatko said.
Council purchased the two main street
buildings, the Grand and adjacent cafe, in late
2023 for $550,000 as part of its vision to beautify
the CBD.
Council believes returning the site to private
ownership for development is in the town’s best
interests, however Mr Vlatko said any sale
would come with an expectation that
development proceeds within a reasonable
timeframe.
“The only thing that we’re stipulating is that
they can’t let it sit there for another 10 years
before something is done,” he said.
“We don’t want that in our main street.”
Council hopes redevelopment could help
address accommodation shortages, stimulate
economic development and deliver a long-term
community benefit.
Council has also received interest in the Town
Hall, with Mr Vlatko confirming the property is
to be offered for sale by auction.
