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But it resisted calls to obtain multiple valuations for the site and to sell it on the open market.
According to Urbis Valuation, the estimated value of development land in Lidcombe with DA approval lies between $140,000 and $190,000 for each unit built on the site. Kohler Bird Appraisals quoted a standard range of between $150,000 and $200,000 per unit. A per-unit measure is more commonly used in the industry than price-per-square-metre.
Cr Mehajer planned to build 96 apartments on the site, with added space for about eight commercial outlets. The sale is contingent on DA approval.
The Herald did not ask valuers to estimate the worth of the John Street property specifically, but for development land in Lidcombe, within walking distance to the train station.