City of Newcastle looks to the future with strategic investments
City of Newcastle has taken another step in its long-term financial plans to ensure it can meet the need for infrastructure and services across the city into the future.
Councillors signed off last month on the purchase of a significant commercial landholding in Taree, which is operated by Bunnings under a 10-year lease.
This is the first property acquired under City of Newcastle’s Future Fund strategy, which was established to seek better financial returns through a range of strategic investments.
Executive Director of Corporate Services and Chief Financial Officer David Clarke said the Future Fund allowed City of Newcastle to diversify its revenue base to cater for both the growing…
