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Reader’s letter: Kensington Park sale

Another newspaper reports that the Derwent Valley Council will tonight consider selling New Norfolk’s Kensington Park for a residential development at a price far below valuation.

The real market value of Kensington Park is in the order of $7 million. Land is always valued for the highest and best use. Council already have a valuation of $6.75m as residential land.

The offers received are for Public Open Space land and as the intended use is clearly residential the higher valuation must prevail. It is inappropriate to sell otherwise without publicly offering the land for sale.

A second valuation should confirm the value as neither proponent has provided a valuation to support the present offers.

PETER BINNY,
GRANTON

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