The old Moreton Bay fig tree at Fremantle’s Kings Square in not in a great condition and arborists are monitoring it carefully.
Experts say soil contamination is to blame for it, not strangulation by the Christmas Tree wires, as alleged by the Fremantle Society.
The plane trees at Kings Square are all being prepared for relocation and are standing in a puddle of muddy water to make them stronger for the journey.
The demolition of the Queensgate building is starting in April and that will be the commencement of the Kings Square Project.
Sirona Capital has requested that the settlement with the City of Fremantle of the sale of the Spicer site on the corner of William and Henderson streets will be delayed for 12 months to May 9, 2018.
The site was sold to Sirona for $ 6.65 million and according to expert advise the market value of the property has remained the same.
The Spicer site development is part of the Kings Square Project where Sirona develops the former Myer and Queensgate buildings, build a new Civic Centre and develop the Spicer site with a five-storey building.
It would probably be a big task for any developer to do all that development in the same area at the same time, so Council will probably approve the settlement delay at Wednesday’s full Council meeting.
Above another historic photo taken from the top of the Townhall that shows the Kings Square and Fremantle Oval Project development areas, and of course the Henderson Street Courthouse/Police precinct will also be developed by Silverleaf.
There is an intriguing new aspect to the Fremantle Kings Square project with valuer Blake Smith of M3 Properties WA, one of the consultants of the KS project, being accused in the Federal Court for alleged misleading or deceptive conduct and misleading property valuation, together with Ibex Capital MD Charlie Robertson and corporate lawyer David Paganin.
A group of high-profile investors in the Busselton Aqua Resort development claimed the financial disaster of the project would never have happened if not for misleading property valuation, according to a report in yesterday’s West Australian.
Council told the Federal Court that the project would not have got financing if more accurate valuation had been given to investors in 2008.
There is also controversy in Fremantle about the valuation of properties of the Kings Square Project so the outcome of the court case has some significance for the City of Fremantle. Justice Michael Barker reserved his decision on the Aqua Resort case, so no one is guilty of anything until the Justice has released his findings.