The City of Ryde is inviting tenders for a long-term lease of the former Ryde Civic Centre site at 1 Devlin Street, a move aimed at securing a strong financial outcome for the Council and generating substantial funds to be reinvested in the community.
The iconic site is now poised to enter a new chapter, delivering essential funds to support a financially sustainable future for the City. These funds will enable the Council to enhance community facilities across the City.
The revenue generated from the lease will directly fund the development of new cultural and community facilities across the local government area that will provide inclusive spaces for civic, cultural, and community life, responding to the diverse needs of Ryde's residents.
Council is committed to a transparent Request for Tender (Tender) process that promotes fairness, and the best outcomes for the Ryde community.
Over the past decade, Council has investigated various options for the site to explore how 1 Devlin Street can best serve the needs of a fast-growing community. This approach has matured over time, now focusing on a financially responsible delivery strategy that reflects community benefits while ensuring long-term sustainability.
City of Ryde Mayor Trenton Brown said that this marks an exciting chapter for a site that has a long history of serving the community.
"The long-term lease of 1 Devlin Street will allow us to maintain public ownership while unlocking the site's potential to generate revenue that will benefit our community for years to come," Mayor Brown said.
"As Council moves forward with the Tender, we remain committed to keeping the community informed about the progress and opportunities associated with the future of 1 Devlin Street."
Leading commercial real estate firm CBRE is conducting the Tender process on behalf of the City of Ryde.
