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Development put on hold

PLANS by Monteath Properties to build residential apartments on its Northbank property in Fremantle following the collapse of the proposed Ramada hotel complex could hold up development at the site for months, according to City of Fremantle urban management director Geoff Borad.

Mr Borad said the Northbank Structure Plan, formed about six years ago with the help of Monteath Properties, had set the area aside for a tourist precinct.

Because residential apartments would not be in keeping with the Structure Plan, lengthy community consultation would be required.

The $80 million hotel development fell over last week, with Monteath Properties blaming the Australian Tax Office for an unfair tax ruling (TR 2000/20) that reduced the attractiveness of their strata title development.

Hotel chain Ramada International was to manage the hotel.

Fremantle Mayor Richard Utting was disappointed the proposal had collapsed as it meant the loss of tourist facilities and a conference centre.

However, he said the Woolstores development and planned expansion of the Esplanade Hotel would compensate for the loss.

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