Randwick City Council has reached an agreement to purchase a significant piece of land on Rainbow Street in Kingsford from Transport for NSW for $12.55M.

Strategically located in the heart of Kingsford Town Centre, the Rainbow Street site is located opposite the Kingsford ‘Nineways’ roundabout adjacent to a Council-owned car park. The site was the home for the Kingsford Rotary Markets and is now used as a light rail construction compound.

Council has not developed plans for the site yet, but is considering providing more public parking, commercial space and a supermarket. The site has also been flagged as a new civic centre and headquarters for an amalgamated eastern beaches council.

The Mayor of Randwick Noel D’Souza said the purchase is a strategic decision for the Council and said the Council greatly appreciates Transport for NSW’s support in making the purchase possible.

“Council’s light rail development agreement with Transport for NSW provided us with the first right to purchase this site at market value. We have been negotiating with Transport for NSW for some time and have reached agreement on a fair price.

“Purchase of the Rainbow Street site provides us with a unique opportunity to create a centrally located home adjacent to the Kingsford light rail terminal for a future amalgamated council.

“The proximity to the Kingsford Light Rail Terminus would allow the Council to be located in the heart of what will be the newly designed urban centre of Kingsford,” said Mayor D’Souza.

The site could also provide much-needed town centre parking for Kingsford as well as being a catalyst to drive economic growth for businesses in this developing area.

The site will not be available to Council until light rail construction is complete in 2019. Council will undertake detailed consultation with the community to develop any plans for the site.