Bus and Tram Express
Bus and Tram Express

Redfern Building Sale

Jun 18, 2021Uncategorized

Although it has yet to be ratified at the upcoming National Executive meeting, it is expected that there will be a reversal on the decision to sell the building at Redfern despite the high offer made.

National Secretary Mark Diamond met with the Tram & Bus Divisional Executive to discuss our concerns with the plan. The main issues were that there was no guarantee of upscaling to a better property as no replacement had yet been found, that other ways could be found to unlock the equity of the building without selling it outright, and that it was genuinely too big a step to take without more certainties in place. It was also noted that property values in Redfern are not expected to fall either.

Mark took our points onboard and, after consideration, agreed to roll back the sale. While he remains committed to growing the assets of the RTBU for its members, he agreed that more certainty around how that is achieved was needed.