Bought for car parking

The Invercargill City Council has gone on a spending spree in the inner city, buying three inner city properties with a combined rateable value of just over $2 million.

Chief executive Richard King announced on Monday the Todds Auction site had been bought for an undisclosed sum.

The site, on three titles, runs between Don and Spey St, and is valued at $1.54 million.

''This land was identified ... as a valuable site for inner city parking,'' he said.

The council has also bought two warehouses, one in Esk St and the other in Deveron St, with the intention of turning the land into car parks.

The properties have a combined ratetable value of $470,000.

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