Business
Council to buy back bus depot that caused furious councillor to quit LNP – Brisbane Times
City will end a lease agreement early on a parcel of land at Sherwood, whose conversion into a depot was one of the most controversial decisions of the Newman-led…
Work began in November 2010 and in 2012, a company named Morstem No.1 Pty Ltd agreed to buy the site and build a bus depot as a condition of the sale.
The council had set aside $75 million to develop the bus depot, but sold the land and agreed to become a tenant of the site for 25 years.
Lord mayor Adrian Schrinner said Brisbanes bus network would not be as effective without the depot.Credit:Matt Dennien
But on Wednesday, the council agreed to again buy the Sherwood site after the owners decided…
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