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ABC settles dispute with developer

The ABC has resolved a dispute over a parcel of land earmarked for a new headquarters for the public broadcaster in Brisbane with developer Watpac.

Court action was underway after the Australian Broadcasting Corporation sought to recover a deposit paid on the Newstead site.

The ABC sought to end the contract, claiming the Newstead site was contaminated. In a statement issued jointly with the ABC, Watpac said the company had decided “not to be involved in wasteful dispute with the ABC and the parties mutually have agreed not further to engage in litigation about the relevant contract”.

The joint statement does not indicate the fate of a $1.5 million deposit the ABC paid on the Newstead site. ABC managing director Mark Scott said the terms and conditions of the settlement with Watpac were confidential. He said the ABC was pleased with the outcome.

Mr Scott told ABC Radio the corporation was identifying potential new sites and the way was now clear for selection of a new location.

Source: NineMSN

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