What Is the $7 Million Fundraising Target For?

FOR IMMEDIATE RELEASE
25 February 2026

We have been asked a direct question: What is the $7 million we are seeking to raise actually for?

The answer is straightforward.

The fundraising target covers:

• The purchase of the land and buildings that make up the Old Packhouse Market precinct
• A minimum provision of $500,000+ for improvements, maintenance, renovations, compliance upgrades, and essential site works
• Transactional and professional costs associated with securing and transferring the asset into community ownership
• Contingency funding to ensure financial stability immediately post-settlement

The agreed purchase price itself remains commercially confidential at this stage. That is standard practice in property transactions of this scale. Confidentiality clauses protect both vendor and purchaser during negotiation and settlement phases.

For the general public, the key point is this: the figure has not been plucked from the air.

Over the past nine months, we have undertaken extensive due diligence. This has included financial analysis, legal review, building and compliance assessment, infrastructure evaluation, revenue modelling, and scenario testing. We have also rigorously examined the alternative of establishing a similar facility on another site. After analysing every viable option, we are confident that purchasing the existing Old Packhouse Market property represents the strongest and most cost-effective path forward.

The additional capital provision is equally important. Our objective is not simply to acquire the property, but to do so responsibly, with sufficient funding in place to address maintenance, upgrades, and any foreseeable works without placing the project under financial strain immediately after purchase. Responsible stewardship requires prudent provisioning, not optimistic assumptions.

If any individual or organisation has a genuine need for greater detail, for example potential major donors, partners, or aligned investors, we are open to meeting and, where appropriate, entering into a confidentiality agreement so that fuller information can be shared within a trusted circle.

Community ownership demands transparency. It also requires commercial discipline. We are committed to both.

For further information, please visit our website or contact:

Di Maxwell
Far North Resilient Communities Charitable Trust