Rich lister Brian Perry’s trust the Brian Perry Charitable Trust has sold a 4,773sq m section of Hamilton land to the local council while retaining the first right to develop it.

The land was sold for over $400 a square metre, with the trust achieving a total of $2 million.

The site, at the southern end of Victoria St, was bought by the Hamilton City Council with the aim of creating better access to the Waikato River for the public.

A public plaza will be built on the land, the design of which is not yet finalised.

The Brian Perry Charitable Trust sweetened the transaction for the council by gifting a portion of the land.

As part of the deal, Perry Property will have the first option of developing on the site.

“The next step for the city is to work in collaboration with the Brian Perry Charitable Trust to develop a detailed property development and green space plan,” said Hamilton mayor Bob Simcock.

“Hamilton is crying out for a development that allows people to have a coffee, sit on a park bench or even work at their office desk - while enjoying the beautiful river views," said Simon Perry, son of Rich lister and company chairman Brian Perry.

Perry Property general manager Tony McLauchlan said that its likely several buildings with smaller floor plates rather than one large structure will be built.

The site is currently being cleared, with an existing car park still open to the public. Additional parking spaces will be added in the final development.