SOUTH Gippsland Shire Council has bought the historic Top of the Town site in Korumburra to improve traffic and parking options around the proposed Korumburra community hub.

Council issued a statement on Monday morning, confirming it was the purchaser of 33 Bridge Street, Korumburra and settlement would take place on May 3, 2021.

According to realestate.com.au, the property sold for $480,000 this month.

That’s almost $200,000 less than the previous sale price of $680,000 for the five-bedroom, two-bathroom, two-storey property in 2013.

South Gippsland Shire Council’s director of sustainable infrastructure, Anthony Seabrook described it as a “strategic land purchase”.

“Having access to this site means that we can continue our work to implement the Korumburra Town Centre Framework Plan,” Mr Seabrook said.

Traffic movement reports for the community hub planning permit application recommended making the laneway beside the Top of the Town site one-way.

Since 1888 the Top of the Town site has been home to a Temperance Hotel, dentist, fish and chip shop, pool hall, Chinese restaurant, pizza shop, curtains and craft building and, most recently, the Fish Kitchen. According to local folklore, the site is haunted.