Zoning

<html><body>
EXPERT INSIGHT

Among the many explanations put forward for <a href="https://www.9news.com.au/national/australia-first-home-buyers-priced-out-of-property-market-by-extreme-offers/d7de770f-c492-46fa-a774-bda0ea45718e">soaring home prices</a>, one we hear repeatedly is <a href="https://www.afr.com/policy/economy/zoning-rules-cost-home-buyers-a-fortune--and-itll-get-worse-says-rba-20180308-h0x6uh">zoning</a> — the regulations that govern the purposes for which land can be used, including how densely people can be housed in different locations.

The real estate industry says if only we <a href="https://udia.com.au/media-release/housing-affordability-woes-need-solutions/">relaxed the zoning rules</a> and allowed more houses and apartments to be built on each block, housing would be cheaper, maybe A$355,000 per unit cheaper if the <a href="https://www.rba.gov.au/publications/rdp/2020/pdf/rdp2020-04.pdf">Reserve Bank</a> is right.

It’s a story as grounded in simplicity as it is (on the part of developers) in self-interest.

The simple story is that zoning regulations restrict development, restricted development means restricted supply of houses and apartments, and restricted supply means higher prices. Scrap the planning laws, the argument goes, and property developers will shower the market with housing, driving down prices.

So effective is the mantra it has become part of the official story in <a href="https://www.gov.uk/government/publications/fixing-our-broken-housing-market">Britain</a> and the <a href="https://bpr.berkeley.edu/2020/04/06/no-more-picket-fences-how-sb50-could-have-solved-the-california-housing-crisis/">United States</a>, and to <a href="https://www.rba.gov.au/publications/rdp/2020/pdf/rdp2020-04.pdf">some extent</a> here.

What’s missing is evidence.

Studies which point the finger at the planning system almost universally fail to quantify the extent of housing permitted by planning regulations and how it has changed over time.

Rarely have changes in zoning been examined

Analysis by Australia’s <a href="https://www.rba.gov.au/publications/rdp/2018/pdf/rdp2018-03.pdf">Reserve Bank</a> for example, treats zoning rules as though they exist in stasis; an ever-present yet spatially-varied regulation measured by whatever price remains once structure and land values are subtracted.

Our <a href="https://osf.io/zkt7v/">new research</a> fills the gap by measuring changes in zoning at the level of individual properties in greater Brisbane.

<figure class="align-right zoomable"><a href="https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes=" 600px) 600px, 237px" src="https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" srcset="https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=970&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=1219&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=1219&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/388744/original/file-20210310-20-synd5d.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=1219&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption>The 19 Brisbane centres studied.
</figcaption></figure>We examined 20 years of changes to zoning, housing supply and prices across more than 25,000 sites in 19 major centres subject to <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/full/10.1177/2399808320951583">repeated</a> zoning changes designed to encourage urban infill.

The centres had within them a wide variety of land use types (detached dwellings, medium-density dwellings, commercial and retail use, etc.) and housing densities. We reviewed and mapped historic and current rules to determine how the zoned capacity changed on each site.

We combined this with data on the changes in land use on each site, changes to the actual supply of dwellings, and property prices.

If the semi-official story was true, we would have expected increases in zoned capacity to lead to falling prices.

Our results show no such thing. Locations with increased zoned capacity for housing saw increased (not reduced) property prices. Across the selected sites, houses increased in value by a factor of three and apartments by 2.3 over the two decades studied, as they did elsewhere in Australia.

Weaker zoning, not weaker prices

During this time, the zoned capacity for housing at these locations doubled. But there was no rush to take up the increase in capacity.

The vast majority of sites (94%) were not developed within five years of the zoning changes.

Even after 20 years, 71% of the extra capacity remained unexploited.

We found evidence for an alternative story: that planning regulations permit development, but it is the market price that determines if and where development occurs.

Higher sales prices make development more feasible.

Under this story, developers select their sites, build, and sell in strong markets and wait or avoid selling when markets are weak.

This partly explains why locations with highest initial property prices were the <a href="https://www.tandfonline.com/doi/full/10.1080/08111146.2020.1792284">most likely</a> to be developed.

Like all good stories, the semi-official one contains an element of truth. If the planning system failed to allow for enough growth, it would almost certainly drive up prices.

Rarely is supply a problem

To avoid this, planning authorities go to <a href="https://planning.dsdmip.qld.gov.au/planning/better-planning/state-planning/regional-plans/seqrp/lsdm">great lengths</a> to ensure there is enough zoned capacity to cater for projected growth.

This is one reason why we <a href="https://osf.io/r925z">don’t have a housing supply problem</a>. Deregulating the planning system won’t change that, but nor will it ease price pressure.

What it will do is reduce the environmental and other benefits zoning provides, while continuing to allow developers to sell properties at times <a href="https://www.sciencedirect.com/science/article/pii/S1051137720300449">of their choosing</a>.

What is driving up house prices now has little to do with zoning, and it is happening worldwide.

Throughout the globe we have seen increases in easy access to cheap credit and tax regimes that encourage speculative property investment.

Unlike planning regulations, which vary hugely by location, these macroeconomic factors are common. They help explain why the housing affordability crisis transcends national boundaries.

It is the liberalisation of finance and the treatment of housing as an investment product that got us into this mess. Further liberalisation of planning regulations is unlikely to get us out.<img alt="The Conversation" height="1" jfhjlrx="" src="https://counter.theconversation.com/content/154482/count.gif?distributor=republish-lightbox-basic" width="1" yyupy4q2g="" z="">

<a href="https://theconversation.com/profiles/mark-limb-1185405">Mark Limb</a>, Lecturer in Urban and Regional Planning, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a> and <a href="https://theconversation.com/profiles/cameron-murray-172480">Cameron Murray</a>, Research Fellow - Henry Halloran Trust, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/zoning-isnt-to-blame-for-australias-soaring-house-prices-154482">original article</a>.
</body></html>

Studies which point the finger at the planning system almost universally fail to quantify the extent of housing permitted by planning regulations and how it has changed over time

jordan_55689

Zoning isn’t to blame for Australia’s soaring house prices

<html><body>
GUEST OBSERVER
The recent changes to the NSW Standard Instrument zoning definitions to allow hardware and building supplies in the IN1 zone is very welcome and long overdue. 
Retail stores are becoming more mixed and varied in the products they sell and zoning laws in planning systems must reflect the changing nature of retail.
These changes should have been made a long time ago. Land use zones and definitions which are flexible and less restrictive encourage competition and efficiency among retailers which keep prices low for consumers.
While the changes to the zoning definitions are positive, more flexibility is needed to ensure there is sufficient appropriately zoned land to accommodate retail stores, particularly those with a large floor plate. Retailers must often pursue lengthy and complicated rezoning processes, which are costly and create significant delays.
Given the substantial contribution that retail sector provides to NSW Gross Domestic Product, we encourage the NSW Government to continue reforming the Standard Instrument LEP to accommodate innovative emerging retail and business models.
A vibrant retail sector provides economic growth and significant positive benefits to the community in terms of lower prices, increased consumer choice, investment and job creation in the retail industry.
 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
</body></html>

jchancellor-FAypfDUnLy

Zoning changes will lead to more retail competition: Chris Johnson

<html><body>
The Victorian Planning Minister, Matthew Guy, has made a move to ensure that private land owners on beaches covered by Public Conservation and Resource zones will only be able to go ahead with the agreement of the state government.
Before this, there was apparently a loophole allowing private land owners the ability to build permanent structures ‘as of right’. This could be anything from a deck, verandah or shade structure to a fence, sign or significant outdoor furniture.
Now, however, these zones will be kept from private development under amendment VC115.
“The Victorian Coalition government will not allow public accessed beaches to be built  on, where the land is technically held in private ownership,” Guy said in a recent statement.
They are currently further looking at legislative options regarding clarifying title boundaries around Port Phillip Bay.
No use or development will be able to go ahead on the land without a planning permit from now on. To obtain this, an owner must put in an application, which will then look to seek consent from the Secretary of the Department of Environment and Primary Industries. A local planning authority will assess the applications. This is likely to be the local council for many.
“With this change, any permit application to use or develop land within this zone will require consent. This is wide-ranging and includes fences, signs, outdoor furniture, shade sails, flag-poles, sheds, pergolas, verandahs and decks. Until today’s reforms, building these structures on private land in this zone did not require a planning permit.”
Guy expressed his belief that this was an appropriate response, with the government currently working on the process of defining boundaries in areas with a high water mark.
“This change to the PCR zone will ensure proper management of beaches. It will prevent inappropriate development and construction from occurring. Beaches will remain accessible for everyone in this state – as they should be.”
</body></html>

jduke-EHk3XBmHkn

Private land owners near Victoria’s beaches to lose ability to develop 'as of right'

<html><body>
The Gold Coast is set to have a new central business district at Southport, which is to undergo an economic and commercial transformation.
The Deputy Premier and Minister for State Development, Infrastructure and Planning, Jeff Seeney, has put out the draft development scheme, which looks to establish the Southport Priority Development Area. This is, Seeney notes, a joint vision between the Queensland government and the local council.
Now, however, it is open for public consultation.
“Our government is committed to growing the economy of the Gold Coast and a key strategy to achieve this is building on the potential of Southport as the CBD,” Seeney said.
“We are also achieving this goal through a number of other initiatives including the Gold Coast Light Rail and investment in the Gold Coast 2018 Commonwealth Games, which will bring in an estimated $2 billion to the coast."
Southport was announced as the next CBD in October 2013, with the priority development area spanning 195 hectares of land including Southport CBD, Broadwater Parklands and some residential communities.
“Development will include opportunities for residential and non-residential development and the draft scheme was prepared by council with assistance from Economic Development Queensland," he said.
Meanwhile, Member for Southport, Rob Molhoek, said that this would be a 'coming of age' for the area.
“In the lead up to the Commonwealth Games and coincidently Southport's centenary, the declaration of this PDA ensures development and investment proposals have every chance of success," said Molhoek.
“My number one priority is to work with local business leaders to facilitate the reinvigoration of Southport as a centre for health, knowledge and business. I want to see new jobs created and opportunities maximised and this PDA will deliver that.”
The Mayor of Gold Coast City, Tom Tate, said that this CBD would be the "definitive centre".
“It has already attracted a large amount of investment and the proposed development scheme aims to attract more through a streamlined and facilitated approach to planning and development," he said.
“Southport is already a hub for commercial activities and community services, but the proposed development scheme wants to shape an appealing and active urban lifestyle for local residents as well.”
The final scheme is looking to be in place in late-2014. Those wanting to make a submission can do so until 22 May.
According to the plan, zones with high density highrise dwelling opportunities will be permitted. Highrise towers will be set above podiums or perimeter blocks, open spaces and roof terraces, and will open up some opportunities of 16-storeys plus in Precinct 2.
In Precinct 3, the Garden Residential Neighbourhood, opportunities for high density medium-rise developments will be available. This includes townhouses to medium-rise, and appears to span to a maximum of 15 storeys.
</body></html>

New Southport, Gold Coast CBD plans open for comment

<html><body>
A new variation to the Territory Plan in the ACT, commenced recently, has reduced the potential building heights proposed for some areas.
This includes land around Allawah Court, Currong Apartments and Bega Court, which Minister for the Environment and Sustainable Development, Simon Corbell, notes is now reduced to 12 storeys from the original 15 storeys, as a result of the potential negative impact on nearby residents. This is under Variation 308.
It also looks to revitalise aged public housing stock in Braddon and Reid. Much of the area under the change is occupied by public housing stock.
"This redevelopment will reduce reliance on the motor vehicle for new residents and promote the use of public transport, cycling and walking as alternative transport," he said.
"As well as higher density residential development the variation includes a requirement for a minimum of 5,800 square metres of space for community facilities to be provided on the site," he said.
"Variation 308 also contains provisions to encourage small scale community uses on the site to meet the convenience needs of residents and to ensure the street frontages are active and vibrant."
This came after much discussion in the local community over fears that the higher level residential developments could cause anti-social behaviour in public housing properties.
</body></html>

Variation to ACT plan sees some areas' proposed maximum heights reduced

<html><body>
City of Sydney Council has put forward plans to rezone industrial areas in the city’s south to allow a wider range of commercial uses.
Although the areas are close to Sydney’s CBD and near suburbs that are in demand for residential development, private housing will generally not be allowed on the land.
Large areas zoned for general and light industrial purposes around <a href="https://www.urban.com.au/property-observer" target="_blank">Alexandria</a> and <a href="https://www.urban.com.au/property-observer" target="_blank">Rosebery </a>are earmarked to be rezoned as Business Park (see figures 3 and 4).
The only places in which residential development will be allowed are a section of Botany Road that currently permits shop-top housing and senior housing, and two areas on the edge of the Business Park that are being considered as sites where affordable housing could be developed to accommodate lower paid workers.
Attitudes towards land zoning have changed, Council notes in the introduction to its planning proposal. In the past, land use planning sought to divide uses into zones to minimise conflict between uses. Now, there is recognition that benefits could flow from locating a range of activities together, as long as they don’t have an "unreasonable impact" on one another – including raising values to such an extent that industry is priced out of the market by residential development.
The Council expects restricting the land in the areas proposed for rezoning to mainly commercial uses will keep land values down.
The conversion of other commercial and industrial sites in Sydney’s south to residential dwellings has started to have a major impact on the industrial market, and consequently jobs in the area.
Knight Frank’s research shows 71 businesses in the South Sydney commercial sector have been displaced in the past 12 months due to land rezoning with these businesses forced to consider relocating.
Knight Frank’s Industrial South Sydney Manager, Brooke Railton says <a href="https://www.urban.com.au/property-observer" target="_blank">Marrickville</a>, in Sydney’s inner west is a popular alternative, given its close proximity to the Port Botany, Sydney Airport, main arterial roads and the CBD.
Fireplace manufacturer Jetmaster recently bought a vacant freestanding warehouse in Marrickville for $3.3 million, after selling two of its properties in redeveloped areas to enable the business to operate out of one location. Knight Frank received close to 80 enquiries on the industrial property. 
Industrial land values in Sydney's south are on average $850 per square metre, Colliers International’s first half Industrial Research &amp; Forecast Report found. That compares with values of $250 per square metre in Sydney's south west and $330 per square metre in the western suburbs.
Residential property prices in suburbs near to the South Sydney employment lands are considerably higher.
In <a href="https://www.urban.com.au/property-observer" target="_blank">Erskineville</a>, which borders Alexandria to the west, residential land values were around $520,000 for a 4x32 metre block in 2013, according to the NSW Valuer general. That equates to $4,062.50 a square metre.
In <a href="https://www.urban.com.au/property-observer" target="_blank">Mascot</a>, adjacent to the southern end of the employment lands, residential land values rose by 10% between 2012 and 2013 to $665,000 for a 12 x 40 metre block, according to the NSW Valuer general. That equates to $1,385.40 per square metre.
CBRE recently negotiated the sale of a 947 square metre showroom/warehouse facility at 133-141 Botany Road in Waterloo with residential development potential to Advan Properties. The residential property developer intends to lodge a development application for the site’s redevelopment.
The sale price of $4.5 million represented a land rate of $4,751 per square metre, according to CBRE.
Another freestanding commercial property with residential conversion potential, located just south of the City of Sydney employment lands sold to technology solutions firm Crosspoint Telecom for $2.31 million.
CBRE noted in its Q4, 2013 Australian Industrial MarketView report that investors were highly active in Sydney’s industrial market and were prepared to sit patiently on inner-ring assets that might be rezoned for residential use in future.
“A new breed of buyers, comprising mainly of unlisted wholesale groups and syndicators, are targeting these typically smaller assets – priced sub $30 million – due to their close proximity to the city and future redevelopment potential for higher and better use,” CBRE senior director, industrial investments, Matthew Lee says. “These buyers are happy to wait it out on an asset in order to take advantage of retail or residential redevelopment opportunities down the track.”
Click through to the next page to see graphics of City of Sydney Council's rezoning plans.
<hr class="system-pagebreak">
Employment lands in the City of Sydney Council area comprise three precincts:
(a) the southern employment lands – this area is about 265 hectares in size and stretches from the southwest corner of the Green Square Town Centre to the south west corner of the LGA. Generally the area is in the suburbs of Rosebery and Alexandria and is bordered by Gardeners Road to the south, McEvoy Street on the west and Mentmore Avenue and Botany Road on the east;
(b) the Moore Park employment lands – this area is about 3.6 hectares in size and includes a single large lot on which the Moore Park Supa Centa is currently located; and
(c) the Parramatta Road employment lands – this area is about 2.1 hectares in size and includes several small lots in Glebe. The area is bordered by Arundel Street and Parramatta Road and divided by Ross Street.
Source: City of Sydney Council
Click to open in new window:
 <a href="/images/2014/07/21/zoning-july-21-one.gif" target="_blank"><img src="/images/2014/07/21/zoning-july-21-one.gif" alt=""></a>
Source: City of Sydney
 <a href="/images/2014/07/21/zoning-july-21-two.gif" target="_blank"><img src="/images/2014/07/21/zoning-july-21-two.gif" alt=""></a>
Source: City of Sydney
Existing City of Sydney Southern Employment Lands in context
<a href="/images/2014/07/21/zoning-july-21-three.jpg" target="_blank"><img src="/images/2014/07/21/zoning-july-21-three.jpg" alt=""></a>
Source: City of Sydney Council 
</body></html>

zfielding-GvX3Uq9KTa

City of Sydney planning to rezone swathes of southern industrial areas

<html><body>
Lara West, in the northern area of Greater Geelong, has been rezoned to include a 62-acre, 650 lot, subdivision called Manzeene Village.
Planning Minister Matthew Guy said that it will make a link between central <a href="https://www.urban.com.au/property-observer" target="_blank">Lara</a> and the Lara West growth area, being one of the most significant in Geelong with forecasts of accommodating 10,000 people.
Earlier this year, in February, a 390-hectare Lara West precinct was approved.
"Manzeene Village completes the planning picture for the Lara West growth front, which will feature an employment precinct, a large neighbourhood activity hub, three new schools, community services, sporting facilities and parkland that can be enjoyed by everyone in the region,” said Guy.
A local commercial area will be built, as well as 5,000 square metres of local parkland.
"Development at Lara West will be undertaken gradually over 30 years to help meet the needs of the projected 500,000 extra residents in the Greater Geelong region by 2050," he said.
New suburbs Lovely Banks and Batesford South are the next planned for Geelong’s north.
</body></html>

Greater Geelong rezoning includes new Lara West subdivision

<html><body>
New zoning and Chinese developer interest have combined to deliver half million dollar windfalls for three Bentleigh households.
The off-market deal through Savills Australia, saw three neighbours at 14, 16, and 18 Bent Street, sell their adjoining homes to a developer for $5.76 million.
It was estimated by Savills to be $1.8 million more than could have been expected from separate individual sales.
Savills Australia selling agent Julian Heatherich said the neighbours could have reasonably expected $1.3 million to $1.5 million in separate sales but the combined property provided a more valuable development opportunity.
The undisclosed purchaser intends to seek permission to develop a multi-level apartment building on the amalgamated 1985 square metre site.
Julian Heatherich said an opportunity was created following state government zoning changes last July, after which the local Glen Eira municipality implemented its new Urban Village Policy allowing for multi-storey development of up to four levels in certain locations.
Savills has been active at Bentleigh as it sold just down the street at 23 Bent Street last year. It was a corner allotment of 1058 square metres with a permit to develop a 27 apartment four levels block which sold for $3.4 million, also to a Chinese developer. 
Savills also sold a 748 square metre site at 261 Centre Road, Bentleigh for $2.735 million to a local developer with a permit to develop 28 apartments in February after attracting 150 enquires from local and off-shore developers.
 
</body></html>

Glen Eira urban village rezoning a windfall for trio

<html><body>
A new zoning plan and planning controls for much of the City of Sydney’s employment lands has been endorsed by the council for exhibition. This covers much land currently zoned for business or industrial purposes.
Some industrial areas are expected to be retained for traditional uses, while other zones are to be introduced or expanded. This includes a B6 Enterprise Corridor zone to add to the B7 Business Park zone.
Knight Frank’s manager of town planning for Sydney, David Workman, said that the proposed changes are extensive and it is crucial to be aware of the implications on an individual property basis.
“A small change can often make a significant difference either positive or negative, particularly in terms the type of development permitted within a new zone and at what density,” Workman said.
The report that had been prepared for the Council included the following proposed changes:
<ul>
<li>A core industrial zone in the South West part that will continue to accommodate ‘traditional industrial’ uses;</li>
<li>A flexible enterprise corridor zone through the centre part that will accommodate lower density industrial and commercial uses; and</li>
<li>Business park zones in the North West and South East parts that are close to transport, services and amenities and that will provide for denser commercial activity over time.</li>
</ul>
Source: Knight Frank
It’s noted that private residential development will be restricted on the employment lands, with the exception of a Botany Road section that currently permits shop-top housing and senior housing.
Affordable housing opportunities may also be provided for.
Daniel O’Brien, Knight Frank South Sydney agency director, said that the rezoning for some of those currently zoned IN1 General Industrial means good things with the potential for higher order commercial uses than currently allowed. He also noted that it’s expected to drive employment, and therefore commercial development.
“The trend for older industrial style buildings, to be regenerated into funky office space will only gather more pace and as long as the current demand for this type of office accommodation remains strong, it will be a win:win for developers, tenants and occupiers and building owners,” Mr O’Brien said.
</body></html>

How the City of Sydney’s new zoning plan affects commercial property: Knight Frank

<html><body>
Last night, the City of Greater Geelong voted to remove a covenant on a contentious block of land.
The Geelong West Bowling Club had been looking to remove a covenant over an area of land that previously was to be used solely for the purpose of bowls.
In 1986, 1,728 square metres of land at 12 Bowlers Avenue, Geelong West had been sold to the Geelong West Bowls Club for $48,000 and had applied the covenant at that time restricting its use as a bowling green. The amount they paid was agreed upon by Council to be at or close to market value and had previously been used as a table tennis site.
The initial valuation and associated documents were unable to be found, so the council struggled to ascertain whether they had purchased it for a discount. However, they did note that due to a later valuation they believed they paid close to full market value.
The Club looks to move their site and want to maximise the revenue from the sale of the land for this purpose. The value would be greatly enhanced without the covenant, which restricted it to a bowling green and occasional car parking.
The council approved the removal of the covenant (M262445Q).
Attending the council meeting, the Geelong Advertiser tweeted the following:
<img src="/images/2014/08/13/geelong%20aug%2013%20one.png" alt="">
Council records note that the Club and the Drumcondra Bowling Club have entered into an agreement with Links Investco No 1 Pty Ltd to acquire land and build new clubrooms and greens at the former Geelong Golf Club site. The sale of the existing land is to support the move and club’s consolidation at the new location on Ballarat Road.
“In deciding to agree to the removal of the covenant, the Council is entitled to consider whether at the time of sale of the land to the Club, the covenant had a restrictive effect on the price at which the land transferred,” council meeting minutes note.
The land is currently zoned Residential 1, and is proposed to be included in a Residential Growth Zone 2 under a Greater Geelong Planning Scheme amendment.
“Once the covenant is removed the owner of the land is free to use and develop the land subject to the provisions of the Planning Scheme and subsequent planning permit,” the minutes confirm.
<img src="/images/2014/08/13/geelong%20aug%2013%20two.png" alt="">
Source: City of Greater Geelong
The entire site is <a href="https://www.realestate.com.au/property-residential+land-vic-geelong+west-200945771" target="_blank">currently being marketed through Gartland Real Estate, who are calling it a unique development/subdivisional opportunity</a>.
“The former Geelong West Bowls Club is located only 85 metres to Pakington Street and adjoining the Geelong west public park this is a one of a kind development opportunity,” the listing reads.
“Set within moments to the vibrant Cafe and restaurant precinct, offering direct access to major arterials and public transport, this location offers a multitude of opportunities to the buyer. Surrounded by residential homes in one of Geelong strongest neighbourhoods this is the perfect mix of location and opportunity.”
It is open for expressions of interest.
The Geelong Advertiser had previously indicated that locals fear the site would become a high-density housing block if this took place and noted that Gartland had estimated a sale price of up to $10 million for the combined Geelong West and Drummondra clubs’ locations.
</body></html>

Zoning

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Zoning

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News