Marrickville Final Report 2015 FINAL REPORT GENERAL VALUATION PROGRAM DISTRICT 206 - MARRICKVILLE BASE DATE - 1 JULY 2015 Prepared by SOUTHERN ALLIANCE VALUATION SERVICES PTY LTD For VALUER GENERAL & DEPARTMENT OF LANDS Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 1 of 81
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Hurstville Preliminary Market Analysis Report...Marrickville Final Report 2015 EXECUTIVE SUMMARY (Continued) Overall the Industrial market in the Marrickville LGA moved within a band
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Marrickville Final Report 2015
FINAL REPORT
GENERAL VALUATION PROGRAM DISTRICT 206 - MARRICKVILLE
BASE DATE - 1 JULY 2015
Prepared by
SOUTHERN ALLIANCE VALUATION SERVICES PTY LTD For
VALUER GENERAL & DEPARTMENT OF LANDS
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 1 of 81
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Marrickville Final Report 2015
EXECUTIVE SUMMARY
All properties in NSW are valued each year for rating and taxing purposes. All valuations are issued to the Office of State Venue for land tax. Valuations are also issued to councils either each year or every 2nd, 3rd or 4th year. This report details the land valuation programme for the Marrickville Local Government Area (LGA). The majority of values are determined using mass valuation techniques. The Valuer-General’s mass valuation system is applied as follows: 1) Properties that react to market forces in a similar way are grouped together in a component, AND 2) The existing values of those properties in a component are updated by a market-based factor
that is then used as a multiplier of the prior Land Value. The result is then checked by the Contract Valuer and individually verified values applied as appropriate.
The use of mass valuation techniques does have limitations, particularly over a period of time. The continued application of factors may lead to a distortion in the relativity of values within a geographical area. Some types of properties are so few in number or likely to be so sensitive to localised changes that individually verified values is the only appropriate method. Although a mass valuation system is used to determine the majority of land values, the Valuation of Land Act requires that each land value be a market value. Each land value must be capable of being tested and supported on its own against all available market evidence. The total number of valuation entries (as at 31/10/15) within Marrickville LGA – 23,974. The sum of land values in dollars (as at 31/10/015) within Marrickville LGA – $21,670,597,950. The last local government base date or year when the valuation notice was issued was for Base Date 1st July 2012. The total land value for Local Government Base Date 1st July 2012 was $12,929,706,680 which represents a percentage change of 67.6% from General Valuation to General Valuation. The total land value for Base Date 1st July 2014 was $16,887,671,405 which represents a percentage change of 28.3% overall for all categories of land. The change in values reflects an overall upward trend of all land values for most categories of land within the Marrickville LGA based on market sales evidence. Certain areas within Sydney’s metropolitan area have reported high increases in value (Inner-west, Eastern Suburbs and the Lower North Shore) whilst others have reported more modest increases or only marginal increases in value such as Western, North-western and South-western suburbs. The number of desirable properties including: city skyline view properties; the amount of underdeveloped sites; the increasing rental returns on residential investment property based on their accessibility to the city, transport options and other facilities and amenities; as well as the demographics of the area in general, demand out stripping supply and low interest rates are all underlying reasons that have assisted the increase in land values over the past year. The rate of change of residential and commercial category property over the reporting year has generally been quite substantial but sporadic with residential and commercial values changing by varying amounts at various times.
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Marrickville Final Report 2015
EXECUTIVE SUMMARY (Continued) Residential – Overall the residential market within the Marrickville LGA, as at 1st July 2015, increased in line with other inner-city and inner-west suburbs of Sydney located within a range of 5-10 kilometres of the CBD. In general, most single residential lands depending on locality, moved within a band of 25% to 35% between Base Date 1 July 2014 and 1 July 2015, with the majority experienced strong increases. Larger single residential sites zoned R1 (General Residential) in Marrickville, Dulwich Hill and Petersham showed the strongest increase, whilst R2 (Low Density), single residential sites in Marrickville (north of the railway line) and single residential sites in Tempe also showed strong increases. In comparison to the previous reporting year single residential sites in Camperdown and Newtown showed strong increases. From analysis, smaller single residential sites throughout the municipality continue to show steady increases. Overall, all residential components showed an increase in movement in comparison to the previous reporting year. The limited supply of property for sale and the low interest rates, helped to maintain strong growth in the residential sector across the Marrickville LGA. Commercial / Retail – The commercial/retail market within the Marrickville LGA has continued to move steadily upward over the last reporting year, with some areas experiencing strong increases, this has been underpinned by low vacancy rates, steady rental growth and continuing demand for mixed-use sites, particularly those with residential potential. The larger sites continue to perform well with the demand for mixed-use development sites, underpinned by higher residential rental and capital returns. This growth was further characterised, by property consolidations, land banking activities and redevelopment generally and involved any commercial property capable on of any sizeable residential component. Traditional fringe areas with large sites however with good amenity but that have been less desirable historically have indicated the greatest growth. Some of these areas have shown growth well above the more well positioned localities, examples of these areas, include the fringes of Petersham Town Centre, i.e. Crystal, Trafalgar and Audley St, Illawarra and Marrickville Rd Marrickville, New Canterbury Rd Dulwich Hill and the St Peters end of Princes Hwy. The commercial/retail market generally moved within a band of 9 – 56% with retail sites along Illawarra Road Marrickville showing highest increases and Marrickville Metro showing the lowest increase. Marrickville reported over 100 commercial sales over all business zones which reflects an extremely active sector in relative terms for the category of property. Over all the commercial/retail market maintained a strong growth over the reporting year, helped by low interest rates, high residential demand a limited supply of quality sites available for sale. Industrial – The industrial property market within the Marrickville LGA during the reporting year to 01/07/2015 has remained sluggish in line with other inner city/inner west industrial properties, despite good access to the airport and Port Botany and connection to the main road network. The trend can be explained by the significant ongoing improvements that have been made to Sydney’s metropolitan transport infrastructure. Sydney is linked by the Sydney Orbital Network, which connects the M1, M2, M4 M5 and the M7. This has allowed direct access form Sydney’s port and airport to all major warehousing and industrial hubs in the South West, Western and North West precincts. The industrial property market is gradually moving away from the inner city/inner west industrial areas to the outer suburbs of Sydney and as a result the overall volume of industrial property in the Marrickville LGA is reducing.
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Marrickville Final Report 2015
EXECUTIVE SUMMARY (Continued) Overall the Industrial market in the Marrickville LGA moved within a band of 5 to 18.2%. General industrial sites under 1,000m2 showed the greatest increases, moving in a band of 13 to 18.2%. Housing affordability has had less impact on residential values within the Marrickville LGA than has affected other more outlying areas of Sydney. Suburbs with lower median values in the municipality registered stronger increases in comparison to those of higher valued areas, which may be partly explained by the demographics of purchasers in these locations, greater opportunity to add value, the lower entry level and the type of housing stock. Unlike the stock-market, any impact upon the real estate market is dependent on consumer confidence, employment security and any regulatory/monetary policy changes. Evidence investigated suggests that rental markets during the year remain extremely tight with undersupply leading to unprecedented vacancy factors for residential property. Similarly, though the overall quantum of sales transactions increased marginally, due to increased first home buyer activity and increased activity by developers and investors alike, the demand for housing in the Marrickville LGA remained high. Hence in the short to medium term value levels are expected to hold.
George Veris Burwood Area Manager Southern Alliance Valuation Services Pty ltd
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Marrickville Final Report 2015
FINAL REPORT DISTRICT (206) - MARRICKVILLE
1.0 GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA
Marrickville Local Government Area (LGA) is situated in the inner western suburbs of the Sydney metropolitan area. Marrickville LGA otherwise known as Marrickville City Council commences some four (4) kilometres west of Sydney CBD and stretches approximately five (5) kilometres from Newtown at its eastern extremity to Dulwich Hill at its most western point. The municipality of Marrickville contains an administrative area of 16.5 square kilometres and is bounded by the LGA’s of Ashfield & Canterbury to its west, Rockdale & Botany Bay to its south, City of Sydney to its east and Leichhardt to its north.
Marrickville is an established council area of Sydney with a population of approximately 72,000 occupants (Census 2006). Development has historically evolved along main roads or railway routes which have developed a pattern consisting of a retail/commercial strip centred at train stations usually also characterised by the most densely populated development in the municipality. Examples of these localities include the suburbs of Newtown, Stanmore, Petersham and Lewisham on the Main Western Railway Line and St Peters, Sydenham, Marrickville and Dulwich Hill on the Bankstown Line. Newtown and Marrickville are the largest of Marrickville’s Town Centres and serve as the financial and cultural centres of the LGA however Petersham the location of council’s chambers is the administrative centre of the district.
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Marrickville Final Report 2015
GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA (continued) The City of Marrickville incorporates, either wholly or partly twelve (12) suburbs or localities, including Camperdown, Dulwich Hill, Enmore, Hurlstone Park, Lewisham, Marrickville, Newtown, Petersham, Stanmore, St Peters, Sydenham and Tempe.
Getting to and around the Marrickville municipality area is undoubtedly one of the easiest districts in the metropolitan area of Sydney to do so. Many of Sydney’s first main roads and railway lines were constructed through the inner west area of Sydney following the easiest natural topography through the area to outlying localities and leaving a legacy of an excellent road and rail system. This includes several large main public roads and two (2) suburban railway lines. Roads generally radiate from the centre of Sydney and through the municipality in an east/west and southern direction. These include Parramatta Rd running generally through the northern part of the municipality and King St/Princes Hwy which runs through the middle of the municipality initially and then forms part of the southern boundary. Other important connecting roads traversing through the municipality include Enmore Rd/Stanmore Rd/New Canterbury Rd, Marrickville Rd and Sydenham Rd. This network of roads is well served by an excellent public bus system however the Main Western and Bankstown Railway Lines offer an alternative to this sometimes congested road system. Marrickville LGA’s street pattern as with the early development of Sydney itself was generally unplanned and haphazard in nature which was not assisted by low lying areas in segments of the municipality, the early development of the railway and natural landforms such as the meandering Cooks River/Alexandria Canal system along its southern boundary which was not conducive to a rigid perpendicular street pattern. Some of the significant local, Sydney and State features of the municipality include:
• King Street Retail Strip; • Marrickville Metro Shopping Centre. • Cooks River Rail Terminal • Enmore Park & Petersham Park Aquatic Centres • Marrickville Golf Club • Ikea Tempe
A summary of the major land uses follows:
RESIDENTIAL: The municipality of Marrickville has a variety of housing types covering different eras from the mid 1800’s through to the present. However, large scale habitation of the area occurred much later and coincided generally with the introduction of the railways in the late 1800’s and resulted in nodes of development around the various stations and main road intersections, comprising initially with Victorian development followed consecutively in time by Federation and Californian Bungalows, whilst development gradually fanned out and in filled from these railway stations and main roads over time. Marrickville experienced its greatest period of development during the early inter war period followed by smaller spurts of development from the 1960’s through to the early 1980’s.
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Marrickville Final Report 2015
GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA (continued) Later periods witnessed the development of multiple occupancy buildings in the form of low rise ‘Art Deco’ style flats again centred at the main railway stations, followed later in the 1960 – 70’s by lower quality investment flats. Many of the better examples of Marrickville’s built history have been preserved in heritage conservation precincts and protected from demolition by state and local legislation. Later density development comprising two and three storey strata titled blocks of units did not take hold til the 1960 – 70’s when planning changes, rising land values and demand for this type of development brought about largely by a change in demand and the need for better utilisation of existing infrastructure, encouraged this form of development. Marrickville today is effectively established, with the only areas remaining for development being redevelopment or conversion sites of older style ex-industrial property.
COMMERCIAL/RETAIL: There are several retail areas within the Marrickville Local Government Area. Primarily they have developed around the railway stations and main roads, the largest being around Newtown and Marrickville Railway Stations and their immediate surrounding areas and are in the form of strip retail centres. Retail neighbourhood centres have also developed in the suburbs of Stanmore, Petersham, Dulwich Hill and Lewisham and in numerous other smaller localities. The LGA has a sub-regional shopping centre known as ‘Marrickville Metro’ situated on the fringe of the Marrickville industrial area off Smidmore St and Victoria Rd. This shopping centre in anchored by a major supermarket chain, an Aldi Supermarket, a variety store and numerous speciality stores. Retails precincts along Parramatta Rd and Princes Hwy as well as providing industrial uses have matured recently as commercial areas to now include bulky good retailing, showrooms and mix use developments. INDUSTRIAL: The municipality of Marrickville has several large industrial pockets including; Marrickville and St Peters/Sydenham/Tempe and several much smaller pockets the most significant of these being along Carrington Rd Marrickville, Old Canterbury Rd Lewisham, New Canterbury Rd and Trafalgar St Petersham and Bridge Rd and Australia St Camperdown. Railcorp Cooks River Rail Terminal at St Peters is directly linked to Port Botany and the state’s rail network. The site provides a vital link to the transportation and distribution of goods not only statewide but nationwide. The Waste Transfer Station at St Peters off Canal Rd is nearing its capacity but will still be several years before it is available for industrial redevelopment.
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Marrickville Final Report 2015
2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES
District 206 – Marrickville LGA 2015 Register of Land Value Entry Total at 31 Oct 2015
(the totals below include the 29 Oct 2015 Supplementary Import)
Zone Category
(all zones)
Residential 20678 86.25%
Business 1981 8.26%
Industrial 1008 4.20%
Open Space 163 0.68%
Special Uses 141 0.59%
Miscellaneous 3 0.01%
Totals 23974 100.00%
Residential Category
Single Dwelling Sites 19300 93.78%
Residential Density 1280 6.22%
Totals 20580 100.00%
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Marrickville Final Report 2015
2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES. (Continued)
District 206 – Marrickville LGA 2015 Register of LV Entries (Zone Category) at 31st Oct 2015
District 206 – Marrickville LGA 2015 Register of LV Entries (Residential Category) at 31 Oct 2015
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Marrickville Final Report 2015
2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES. (Continued)
District 206 - Marrickville LGA 2015 Register of LV Entries per Component at 31 Oct 2015
Zone Component # Entries % Zone Component # Entries %
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Marrickville Final Report 2015
2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES. (Continued)
District 206- Marrickville LGA 2015 Register of LV Totals per Category at 31 Oct 2015
Zone Component Total LV 2015 % Zone Component Total LV 2015 %
B1 CGG 21673090 0.100% R1 EGA 407494970 1.880%
B1 CNL 37580000 0.173% R1 ELG 178590000 0.824%
B1 CNR 172606000 0.796% R1 ELL 403910000 1.864%
B1 CNS 81790000 0.377% R1 EMG 114155290 0.527%
B2 CAA 112397000 0.519% R2 EGE 1940574940 8.955%
B2 CBR 237115400 1.094% R2 EGN 2852936660 13.165%
B2 CCC 107814600 0.50% R2 EGP 3313062210 15.288%
B2 CFF 129359600 0.597% R2 EGS 1380380320 6.370%
B2 CHH 65604500 0.303% R2 ELH 257068100 1.186%
B2 CJR 114055390 0.526% R2 EPL 1199288040 5.534%
B2 CVM 370975740 1.712% R2 ESS 718040150 3.313%
B2 CVO 115715500 0.534% R2 EST 885732560 4.087%
B2 CXX 29000000 0.134% R2 ETL 2818480740 13.006%
B4 CAM 179918200 0.830% R3 EDM 63614000 0.294%
B4 CVP 31577000 0.146% R3 EMM 54358000 0.251%
B5 CYY 143585530 0.663% R4 EDA 43221000 0.199%
B6 CCM 263564300 1.216% R4 EDD 375210000 1.731%
B6 CMP 27759000 0.128% R4 EDH 121486000 0.561%
B7 CBP 86857000 0.401% R4 EDO 113422000 0.523%
IN1 DAG 192716000 0.889% R4 EDS 104639000 0.483%
IN1 DLG 349956000 1.615% R4 EHH 63840000 0.295%
IN1 DMF 262453460 1.211% RE1 KBB 68998910 0.318%
IN2 DAA 84966000 0.392% RE2 KCC 18373000 0.085%
IN2 DLL 96190000 0.444% SP1 KSA 1650000 0.008%
IN2 DSS 133521160 0.616% SP2 KUC 174742220 0.806%
R1 EDG 472245000 2.179% SP2 KUU 53998670 0.249%
SP2 SJK 22303700 0.103%
W1 WNW 32000 0.000%
Totals No. of Components 54
Totals No. of Valuations $21,670,597,950 100.00%
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Marrickville Final Report 2015
3.0 TOWN PLANNING & ZONING INSTRUMENTS.
Marrickville City Council’s primary planning instrument that controls and regulates development at the time of this report is:- Marrickville Local Environmental Plan 2011, (MLEP 2011) gazetted on 12 December 2011. The Marrickville LEP 2011 must be read in conjunction with the Marrickville Development Control Plan 2011. The MDCP 2011 is a comprehensive Plan which consolidates all of Council’s existing DCPs into one document. Discussions with Marrickville Council and our own searches have revealed that since adoption of the MLEP 2011 the Draft MLEP 2011 Amendment No.1 and Draft MDCP 2011 Amendment No. 1 were publicly exhibited from Tuesday 25 September 2012. The amendments are currently awaiting approval by the Minister of Planning and Infrastructure. The MLEP is a legal document that sets the direction for future growth in the local government area by providing controls and guidelines for development. It determines what can be built, where it can be built and what activities can occur on the land. Part 4 Principal Development Standards (MLEP 2011)
4.3 Height of buildings (1) The objectives of this clause are as follows:
(a) to establish the maximum height of buildings, (b) to ensure building height is consistent with the desired future character of an area, (c) to ensure buildings and public areas continue to receive satisfactory exposure to the sky and sunlight, (d) to nominate heights that will provide an appropriate transition in built form and land use intensity.
(2) The height of a building on any land is not to exceed the maximum height shown for the land on the Height of Buildings Map. 4.4 Floor space ratios (1) The objectives of this clause are as follows:
(a) to establish the maximum floor space ratio, (b) to control building density and bulk in relation to the site area in order to achieve the desired future character for different areas, (c) to minimise adverse environmental impacts on adjoining properties and the public domain. (2) The maximum floor space ratio for a building on any land is not to exceed the floor space ratio shown for the land on the Floor Space Ratio Map. (2A) Despite subclause (2), development for the purposes of attached dwellings, bed and breakfast accommodation, dwelling houses and semi-detached dwellings on land labelled “F” on the Floor Space Ratio Map is not to exceed the relevant floor space ratio determined in accordance with the Table to this subclause.
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3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued)
Site area Maximum floor space ratio
≤ 300 square metres 0.85:1
> 300 ≤ 350 square metres 0.7:1
> 350 ≤ 400 square metres 0.6:1
> 400 square metres 0.5:1
(2B) Despite subclause (2), development for the purposes of residential flat buildings on land identified with a thick red line and labelled “F” on the Floor Space Ratio Map may exceed the maximum floor space ratio shown for the land on the Floor Space Ratio Map by no more than 0.25:1. 4.5 Calculation of floor space ratio and site area
(1) Objectives The objectives of this clause are as follows:
(a) to define floor space ratio, (b) to set out rules for the calculation of the site area of development for the purpose of applying permitted floor space ratios, including rules to: (i) prevent the inclusion in the site area of an area that has no significant development being carried out on it, and (ii) prevent the inclusion in the site area of an area that has already been included as part of a site area to maximise floor space area in another building, and (iii) require community land and public places to be dealt with separately.
(2) Definition of “floor space ratio The floor space ratio of buildings on a site is the ratio of the gross floor area of all buildings within the site to the site area. (3) Site area In determining the site area of proposed development for the purpose of applying a floor space ratio, the site area is taken to be:
(a) if the proposed development is to be carried out on only one lot, the area of that lot, or (b) if the proposed development is to be carried out on 2 or more lots, the area of any lot on which the development is proposed to be carried out that has at least one common boundary with another lot on which the development is being carried out.
In addition, subclauses (4)–(7) apply to the calculation of site area for the purposes of applying a floor space ratio to proposed development. (4) Exclusions from site area The following land must be excluded from the site area: Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 15 of 81
3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued)
(a) land on which the proposed development is prohibited, whether under this Plan or any other law, (b) Community land or a public place (except as provided by subclause (7)).
(5) Strata subdivisions The area of a lot that is wholly or partly on top of another or others in a strata subdivision is to be included in the calculation of the site area only to the extent that it does not overlap with another lot already included in the site area calculation. (6) Only significant development to be included The site area for proposed development must not include a lot additional to a lot or lots on which the development is being carried out unless the proposed development includes significant development on that additional lot. (7) Certain public land to be separately considered For the purpose of applying a floor space ratio to any proposed development on, above or below community land or a public place, the site area must only include an area that is on, above or below that community land or public place, and is occupied or physically affected by the proposed development, and may not include any other area on which the proposed development is to be carried out. (8) Existing buildings The gross floor area of any existing or proposed buildings within the vertical projection (above or below ground) of the boundaries of a site is to be included in the calculation of the total floor space for the purposes of applying a floor space ratio, whether or not the proposed development relates to all of the buildings. (9) Covenants to prevent “double dipping” When development consent is granted to development on a site comprised of 2 or more lots, a condition of the consent may require a covenant to be registered that prevents the creation of floor area on a lot (the restricted lot) if the consent authority is satisfied that an equivalent quantity of floor area will be created on another lot only because the site included the restricted lot. (10) Covenants affect consolidated sites If:
(a) a covenant of the kind referred to in subclause (9) applies to any land (affected land), and
(b) proposed development relates to the affected land and other land that together comprise the site of the proposed development, the maximum amount of floor area allowed on the other land by the floor space ratio fixed for the site by this Plan is reduced by the quantity of floor space area the covenant prevents being created on the affected land.
(11) Definition In this clause, public place has the same meaning as it has in the Local Government Act 1993. Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 16 of 81
3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued) 4.6 Exceptions to development standards
(1) The objectives of this clause are as follows: (a) to provide an appropriate degree of flexibility in applying certain development standards to particular development, (b) to achieve better outcomes for and from development by allowing flexibility in particular circumstances.
(2) Development consent may, subject to this clause, be granted for development even though the development would contravene a development standard imposed by this or any other environmental planning instrument. However, this clause does not apply to a development standard that is expressly excluded from the operation of this clause. (3) Development consent must not be granted for development that contravenes a development standard unless the consent authority has considered a written request from the applicant that seeks to justify the contravention of the development standard by demonstrating:
(a) that compliance with the development standard is unreasonable or unnecessary in the circumstances of the case, and (b) that there are sufficient environmental planning grounds to justify contravening the development standard.
(4) Development consent must not be granted for development that contravenes a development standard unless:
(a) the consent authority is satisfied that: (i) the applicant’s written request has adequately addressed the matters required to be demonstrated by subclause (3), and (ii) the proposed development will be in the public interest because it is consistent with the objectives of the particular standard and the objectives for development within the zone in which the development is proposed to be carried out, and
(b) the concurrence of the Director-General has been obtained.
(5) In deciding whether to grant concurrence, the Director-General must consider: (a) whether contravention of the development standard raises any matter of significance for State or regional environmental planning, and (b) the public benefit of maintaining the development standard, and (c) any other matters required to be taken into consideration by the Director-General before granting concurrence.
(6) Development consent must not be granted under this clause for a subdivision of land in Zone RU1 Primary Production, Zone RU2 Rural Landscape, Zone RU3 Forestry, Zone RU4 Primary Production Small Lots, Zone RU6 Transition, Zone R5 Large Lot Residential, Zone E2 Environmental Conservation, Zone E3 Environmental Management or Zone E4 Environmental Living if:
(a) the subdivision will result in 2 or more lots of less than the minimum area specified for such lots by a development standard, or
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3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued)
(b) the subdivision will result in at least one lot that is less than 90% of the minimum area specified for such a lot by a development standard.
Note. When this Plan was made it did not include Zone RU1 Primary Production, Zone RU2 Rural Landscape, Zone RU3 Forestry, Zone RU4 Primary Production Small Lots, Zone RU6 Transition, Zone R5 Large Lot Residential, Zone E2 Environmental Conservation, Zone E3 Environmental Management or Zone E4 Environmental Living. (7) After determining a development application made pursuant to this clause, the consent authority must keep a record of its assessment of the factors required to be addressed in the applicant’s written request referred to in subclause (3). (8) This clause does not allow development consent to be granted for development that would contravene any of the following:
(a) a development standard for complying development, (b) a development standard that arises, under the regulations under the Act, in connection with a commitment set out in a BASIX certificate for a building to which State Environmental Planning Policy (Building Sustainability Index: BASIX) 2004 applies or for the land on which such a building is situated, (c) clause 5.4.
6.9 Conversion of industrial buildings and warehouse buildings to residential flat buildings, multi dwelling housing and office premises
(1) The objective of this clause is to provide for the adaptive reuse of existing industrial buildings and warehouse buildings to residential flat buildings, multi dwelling housing and office premises. (2) This clause applies to land in the following zones: (a) Zone R1 General Residential, (b) Zone R2 Low Density Residential, (c) Zone R3 Medium Density Residential, (d) Zone R4 High Density Residential. (3) Development consent must not be granted to development for the purpose of multi dwelling housing, office premises or residential flat buildings on land to which this clause applies unless: (a) the development relates to a building that was designed and constructed for an industrial or warehouse purpose and was erected before the commencement of this Plan, and (b) the consent authority has considered the following:
(i) the impact of the development on the scale and streetscape of the surrounding locality, (ii) the suitability of the building for adaptive reuse, (iii) the degree of modification of the footprint and facade of the building.
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3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued) (4) Despite clause 4.3 (2) or 4.4, development carried out under this clause is not subject to any height or floor space ratio limits shown for the land on the Height of Buildings Map or the Floor Space Ratio Map.
6.10 Use of existing non-residential buildings in residential zones (1) The objective of this clause is to provide for the reuse of buildings for non-residential
purposes.
(2) This clause applies to land in the following zones: (a) Zone R1 General Residential, (b) Zone R2 Low Density Residential, (c) Zone R3 Medium Density Residential, (d) Zone R4 High Density Residential.
(3) Development consent must not be granted to development for the purpose of office premises, shops, restaurants or cafes or take away food and drink premises on land to which this clause applies unless: (a) the development relates to a building that was designed and constructed for the purpose of a shop and was erected before the commencement of this Plan, and (b) the consent authority has considered the following: (i) the impact of the development on the amenity of the surrounding locality, (ii) the suitability of the building for adaptive reuse, (iii) the degree of modification of the footprint and facade of the building.
6.11 Use of Dwelling houses in business and industrial zones.
(1) The objective of this clause is to provide for the use of purpose built dwelling houses in business and industrial zones, for residential purposes, under particular circumstances. (2) This clause applies to land in the following zones: (a) Zone B1 Neighborhood Centre, (b) Zone B4 Mixed Use, (c) Zone B5 Business Development, (d) Zone B6 Enterprise Corridor, (e) Zone B7 Business Park, (f) Zone IN1 General Industrial, g) Zone IN2 Light Industrial. (3) Development consent must not be granted to development for the purpose of a dwelling house on land to which this clause applies unless: (a) there is an existing dwelling house on the land that was erected before the commencement of this Plan, (b) the existing dwelling house will be substantially retained and will not require significant structural alterations, (c) the existing dwelling house will offer satisfactory residential amenity
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1 Use of certain land at 165 Edgeware Road, Enmore (1) This clause applies to land at 165 Edgeware Road, Enmore, being Lot D, DP 355228 in Zone B1 Neighbourhood Centre. (2) Development for the purpose of a pub is permitted with consent. 2 Use of certain land at Old Canterbury Road, Lewisham (1) This clause applies to certain land in Lewisham coloured blue and identified as “A” on the Key Sites Map. (2) Development for the purpose of residential accommodation is permitted with consent, but only as part of a mixed use development. 3 Use of certain land at Addison Road, Marrickville (1) This clause applies to land shown coloured blue and identified as “B” on the Key Sites Map. (2) Development for the purpose of residential accommodation is permitted with consent, but only as part of a mixed use development. 4 Use of certain land at 72 Frampton Avenue, Marrickville (1) This clause applies to land at 72 Frampton Avenue, Marrickville, being Lot 19, DP 4433 in Zone R2 Low Density Residential. (2) Development for the purpose of a warehouse and distribution centre is permitted with consent. 5 Use of certain land at 74 Frampton Avenue, Marrickville (1) This clause applies to land at 74 Frampton Avenue, Marrickville, being Lot 18, DP 4433 in Zone R2 Low Density Residential. (2) Development for the purpose of a warehouse and distribution centre is permitted with consent. 6 Use of certain land at 51 Garners Avenue, Marrickville (1) This clause applies to land at 51 Garners Avenue, Marrickville, being Lot 41, DP 816662 in Zone R2 Low Density Residential. (2) Development for the purpose of a medical centre is permitted with consent. 7 Use of certain land at Illawarra Road, Thornley Street and Warne Place, Marrickville (1) This clause applies to land shown coloured blue and identified as “C” on the Key Sites Map. (2) Development for the purpose of business premises, office premises, restaurants or cafes, shops and take away food and drink premises is permitted with consent. 8 Use of certain land at Marrickville Road, Marrickville and Princes Highway, Tempe (1) This clause applies to land shown coloured blue and identified as “D” on the Key Sites Map. (2) Development for the purpose of retail premises is permitted with consent. 9 Use of certain land at 313–319 Marrickville Road and 182–186 Livingstone Road, Marrickville (1) This clause applies to land at 313–319 Marrickville Road and 182–186 Livingstone Road,
Marrickville, being Lot 2, DP 872693 and Lot 2, DP 103507 in Zone B2 Local Centre.
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3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued) (2) Development for following purposes is permitted with consent:
(a) residential flat buildings (but only as part of a mixed use development that contains a non-residential use permitted in the zone), and (b) residential flat buildings within heritage buildings retained on the land.
10 Use of certain land at 394 Marrickville Road, Marrickville (1) This clause applies to land at 394 Marrickville Road, Marrickville, being Lot 1, Section 1, DP 5482. (2) Development for the purpose of business premises and offices premises is permitted with consent. 11 Use of certain land at 36 Alice Street, Newtown (1) This clause applies to land at 36 Alice Street, Newtown, being Lot 203, DP 772164 and SP 32809. (2) Development for the purpose of residential accommodation is permitted with consent, but only as part of a mixed use development. 12 Use of certain land at 76 Wilford Street, Newtown (1) This clause applies to land at 76 Wilford Street, Newtown, being Lot 1, DP 617685. (2) Development for the purpose of residential accommodation is permitted with consent, but only as part of a mixed use development. 13 Use of certain land at 2–14 Fisher Street and 126 Crystal Street, Petersham (1) This clause applies to land at 2–14 Fisher Street and 126 Crystal Street, Petersham, being Lot 1, DP 587859 and Lot 5, DP 52786. (2) Development for the purpose of residential flat buildings is permitted with consent. 14 Use of certain land at 3–7 Regent Street, 287 Trafalgar Street and 16–20 Fisher Street, Petersham (1) This clause applies to land at 3–7 Regent Street, 287 Trafalgar Street, and 16–20 Fisher Street Petersham, being Lot 1, DP 629058, Lot 10, DP 1004198 and Lots A, B and C, DP 440676. (2) Development for the purpose of a registered club is permitted with consent. 15 Use of certain land at St Peters (1) This clause applies to certain land in St Peters as shown coloured blue on the Key Sites Map. (2) Development for the following purposes is permitted with consent:
(a) on land identified as “E” on the Key Sites Map—residential accommodation, but only as part of a mixed use development, (b) on land identified as “F” on the Key Sites Map—residential accommodation, but only as part of a mixed use development, (c) on land identified as “G” on the Key Sites Map—bulky goods premises and residential accommodation, but only as part of a mixed use development, (d) on land identified as “H” on the Key Sites Map—retail premises and residential accommodation (only as part of a mixed use development).
16 Use of certain land at Princes Highway, St Peters and Bellevue Street, Tempe (1) This clause applies to land shown coloured blue and identified as “I” on the Key Sites Map.
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3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued) (2) Development for the purpose of bulky goods premises is permitted with consent. 17 Use of certain land at 500 Princes Highway, St Peters (1) This clause applies to land at 500 Princes Highway, St Peters, being Lot 11, DP 1083971. (2) Development for the following purposes is permitted with consent:
(a) bulky goods premises, and (b) retail premises (only in relation to engineering supplies or tools or vehicle parts and accessories).
18 Use of certain land at 162 Unwins Bridge Road, St Peters (1) This clause applies to land at 162 Unwins Bridge Road, St Peters, being Lots 20 and 22, DP 726. (2) Development for the purpose of landscaping material supplies is permitted with consent. 19 Use of certain land at Railway Road, Sydenham (1) This clause applies to land shown coloured blue and identified as “J” on the Key Sites Map. (2) Development for the purpose of business premises and office premises is permitted with consent. 20 Use of certain land at 24A Railway Road, Sydenham (1) This clause applies to land at 24A Railway Road, Sydenham, being Lots 82–84, DP 750.
(2) Development for the purpose of a place of public worship is permitted with consent. 21 Use of certain land at Tempe, known as the Tempe Bus Depot (1) This clause applies to lands at 1 Tramway Street, Tempe, being Lot 1, DP 925726, 1B Gannon St, Tempe, being Lot PT1, DP 724918, Princes Highway, being Lot 1710, DP 1140035 and 739A Princes Highway, being Lot B, DP 110314. (2) Development for the purpose of a passenger transport facility is permitted with consent.
The MDCP 2011 comprises nine parts. These parts contain controls which must be considered in
the planning and design of any new development, from alteration and additions to dwelling houses, to new industrial buildings or shop top housing in town centres. The 9 Parts include but are not limited to:
Part 1 – Statutory Information
Part 2 – Generic Provisions • Site and Context analysis • Parking • Sustainable design • Flood Management • Contaminated Land
Part 3 – Subdivision, Amalgamation and Movement Network
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3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued) Part 4 – Residential Development
• Low Density Residential • Multi Dwelling Housing and Residential Flat Building
3.0 TOWN PLANNING & ZONING INSTRUMENTS. (Continued) Part 5 – Commercial and Mixed Use Development Part 6 – Industrial Development Part 7 – Miscellaneous Development
• Child Care Centres • Telecommunication Facilities • Sex industry and Adult Business Premises
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Marrickville Final Report 2015
4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS.
The NSW Government has extended the light rail network from Lilyfield to Dulwich Hill. The 5.6km of light rail extension to the Inner West runs from the current light rail terminus at Lilyfield along the disused freight corridor to Dulwich Hill. This extension is expected to have a significant impact on the surrounding residential environment and will boost investment and site demand, with the residential areas of Leichhardt, Dulwich Hill and Marrickville are set to benefit. The residential market continues to grow particularly in the Inner West unit markets. It appears developers remain positive about long term prospects with the continuing high level of buyer demand for new stock. Low interest rates have been a key driver for both the local and overseas investor-led demand for inner city apartments. The land around Lewisham along Old Canterbury Road, between Longport and McGill continue to be developed with more developments being submitted to Marrickville Council over the last reporting year. The commercial centre of Newtown Town Centre appears to be growing and enveloping some traditional areas once considered to be secondary into prime locations. The town centre also appears to be migrating further north along King St, whilst the whole centre across its length and breadth is gaining momentum. Its diversity of entertainment options, good access and the lock-out laws in other competing entertainment precincts, have all contributed to this underswell of growth. WestConnex A motorway project to connect Parramatta with Sydney Airport and beyond. The WestConnex is a 33km motorway proposed to travel from Parramatta along the M4/Parramatta Road corridor to Beverly Hills. It is proposed to connect Parramatta, Sydney Airport and Beverly Hills. The section of the WestConnex that passes through Leichhardt is a tunnel under Parramatta Road, from Hawthorne Canal to Camperdown and continue to emerge at Princes Hwy at St Peters. The land acquisition program The WestConnex was first announced by the State Government in 2012 as part of the Infrastructure NSW report titled "First Things First". The total project is estimated to cost between $11 to $11.5 billion with $200 million allocated to "seed funding" for Urban Revitalisation along the corridor. The project has been divided into two separate projects:
• The WestConnex Motorway and • The Parramatta Road Urban Renewal Program
Two national bulky goods retails have announced that they intend to open a chain of their business in Marrickville over the last year. Masters are proposing an outlet on Edinburgh Rd close to Marrickville Metro shopping Centre following the purchase of a vacant land site and Bunnings have a slightly longer term proposal to move into the old Penfolds Wine Store (heritage listed) adjoin Ikea’s Tempe store following the expiration of an existing lease and reconfiguring works.
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Marrickville Final Report 2015
4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENT S OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS (Continued) Overall, the past reporting year has seen an increased amount of development applications for mixed use developments over the whole of the Marrickville district. These developments are based on several factors which reflect the desirable nature of these sites in terms of proximity to transport nodes and other local amenities. The most significant developments include:
• DA approved April 2015 for 1-3 McGill St, 7 McGill St and 102-106 Old Canterbury Rd,
Lewisham to demolish existing and construct a 5 storey mixed use development containing 3 commercial tenancies, 54 dwellings and a basement car parking.
• DA approved December 2014 for 17 McGill St, Lewisham to demolish existing improvements and construct a 6 storey residential flat building fronting McGill and a 5 storey mixed use development fronting Old Canterbury Road, over 2 levels of basement parking; containing ground floor commercial tenancies and 39 dwellings.
• DA lodged September 2014 for 429 New Canterbury Rd, Dulwich Hill to partially
demolish premises and construct a mixed use development containing ground floor commercial tenancies and 71 dwelling s over basement car parking.
• DA lodged October 2014 for 110 Addison Rd, Marrickville to demolish improvements and construct a 4 storey mixed use development with 3 commercial tenancies and associated car parking on the ground floor, 33 dwellings on the upper floors with basement car parking. Decision currently pending with L&E Court.
• DA lodged October 2014 for 407 Illawarra Rd, Marrickville to demolish improvements
and erect a 5 storey mixed use development with the fourth and fifth stories extending over the building at 409 Illawarra Road, containing a restaurant and shop on the ground floor with dwellings on the upper floors.
• DA lodged October 2014 for 23-29 Barwon Park Rd, St Peters to demolish part of the premises and construct a residential flat building containing 14 dwellings and associated car parking.
• DA lodged October 2014 for 149 Livingston Rd, Marrickville to demolish existing
improvements and construct a 4 storey residential flat building over basement car parking level containing 11 dwellings.
• DA lodged November 2014 for 63 Princes Hwy, Tempe to demolish existing improvements
and construct a mixed used development ranging in height between 5 and 7 storeys comprising of 3 ground floor commercial tenancies, 94 dwellings and 2 basement car parking levels.
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Marrickville Final Report 2015
4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENT S OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS (Continued)
• DA lodged November 2014 for 727 New Canterbury Rd, Dulwich Hill to demolish existing improvements and construct a 4 storey mixed used development comprising of 1 commercial tenancy on the ground floor and 5 dwellings (2 x 1 bedroom dwellings & 3 x 1 bedroom plus study dwellings) on the upper floor with associated parking and storage areas.
• DA lodged with L&E Court December 2014 for 2 Dudley St, Marrickville to demolish
existing improvements and erect a 7 storey mixed use development over a basement car park containing a ground floor commercial tenancy and 30 dwellings.
• DA lodged December 2014 for 8 William St, Lewisham to demolish existing improvements
and construct a 5 storey residential flat building with 7 dwellings. • DA approved September 2015 for 1 West Street, Petersham to demolish the existing
improvements and construct a 4 part 5 storey residential flat building containing 41 dwellings over 3 basement levels of car parking containing a total of 41 car parking spaces.
• DA lodged December 2014 for 39 Barwon Park Rd, St Peters to demolish existing
improvements and construct a 4 storey residential flat building containing 9 dwellings and basement carpark for 9 vehicles.
• DA lodged February 2015 for 265 Wardell Rd, Marrickville to demolish the existing
improvements and the erect a 6 storey mixed use development with 2 ground floor commercial/retail tenancies and 16 dwellings with 2 basement car parking levels.
• DA lodged March 2015 for 801 New Canterbury Rd, Dulwich Hill to demolish existing
improvements and construct a 5 storey development consisting of a residential flat building (Building A) containing 44 dwellings and a mixed use building (Building B) containing 3 retail tenancies; 38 dwellings over 2 levels of basement parking. Approved October 2015.
• DA lodged March 2015 for 43 Enmore Rd, Enmore to demolish existing improvements
and construct a 4 storey mixed use development containing 1 commercial tenancy on the ground floor and 5 dwellings on the upper floors with associated car parking.
• DA lodged March 2015 for 449 Marrickville Rd, Dulwich Hill to demolish and erect a 4
storey shop top housing development containing 1 shop and 6 dwellings with 2 car parking spaces.
• DA lodged April 2015 for 260 Wardell Rd, Marrickville to demolish existing
improvements and construct a 6 storey mixed use development with ground floor commercial/retail tenancy and 22 dwellings on upper floors with 3 levels of basement car parking.
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Marrickville Final Report 2015
4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENT S OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS (Continued) • DA lodged April 2015 for 589 New Canterbury Rd, Dulwich Hill to demolish the existing
improvements and construct a 5 storey residential flat building with 18 dwellings over a basement car parking level.
• DA lodged May 2015 for 14 McGill St, Lewisham to demolish existing improvements and
construct an 8 storey plus mezzanine level residential flat building containing 63 dwellings with 4 basement car parking levels.
• DA lodged May 2015 for 2-8 Arthur St, Marrickville to demolish existing improvements,
consolidation of land into 1 allotment and construct a 7 storey residential flat building with 38 dwellings and 2 levels of basement car parking.
• DA lodged May 2015 for 1A Hill St, Dulwich Hill to demolish existing improvements, and
construct a 9 part 10 storey residential flat building with 66 dwellings and 3 levels of basement car parking.
• DA lodged May 2015 for 351 King St, Newtown to carry out alterations and additions to an
existing building and convert into a 4 storey mixed use building with 2 ground floor commercial tenancies, 12 dwellings on the upper floors with associated car parking.
• DA lodged May 2015 for 446 Parramatta Rd, Camperdown to demolish the existing
improvements and construct a 5 part 6 storey mixed use development with 2 ground floor commercial tenancies, 31 dwellings on the upper floors and 2 basement car parking levels.
• DA lodged 750 Princes Hwy, Tempe for use as a hardware and building supplies store
(Bunnings), over 2 levels with under croft car parking, boundary adjustments to provide a slip lane from Princes Highway into Smith Street and the widening of Smith Street on the northern side.
• DA lodged July 2015 for 27 Railway Terrace, Lewisham to demolish improvements and
construct a 5 storey mixed use development with commercial tenancies, 18 dwellings and basement car parking.
• DA lodged July 2015 for 6 Livingston Rd, Petersham to convert the premises into a mixed
use development containing 2 ground floor commercial tenancies and 18 dwellings on the upper floors with associated site and public domain works and dedication of land for a public laneway.
• DA lodged July 2015 for 164 Enmore Rd, Enmore to demolish existing improvements and
construct a 4 storey shop top housing development containing 2 commercial tenancies on the ground floor and 9 dwellings above, with basement car parking.
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Marrickville Final Report 2015
4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENT S OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS (Continued) • DA lodged July 2015 for 9 Hutchinson St, St Peters to demolish existing improvements
and construct a 4 storey mixed use development comprising 1 commercial suite on the ground floor and 7 live/work dwellings on the levels above, as well as basement car parking.
• DA lodged August 2015 for 80 Parramatta Rd, Camperdown to demolish existing
improvements and construct 4 part 5 storey mixed use development with 4 commercial tenancies on the ground floor level, 20 dwellings on the upper floors and associated car parking.
• DA lodged September 2015 for 247-249 Wardell Rd, Marrickville to demolish existing
improvements and construct a 7 storey mixed use development with a commercial tenancy on the ground floor level; 33 boarding rooms (including a caretakers unit) on the upper floor levels and basement bicycle and waste storage facilities.
• DA lodged September 2015 for 158 New Canterbury Rd, Petersham to demolish existing
improvements and construct a 3 part 5 storey mixed use development containing a commercial tenancy and car parking on the ground floor and 24 boarding rooms including a manager's residence on the upper floor.
• DA lodged September 2015 for 38 Princes Hwy, Tempe to demolish existing improvements
and construct a mixed use development with a 5 storey building (Building A) fronting Princes Highway and a 6 storey building (Building B) fronting Barwon Park Road containing a total of 4 commercial tenancies, 36 dwellings and 3 basement car parking levels containing 45 car spaces.
• DA lodged September 2015 for 326-330 Marrickville Rd, Marrickville to retain the
existing front façade and demolish the remainder of the premises and construct a 6 storey mixed use development with 2 commercial tenancies and associated car parking/loading areas on the ground floor level, 39 dwellings on the upper floors and 2 basement car parking levels.
• DA lodged September 2015 for 27 Gordon St, Petersham to demolish existing improvements and construct a 6 storey residential flat building containing 13 dwellings with basement storage and car parking stackers.
• DA lodged October 2015 for 266 Unwins Bridge Rd, Sydenham to demolish existing
improvements and construct a 3 storey mixed use development with a commercial tenancy on the ground floor and 4 dwellings on the upper floors with associated car parking.
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Marrickville Final Report 2015
4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENT S OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS (Continued) Aircraft noise is a continuing factor within the Marrickville Local Government Area however any affectation is reflected in the relevant market evidence. Air Services Australia produces quarterly Noise Information Reports for major urban areas. These reports include information and analysis on aircraft movements, noise monitoring and complaint issues and are available at the following web site www.airservicesaustralia.com.au The High Court decision Maurici v Deputy Commissioner of Land Tax requires that the valuation be made free of any influence of scarcity. In effect, the valuer is required to have regard to the whole market and not just the vacant land sales. In order to fulfil this requirement Southern Alliance Valuation Services Pty Ltd will have regard to all the sales evidence.
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Residential: In addition to vacant land sales, improved sales were used to assist in determining the market levels for land values and to negate any possibility of a scarcity factor. The Paired Sales Approach was not the only valuation approach used in Marrickville as this method relies upon a reasonable volume of vacant land sales and as Marrickville is predominately an established area. This method has been supplemented in this district by the depreciated cost of improvements new which is viewed as more reliable in some instances.
The table below details the results obtained for the Marrickville valuation district. The schedule provided is general in nature and each analysed sale is assessed individually when determining the added value of improvements to capture specific features e.g. renovations, pools, landscaping, no. of levels, topography etc.
Property Type Condition Added value of
Improvements from Paired Analysis
Fibrous Cement & Permalum Clad dwellings.
2 to 3 bedroom.
Fair to Good. Approx. 40 to 60 years in age of construction. $100,000 to $150,000
Brick dwellings. 2 to 3 bedroom.
Fair to Good. Approx. 60 to 100+ years in age of construction $150,000 to $250,000
Brick dwellings. 2 to 3 bedroom.
Good. Renovated. Approx. 60 to 100+ years in age of construction $250,000 - $350,000
Brick dwellings. 3 to 5 bedroom.
Fair to Good. Approx. 60 to 100+ years in age of construction $250,000 - $350,000
Brick dwellings. 3 to 5 bedroom.
Good. Renovated. Approx. 60 to 100+ years in age of construction $350,000 - $500,000+
Brick dwellings. 2 to 3 bedroom.
Fair to Good. Approx. 20 to 60 years in age of construction $125,000 - $225,000
Brick dwellings. 2 to 3 bedroom.
Good. Renovated. Approx. 20 to 60 years in age of construction $225,000 - $325,000
Brick dwellings. 3 to 5 bedroom.
Fair to Good. Approx. 20 to 60 years in age of construction $225,000 - $325,000
Brick dwellings. 3 to 5 bedroom.
Good. Renovated. Approx. 20 to 60 years in age of construction $325,000 - $500,000
Brick dwellings. 3 to 6 bedroom.
Modern construction. Architect designed. $500,000 - $850,000 +
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS. (Continued) Examples of Paired Sales Analysis within Inner West LGA’s: BURWOOD CONTRACT Site value sale at 38 Auburn St, Hunters Hill. Sold 29/11/2014 for $1,380,000 (Analysed
as $1,189,000). Dims: 18.29/15.24 x 44.15/43.54 Irreg. Area: 708.2m2
Paired with: 41 Bateman Rd, Gladesville. Sold 09/02/2015 for $1,615,000 Dims: 13.72 x 54.61/54.64m Area: 749.6m2 Freestanding 3 bedroom single storey brick and tile dwelling Art Deco dwelling, concrete side driveway and grassed rear yard. Situated in a two way residential side street. GBA 210m and garden shed of 15m. After allowing for size, location, date etc shows $504,000 ($2,400/m2) for this type of improvement and $28,000 for all other improvements. 23 Abigail St, Hunters Hill. Sold 16/08/2014 for $1,605,000 Dims: 12.22/20.14m x 38.1x37.57m Area: 607.9m2 Single storey freestanding 2 bedroom brick and tile Art Deco bungalow, with detached carport, concrete side driveway, grassed rear yard and garden shed. Situated in a quiet narrow two way residential side street. GBA 130m dwelling and carport/garden shed 30m, all appearing in solid but dated condition. After allowing for size, location, date etc shows $325,000 ($2,500/m2) for this type of improvement and $40,000 for all other site improvements.
Site Value sale at 22 Mount St, Hunters Hill. Sold 28/03/2015 for $1,632,000 (Analysed as $1,467,000).
Dims: 5.82/51.41m x 62.97/83.49m Irreg. Area: 1,296m2 84 Blaxland Rd, Hunters Hill. Sold 11/03/2015 for $1,600,000 Dims: 25.0/24.5m x 50.4/53.6m Area: 1,213m2 Freestanding double storey brick and iron circa 1970’s dwelling, with under house garage, laundry/storage, entertainment verandah, established gardens. Situated in a quiet residential dead end street. GBA 200m dwelling and garage/laundry/storage 60m, all appearing to be in good condition. After allowing for size, location, date etc shows $360,000 ($1,800/m2) for this type of improvement and $80,000 for all other improvements.
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS (Continued) 77 Bonnefin Rd, Hunters Hill. Sold 13/02/2015 for $ 1,900,000 Dims: 11.4/18.14m x 58.39/60.3m Area: 862.4m2
Freestanding double storey brick and tile circa 1940,s dwelling, attached garage, established gardens with in-ground pool. Situated in a quiet narrow two way side residential side street. GBA 190m dwelling and garage of 30m, all appearing in well maintained condition. After allowing for size, location, date etc shows $342,000 ($1,800/m2) for this type of improvement and $75,000 for all other improvements.
Site Value sale at 144 Queen St, Five Dock. Sold 13/04/2015 for $1,050,000 (Analysed as $836,000).
Dims: 15.24 x 29.87m Area: 455.3m2 Paired with: 22 Bayview Rd, Canada Bay. Sold 11/04/2015 for $1,200,000 Dims: 8.76/9.14 x 44.25/44.27m Area: 392m2 Freestanding single storey 3 bedroom brick and tile dwelling circa 1940’s with attached garage, workshop and covered patio. Almost regular shaped parcel of land situated on a wide residential side street. GBA 115m dwelling and garage/workshop of 50m all appearing in tidy but dated condition. After allowing for size, location, date etc shows $218,500 ($1,900/m2) for this type of improvement and $55,000 for all other improvements. 51 Wareemba St, Wareemba. Sold 08/11/2014 for $1,500,000 Dims: 12.5 x 34.39/34.09m Area: 423.7m Freestanding single storey 3 bedroom Californian bungalow carport, side driveway to detached garage, undercover patio and grassed rear yard. Almost regular shaped parcel of land situated on a quiet two way residential side street. GBA 155m dwelling and garage/carport of 45m all presenting in neat but dated condition. After allowing for size, location, date etc shows $341,000 ($2,200/m2) for this type of improvements and $42,000 for all other improvements.
Site Value sale at 86 Correys Ave, Concord. Sold 18/10/2014 for $1,335,000 (Analysed as $1,015,150).
Dims: 12.6 x 42.67m Area: 537.64m2 Paired with: 27 Gloucester St, Concord. Sold 06/12/2014 for $1,481,000 Dims: 15.24 x 36.58m Area: 557.8m2
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS (Continued) Single storey freestanding 3 bedroom brick and tile dwelling circa 1940’s, detached garage and grassed rear yard. Regular shaped parcel of land located on a quiet two way residential side street. GBA 120m dwelling and garage of 20m all presenting in solid but dated condition. After allowing for size, location, date etc shows $270,000 ($2,250/m2) for this type of improvement and $40,000 for all other improvements. 14 Keppel Ave, Concord. Sold 08/11/2014 for $1,400,000 Dims: 15.24 x 38.1m Area: 580.64m2 Freestanding single storey 4 bedroom Federation dwelling, concrete side driveway and grassed rear yard. Regular shaped parcel of land situated on a quiet tree lined two way residential side street. GBA 135m dwelling presenting in good condition. After allowing for size, location, date etc shows $390,000 ($2,850/m2) for this type of improvement and $36,000 for all other improvements.
Site value sale at 1 Battersea St, Abbotsford. Sold 27/11/2014 for $1,400,000 (Analysed as $1,232,000).
Dims: 11.28 x 30.18m Area: 335.1m2 Paired with: 88 Clements St Russell Lea. Sold 12/12/2014 for $1,660,000 Dims: 12.19 x 36.58m Area: 442.6m2 Freestanding single storey 3 bedroom brick and tile dwelling circa 1920’s, workshop/shed and grassed rear yard. Elevated regular shaped parcel of land situated on quiet two way residential side street. GBA 100m dwelling and workshop of 15m all appearing to be in solid but dated condition. After allowing for size, location, date etc show $2,300,000 ($2,300/m2) for this type of dwelling and $28,000 for all other improvements. 65 Walton Cres, Abbotsford. Sold 28/03/2015 for $1,790,000 Dims: 14.63/14.76 x 29.92/27.97m Area: 423.7m2 Freestanding single storey 3 bedroom dwelling circa 1940’s dwelling, under-house garage, rear entertainment deck and grassed rear yard. Almost regular shaped parcel of land situated on a quiet two way residential side street. GBA 120m dwelling and garage of 20m all appearing to be in well maintained condition. After allowing for size, location, date etc shows $215,000 ($2,150/m2) for this type of dwelling and $35,000 for all other improvements.
Site Value sale at 5 Stephen St, Balmain. Sold 23/05/2015 for $1,020,000 (Analysed $1,020,000).
Dims: 8.23 x 1806m Area: 151.8m
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS (Continued) Paired with: 21 Macquarie Tce, Balmain. Sold 23/05/2015 for $1,360,000 Dims: 6.155/6.19 x 27.275/28.32m Area: 169.2m2 Single storey freestanding 2 bedroom brick and G.I. Federation dwelling with paved rear courtyard, all presenting in good condition. Improvements represent a good utilisation of the site. Situated on a wide residential street with a central grass medium strip, located close to all amenities. GBA 95m dwelling and paved rear courtyard. After allowing for size, location, date etc shows $275,500 ($2,900/m2) for this type of improvement and $25,000 for all other improvements. 11 Claremont St, Balmain. Sold 20/11/2014 for $1,200,000 Dims: 6.1 x 24.38m Area: 148.72m2 Single storey freestanding 2 bedroom weatherboard and G.I. Victorian dwelling, courtyard, all presenting in solid but dated condition. Improvements represent a basic use of the site. Situated in a quiet two way residential side street, located close to amenities. GBA 80m dwelling, garage/shed of 20m and courtyard. After allowing for size, location, date etc shows $144,000 ($1,800/m2) for this type of improvement and $20,000 for all other improvements.
Site Value sale of 21 Bruce St, Rozelle. Sold 23/05/2015 for $1,456,000 (Analysed as $1,216,000)
Dims: 10.6 x 19.2m Area: 193.1m2 Paired with: 16 Bruce St, Rozelle. Sold 21/04/2015 for $1,850,000 Dims: 11.13 x 19.51m Area: 217.15m2 Double storey freestanding architecturally designed 3 bedroom weatherboard/sandstone dwelling, landscaped courtyard and entertainment deck, all presenting in good condition. Improvements represent a good utilisation of the site. Situated in quiet residential one-way street, located close to all amenities. GBA 160m dwelling, entertainment deck and courtyard. After allowing for size, location, date etc shows $504,000 ($3,150/m2) for this type if improvement and $76,000 for all other improvements. 39 Cove St, Birchgrove. Sold 06/12/2014 for $1,670,000 Dims: 7.8/7.36 x 32.66/32.34m Area: 240.3m2 Double storey semi-detached 3 bedroom Victorian terrace, established grassed rear courtyard, all presenting in solid and partly renovated condition. Improvements represent a good utilisation of the site. Situated in quiet two way residential side street, close to amenities. GBA 145m dwelling and courtyard.
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS (Continued) After allowing for size, location, date etc shows $355,250 ($2,450/m) for this type of improvement and $23,000 for all other improvements.
Site Value sale at 30 Brooklyn St, Tempe. Sold 29/04/2015 for $1,131,000 (Analysed as $922,000).
Dims: 9.8/9.42 x 39.67m Area: 379.4m2 Paired with: 201 Addison Rd, Marrickville. Sold 07/11/2014 for $936,000. Dims: 7.91/7.64 x 30.58/30.11m Area: 234.8m2 Single storey 2 bedroom semi-detached brick and tile Art Deco dwelling, concrete paved rear courtyard and side driveway to garage, all presenting in solid condition. Improvements represent a basic utilisation of the site. Situated on a relatively busy two way residential through road close to local amenities. GBA 100m dwelling, garage of 25m and concrete paved courtyard. After allowing for size, location, date etc shows $245,000 ($2,450/m) for this type of dwelling and $30,000 for all other improvements. 9 Eltham St, Dulwich Hill. Sold 13/12/2014 for $1,296,000. Dims: 10.08/10.62 x 33.76/32.03m Area: 328.8m2 One and half storey semi-detached brick and tile Victorian dwelling, rear courtyard, all presenting in solid condition, improvements represent and underutilisation of the site. Situated in a quiet two way residential side street, located close to local amenities. GBA 170m dwelling and rear courtyard with concrete paving and grass. After allowing for size, location, date etc shows $425,000 ($2,500/m) for this type of dwelling and $20,000 for all other improvements.
Site Value sale at 21 Clissold St, Ashfield. Sold 01/11/2014 for $1,312,000 (analysed, $1,065,000) Dims: 17.07 x 33.43 / 33.39m Area: 569.1m2
Paired with: 1 Curt St, Ashfield. Sold on 11/09/2015 for $1,330,000 Dims: 12.19 / 13.23 x 30.48 / 32.42m Area: 379.4m2 Single storey three bedroom brick and tile bungalow style dwelling all presenting in average condition throughout. Situated in a quiet two way street. GBA of dwelling 120m2. After allowing for area, size, shape, date of sale, etc. improvements show $275,000 ($2,292/m2) for this type of dwelling and another $40,000 for other site improvements. Or paired with:
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS (Continued) 28 Bay St, Croydon. Sold on 03/09/2015 for $1,400,000 Dims: 12.19 x 63.5 / 63.3m Area: 771.4m2 Single storey two bedroom timber weatherboard dwelling all presenting in good condition throughout. Situated in a two way street with light passing traffic. GBA of dwelling 135m2. After allowing for area, size, shape, date of sale, etc. improvements show $250,000 ($1,852/m2) for this type of dwelling and another $30,000 for other site improvements. Site Value sale at 39 Bartlett St, Summer Hill. Sold 14/03/2015 for $935,000 (analysed $676,500 Dims: 4.94 / 4.98 x 30.48m Area: 150.4m2
Paired with: 3 Frederick St, Ashfield. Sold on 20/01/2015 for $875,000 Dims: 9.14 x 33.1 / 33.6m Area: 297.2m2 One and a half storey four bedroom partly renovated but unfinished brick and tile dwelling all presenting in average condition throughout. GBA of dwelling 105m2. After allowing for area, size, shape, date of sale, etc. improvements show $200,000 ($1,905/m2) for this type of dwelling and another $20,000 for other site improvements. Or paired with: 7 Beatrice St, Ashfield. Sold on 08/08/2015 for $980,000 Dims: 8.5 / 7.04 x 23.48m Area: 187.9m2
A small single storey semi-detached 2 bedroom federation period home in renovated condition presenting in good condition throughout. Situated in a quiet cul-de-sac. GBA of dwelling 100m2 and other site improvements including courtyard and landscaping. After allowing for area, size, shape, date of sale, etc, improvements show $300,000 ($3,000/m2) for this type of dwelling and another $40,000 courtyard and landscaping. Site Value sale at 84 Brighton St, Croydon Park. Sold 14/11/2014 for $1,062,000 (analysed $915,500) Dims: 13.411 / 14.125 x 40.704 / 39.23m Area: 517m2
Paired with: 42 Baker St, Enfield. Sold on 20/06/2015 for $1,218,000 Dims: 10.058 x 60.96m Area: 607m2
A small single storey freestanding 2 bedroom brick and tile dated bungalow style dwelling with carport and entertainment area all presenting in average condition throughout. Situated in a quiet narrow two way street. GBA of dwelling 120m2. After allowing for area, size, shape, date of sale, etc. improvements show $300,000 ($2,500/m2) for this type of dwelling and another $20,000 for other site improvements.
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS. (Continued) Or paired with: 24 Brighton St, Croydon. Sold on 20/06/2015 for $1,390,000 Dims: 10.6 x 40.82m Area: 410.65m2
A single storey freestanding 3 bedroom brick and tile dated bungalow style dwelling with off road parking all presenting in average condition throughout. Situated in a moderately busy two way street. GBA of dwelling 130m2. After allowing for area, size, shape, date of sale, etc. improvements show $350,000 ($2,692/m2) for this type of dwelling and another $15,000 for other site improvements. Site Value sale at 73 Lang St, Croydon. Sold 29/05/2015 for $1,200,000 (analysed $916,000) Dims: 12.19 x 36.58m. Area: 470m2
Paired with: 55 Croydon Ave, Croydon. Sold on 04/07/2015 for $1,325,000 Dims: 13.95 / 2.01 x 56.21 / 53.86m Area: 427.5m2 Single storey three bedroom brick and tile federation style dwelling with attic all presenting in good condition throughout. Situated in a moderately busy two way street. GBA of dwelling 145m2. After allowing for area, size, shape, date of sale, etc. improvements show $400,000 ($2,759/m2) for this type of dwelling and another $25,000 for other site improvements. Or paired with: 81 Mitchell St, Croydon Park. Sold on 02/07/2015 for $1,350,000 Dims: 11.56 x 40.325 / 40.315m Area: 467m2 Single storey three bedroom brick and tile californian bungalow style dwelling with attic all presenting in good condition throughout. Situated on a wide two way street with moderate passing traffic. GBA of dwelling 130m2. After allowing for area, size, shape, date of sale, etc. improvements show $350,000 ($2,692/m2) for this type of dwelling and another $40,000 for other site improvements. Site Value sale at 3 Brooklyn St, Strathfield South. Sold 17/10/2014 for $927,000 (analysed $763,000) Dims: 11.94 x 46.13m. Area: 470m2
Paired with: 1 Brooklyn St, Strathfield South. Sold on 16/09/2015 for $1,120,000 Dims: 11.28 / 11.15 x 30.78m Area: 341.5m2 Single storey three bedroom brick and tile restored and renovated californian bungalow style dwelling with attic all presenting in good condition throughout. Situated on a quiet two way street. GBA of dwelling 130m2. After allowing for area, size, shape, date of sale, etc. improvements show $350,000 ($2,692/m2) for this type of dwelling and another $30,000 for other site improvements. Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 37 of 81
Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS. (Continued) Or paired with: 10 Hill St, Strathfield South. Sold on 16/09/2015 for $1,120,000 Dims: 11.28 / 11.15 x 30.78m Area: 341.5m2 Single storey four bedroom brick and tile restored and renovated californian bungalow style dwelling with attic all presenting in good condition throughout. Situated on a quiet two way street. GBA of dwelling 140m2. After allowing for area, size, shape, date of sale, etc. improvements show $350,000 ($2,692/m2) for this type of dwelling and another $30,000 for other site improvements. Site Value sale at 32 Courallie Ave, Homebush West. Sold 04/08/2015 for $1,250,000
(analysed $971,000) Dims: 12.19 x 39.62m Area: 482.97m2
Paired with: 13 Arthur St, Strathfield. Sold on 22/12/2014 for $1,420,000 Dims: 15.24 x 45.72m Area: 696.77m2
Single storey three bedroom brick and tile bungalow style dwelling with garage, all presenting in good condition throughout. Situated on a quiet two way street. GBA of dwelling 155m2. After allowing for area, size, shape, date of sale, etc. improvements show $400,000 ($2,581/m2) for this type of dwelling and another $30,000 for other site improvements. Or paired with: 9 Cartwright Ave, Homebush. Sold on 13/04/2015 for $1,260,000 Dims: 12.65 x 39.01m Area: 493.48m2
Single storey three bedroom brick and tile well-kept original bungalow style dwelling with garage, all presenting in average condition throughout. Situated on a quiet two way street. GBA of dwelling 125m2. After allowing for area, size, shape, date of sale, etc. improvements show $300,000 ($2,400/m2) for this type of dwelling and another $15,000 for other site improvements.
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS. (Continued) COMMERCIAL / RETAIL / INDUSTRIAL:
Due to the lack of sufficient vacant land sales in the Marrickville LGA for the above zone categories, the Replacement Cost approach was applied when analysing sales evidence. The Replacement Cost approach is based upon the principle that the informed purchaser would pay no more than the cost to reproduce the sale property. Hence the methodology used on analysis is as follows:
Replacement Cost Methodology: Reasonable allowance for refurbishment costs added to the sale price to bring the
improvements to an as new replacement standard where the returns would be equivalent to as new.
An appropriate entrepreneurial profit and risk allowance. On average between 10% – 15% in the Marrickville valuation area.
Allowance for interest on funds during the hypothetical construct to completion period. This is inclusive of holding charges and construction costs. Depending on borrowings between 6% - 9% was applied.
The adjusted sale price can now be analysed for land content by using industry accepted cost estimates for the as new building and development expenses. As a general summary, the cost new applied in the Marrickville districts were as follows:
Single storey retail shop $1,500 m2 gross building area Two storey retail shop with office above $2,000 m2 gross building area Two storey retail shop with residential above $2,500 m2 gross building area Industrial (depending on construction type) $500 - $1,000m2 gross building area The residual amount following this exercise will show the adjusted land value at the base date.
Other costs accounted for are:
All professional fees Costs of site works in preparation for building Cost of stamp duty and legal charges on purchase of site Costs of rates and taxes over development period Loss of interest on capital outlaid on purchase of site Loss of interest on capital outlaid on construction (av. 50% of dev. period). Legal costs and commission on sale for development sites.
Critical to the analysis is that the added value only is to be captured and taken from the Sale Price to show the Residual Land Value.
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Marrickville Final Report 2015
6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS. From the analysed sales evidence available at the commencement and during the programme, the amount of variation applied to the value of properties within each zone & component is as follows:
Value Levels - Typical Properties Typical Single Dwelling Site – Main Road (Superior Localities) (ETL) Dimensions : 6.10m x 36.58m Site Area : 223.14m2 BD 07/14 Land Value : $700,000 Factor Update : 1.280 BD 07/15 Land Value : $896,000 Typical Home Unit Site – Density Sites (All Localities) (ELL) Dimensions : 20.19m/20.27m x 55.70m/54.28m Site Area : 1,111m2 Development : 15 x 2 bedroom units (74m2) BD 07/14 Land Value : $2,170,000 ($144,666/unit) Factor Update : 1.300 BD 07/15 Land Value : $2,820,000 ($188,000/unit) Typical Single Dwelling Site – Enmore (South of Enmore Rd) (EGE) Dimensions : 6.10m x 30.48m Site Area : 185.93m2 BD 07/14 Land Value : $772,000 Factor Update : 1.280 BD 07/15 Land Value : $988,000 Typical Single Dwelling Site – Central Location (EGN) Dimensions : 6.10m x 32.16m/32.12m Site Area : 196m2 BD 07/14 Land Value : $470,000 Factor Update : 1.296 BD 07/15 Land Value : $609,000 Typical Single Dwelling Site – Dulwich Hill (Abergeldie Estate) (ELH) Dimensions : 12.19m x 34.75m/34.54m Site Area : 417.3m2 BD 07/14 Land Value : $748,000 Factor Update : 1.289 BD 07/15 Land Value : $964,000
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6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS. (Continued)
Typical Single Dwelling Site – Main Roads (Addison Rd) (EGN) Dimensions : 6.12 x 6.10m x 36.58m Site Area : 221.3m2 BD 07/14 Land Value : $436,000 Factor Update : 1.296 BD 07/15 Land Value : $565,000
Typical Single Dwelling Site – Main Roads (Edgeware Rd) (EGE) Dimensions : 6.25m x 30.51m Site Area : 189.7m2 BD 07/14 Land Value : $522,000 Factor Update : 1.280 BD 07/15 Land Value : $668,000 Typical Single Dwelling Site – Camperdown/Newtown (East of Kingston Rd) (EPL) Dimensions : 5.56/5.44m x 27.97/29.415m Site Area : 158.1m2 BD 07/14 Land Value : $583,000 Factor Update : 1.259 BD 07/15 Land Value : $734,000 Typical Home Unit Site – Stanmore (North of Stanmore Rd & South of Railway) (ETL) Dimensions : 6.10m x 35.66m Site Area : 215m2 BD 07/14 Land Value : $577,000 Factor Update : 1.279 BD 07/15 Land Value : $738,000 Typical Single Dwelling Site – Sydenham/Tempe (EST) Dimensions : 6.06/6.11m x 31.92/32.75m Site Area : 189.7m2 BD 07/14 Land Value : $407,000 Factor Update : 1.300 BD 07/15 Land Value : $529,000 Typical Single Dwelling Site – Petersham/Stanmore (North of Railway) (ETL) Dimensions : 6.10m x 36.58m Site Area : 223.14m2 BD 07/14 Land Value : $669,000 Factor Update : 1.280 BD 07/15 Land Value : $856,000
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Marrickville Final Report 2015
6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS. (Continued) Business
Typical Retail Property – King St, Newtown (North of Railway Line) (CBR) Dimensions : 6.24m/5.77m x 30.93m/29.30m Site Area : 174.4m2 BD 07/14 Land Value : $1,510,000 Rate per metre frontage: $241,987/m ftg ($8,658/m2) Factor Update : 1.450 (Handcrafted) BD 07/15 Land Value : $2,190,000 Rate per metre frontage: $350,961/m ftg ($12,558/m2)
Typical Retail Property – King St, Newtown (South of Railway Line) (CBR) Dimensions : 6.24m/6.26m x 29.25m/29.53m Site Area : 177m2 BD 07/14 Land Value : $850,000 Rate per metre frontage: $136,218/m ftg ($4,802/m2) Factor Update : 1.247 BD 07/15 Land Value : $1,060,000 Rate per metre frontage: $169,872/m ftg ($5,989/m2)
Typical Retail Property – Enmore Rd, Enmore (CFF) Dimensions : 6.10 x 36.42m Site Area : 222.16m2 BD 07/14 Land Value : $657,000 Rate per metre frontage: $107,705/m ftg ($2,957/m2) Factor Update : 1.221 BD 07/15 Land Value : $802,000 Rate per metre frontage: $131,475/m ftg ($3,610/m2)
Dimensions : 6.10 x 30.48m Site Area : 185.93m2 BD 07/14 Land Value : $665,000 Rate per metre frontage: $109,016/m ftg ($3,577/m Factor Update : 1.337 BD 07/15 Land Value : $889,000 Rate per metre frontage: $145,738/m ftg ($4,781/m2)
Typical Retail Property – Marrickville Rd, Dulwich Hill (CJR) Dimensions : 6.17m x 30.45m Site Area : 183.4m2 BD 07/14 Land Value : $468,000 Rate per metre frontage: $75,851/m ftg ($2,552/m2) Factor Update : 1.453 BD 07/15 Land Value : $680,000 Rate per metre frontage: $110,211/m ftg ($3,708/m2)
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Marrickville Final Report 2015
6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS. (Continued)
Industrial Typical Industrial Site – Marrickville (Small Sites to 1,000m) (DSS) Dimensions : 17.36/17.40m x 42.11/41.82m Site Area : 727.2m2 BD 07/14 Land Value : $809,000 Rate per square metre : $1,112/m2 Factor Update : 1.106DS BD 07/15 Land Value : $895,000 Rate per square metre : $1,231/m2 Typical Industrial Site – Marrickville (Average Sites 1,000m – 4,000m) (DAG) Dimensions : 54.16m/57.41m x 69.24m/64.61m Site Area : 3,617m2 BD 07/14 Land Value : $3,160,000 Rate per square metre : $874/m2 Factor Update : 1.054 BD 07/15 Land Value : $3,330,000 Rate per square metre : $921/m2 Typical Industrial Site – Marrickville (Large Sites over 4,000m) (DLG) Dimensions : 92.52/93.08m x 110.94 /110.94m Site Area : 1.028ha BD 07/14 Land Value : $5,770,000 Rate per square metre : $561/m2 Factor Update : 1.000 BD 07/15 Land Value : $6,410,000 Rate per square metre : $623/m2
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Marrickville Final Report 2015
6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS (Cont.)
District 206 - Marrickville LGA 2015
Base Date Land Value Totals at 31 Oct 2015
Zone & / or
Property Category
Total of 2012
LG LV's as at 31 Oct 15
Total of 2014
Prior LV's as at 31 Oct 15
Total of 2015
New LV's as at 31 Oct 15
2012 to 2015
Variation
2014 to 2015
Variation
% of Cat. to Total
District Value 2012
% of Cat. to
Total District Value 2014
% of Cat. to
Total District Value 2015
(the totals below include the 26 Oct 2015 Supplementary Import)
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Marrickville Final Report 2015
6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS (Cont.)
District 206 – Marrickville LGA 2015 Variation of Total Land Values within Zone / Category
Between 2012 to 2015 & 2014 to 2015
7.0 MARKET COMMENTARY:
A thorough investigation of all categories of property was undertaken for the 2014/2015 revaluation program to determine the state of the market. A cornerstone of this investigation involved the analysis of as many sales of vacant land, site values and improved sales as was necessary to determine the level of value as at the 1st July 2015 Base Date. Sales analysed by category: Residential 265 Commercial 99 Industrial 33
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Marrickville Final Report 2015
7.0 MARKET COMMENTARY: (Continued) Residential – Overall the residential market within the Marrickville Local Government Area as at Base Date 1/7/2015 tended to increase generally in line with surrounding areas of the Inner West of Sydney. Market transactions investigated suggest this movement was relatively uniform throughout all suburbs and areas, with some areas and property types performing better than others. For example parts of Marrickville North generally performed better than Marrickville South and Tempe performed slightly better than St. Peters. Large single residential sites Zoned R1 tended to perform the strongest, however small single residential sites continue to show a steady increase. Overall residential property registered an increase in value levels between the Base Date 1/7/2014 to Base Date 1/7/2015. Demand for high density and medium density unit sites remains high, with the residential unit market continuing to grow particularly in the Inner West. Rises in residential rentals mostly fuelled by housing affordability and abolishment of stamp duty exemption for first home buyer on purchases of existing homes from 1st January 2012 onwards is believed to be underpinning this demand. The continuing low interest rates is making borrowing cheaper however rising values in lessening affordability and increasing investors and fuelling development. There has been substantial sale evidences over the last few years, including sales of unit sites and un-strata unit blocks with potential of consolidation which have all contributed to the forming of this view. The major sales are as follows:
• *6-22 Grove St, Dulwich Hill Sold Sept 2013 $23,655,178 Area 10,089m • *7-15 McGill St, Lewisham Sold Feb 2014 $5,325,000 Area 1,035m • *2-8 Arthur St, Lewisham Sold May 2014 $6,050,000 Area 822m • *14 McGill St, Lewisham Sold July 2014 $7,000,000 Area 1,252m • 297-305 Trafalgar St, Petersham Sold Dec 2014 $13,800,000 Area 2,070m
* Properties which have a DA lodged for Mixed Use Development or construction of a residential flat building.
Commercial / Retail – Both the commercial and retail property markets within the Marrickville Local Government Area remained steady, with some areas and property types performing better than others. For Neighbourhood Centres, retail sites in Stanmore showed the strongest increase, this was supported by a number of sales in Percival Road. In general smaller retail sites across the LGA showed a steady increase. Retail sites in Local Centres tended to show a steady increase with retail sites around Marrickville shopping centre and Dulwich Hill showing strong increases, in particular sales along Illawarra Road and New Canterbury Road. Retail sites along Enmore Road, King Street and Parramatta all show a steady increases. In general it appears that many retail sites across the municipality of Marrickville are seeing an increase in the development of retail sites into mixed use developments. This is evident in particular along New Canterbury Road in both Petersham and Dulwich Hill where there have been sales which include other adjoining property and are purchased in one line by the same purchaser, possibly for mixed use development. Over the 2014/2015 reporting year there were more commercial, retail and office property transactions than the previous reporting year. There have been a number of commercial/retail sales in the Marrickville Area both under one million dollars and over one million dollars. Some of the major sales by zone include:
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Marrickville Final Report 2015
5.0 ADDED VALUE OF IMPROVEMENTS. (Continued)
Neighbourhood Centre
• 271 Wardell Rd, Marrickville Sold Dec 2014 $2,300,000 Area 284m • 276-278 Unwins Bridge Rd, Sold Sept 2014 $1,825,000 Area 309m
Sydenham • *264 Unwins Bridge Rd, Sold Dec 2014 $1,110,000 Area 164m
Sydenham Local Centre
• *111-115 New Canterbury Rd, Combined site Sold Aug 2014 Area 633m Petersham $2,850,000
• 374 -376 New Canterbury Rd, Combined site Aug 2014 Area 525m Dulwich Hill $2,570,000
• 8 Enmore Rd, Newtown Sold Aug 2014 $3,165,000 Area 215m • *43 Enmore Rd, Newtown Sold Sept 2014 $2,398,000 Area 272m • *113 Parramatta Rd, Camperdown Sold Oct 2014 $4,006,000 Area 670m • 249 King St, Newtown Sold Oct 2014 $4,125,000 Area 174m • 286 Marrickville Rd, Marrickville Sold Nov 2014 $2,830,000 Area 172m • 187 Parramatta Rd, Camperdown Sold Nov 2014 $13,300,000 Area 424m • 305 King St, Newtown Sold Dec 2014 $2,640,000 Area 272m • 249 Marrickville Rd, Marrickville Sold Dec 2014 $2,400,000 Area 196m • *31 New Canterbury Rd, Petersham Sold Dec 2014 $7,500,000 Area 1,056m
Sold March 2015 $4,600,000 • 825 New Canterbury Rd, Sold May 2015 $1,000,000 Area 210m
Dulwich Hill • 827 New Canterbury Rd, Sold May 2015 $1,000,000 Area 211m
Dulwich Hill • *801-807 New Canterbury Rd, Combined site Sold June 2015 Area3,048m
Dulwich Hill for $11,200,000
Mixed Use
• 4 McGill St, Lewisham Sold Aug 2014 $2,300,000 Area 424m • *102-106 Old Canterbury Rd, Combined site Sold Sept 2014 Area 1,857m
1 & 5 McGill St, Lewisham $9,100,000 • 124 Crystal St, Petersham Sold March 2015 for $2,350,000 Area 512m • *801-807 New Canterbury Rd, Combined site Sold June 2015 Area 3,048m
Dulwich Hill $11,200,000 • 78-80 New Canterbury Rd, Combined site Sold July 2015 Area 375m
Petersham $2,920,000 Business Development Site
• *1 Albany Rd, Stanmore Sold April 2015 $3,850,000 Area 759m
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• 816 Princes Hwy, Tempe Sold Nov 2014 $1,600,000 Area 665m • 67 Campbell St, St Peters Sold Nov 2014 $1,716,000 Area 367m • *63 Princes Hwy, St Peters Sold Nov 2014 $1,960,000 Area 746m • *750 Princes Hwy, Tempe Sold Dec 2015 $21,550,000 Area 2.04 H • 129 Princes Hwy, St Peters Sold April 2015 $5,000,000 Area 4,181m
*Properties which have a DA lodged for Mixed Use Development or construction of a residential flat building.
Industrial – The industrial property market within the Marrickville Local Government Area continues to experience low level of activities with the smaller industrial sites under 1,000m2 showing the greatest increases. The owner occupiers remained the most active purchaser on the market particularly on smaller sites. There have been a number of Industrial sales in the Marrickville Local Government over the past reporting year, both under one million dollars and over one million dollars. The major sales included: General Industrial
• 18 Edinburgh Rd, Marrickville Sold Nov 2014 $2,400,000 Area 892m • 3 Hogan St, Marrickville Sold Dec 2014 $2,600,000 Area 835m • 24-28 Smith St, Marrickville Sold March 2015 $2,200,000 Area 803m • 12 Gerald St, Marrickville Sold March 2015 $2,300,000 Area 424m • 76 Edinburgh Rd, Marrickville Sold May 2015 $6,352,000 Area 9,756m • 27 Cadogan St, Marrickville Sold June 2015 $5,236,000 Area 1,745m
Light Industrial
• 1 Gerald St, Marrickville Sold Aug 2014 $1,250,000 Area 490m • 25 Carrington Rd, Marrickville Sold Sept 2014 $1,575,000 Area 362m • 376 Princes Hwy, St. Peters Sold Feb 2015 $1,292,500 Area 333m • 372 Princes Hwy, St. Peters Sold Feb 2015 $1,000,000 Area 308m • 380 Princess Hwy, St. Peters Sold June 2015 $2,828,000 Area 877m • 3 Carrington Rd, Marrickville Sold July 2015 $4,000,000 Area 1,820m • Longport St, Lewisham Sold June 2014 $35,000,000 Area 3,086m
*Out of Line Sale – sold with other adjoining property. Sold in one line with property on the boundary of adjoining LGA (Ashfiled) as part of a large redevelopment into residential mixed use development.
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Marrickville Final Report 2015
7.0 MARKET COMMENTARY: (Continued) Sale and Resales with Marrickville LGA between 2014-2015 16 Calvert St, Marrickville Sold 22/02/2014 $910,000 Resold 03/09/2014 $1,115,000 = 22.5% or 0.17% / month 26 Douglas St, Stanmore Sold 15/04/2014 $750,000 Resold 26/07/2014 $995,000 = 32.6% or 0.44% / month
266 Enmore Rd, Marrickville Sold 21/02/14 $1,225,000 Resold 22/04/15 $1,420,000 Shows 15.9% increase 32 Ferndale St, Newtown Sold 30/05/14 $822,000 Resold 17/04/15 $1,550,000 Shows 88.6% increase 72 Hercules St, Dulwich Hill Sold 02/05/14 $4,320,000 Resold 24/10/14 $5,300,000 Shows 22.7% increase 24 London St, Enmore Sold 01/03/14 $780,000 Resold 23/08/14 $1,105,000 Shows 41.7% increase 42 Macaulay Rd, Stanmore Sold 01/03/14 $1,200,000 Resold 02/05/15 $1,675,000 Shows 39.6% increase 32 Marmion St, Camperdown Sold 20/06/14 $970,000 Resold 14/03/15 $1,120,000 Shows 15.5% increase 244 New Canterbury Rd, Lewisham Sold 03/02/14 $950,000 Resold 20/12/14 $1,068,500 Shows 12.5% increase 41 Northumberland Ave, Stanmore Sold 14/03/14 $912,000 Resold 27/06/15 $1,325,000 Shows 45.3% increase 79 Old Canterbury Rd, Lewisham Sold 21/07/14 $950,000 Resold 30/05/15 $1,375,000 Shows 44.7% increase 16 Terry St, Tempe Sold 02/08/14 $730,000 Resold 02/06/15 $1,030,000 Shows 41.1% increase 104C Wells St, Newtown Sold 27/10/14 $925,000 Resold 03/05/15 $1,317,500 Shows 42.4% increase
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Marrickville Final Report 2015
7.0 MARKET COMMENTARY: (Continued) These results indicate the change in the market over a 12-24 month period but does not reflect if this change was uniform or not over this time. This result indicates a general trend upwards in the residential market as reflected by these thirteen (13) improved sales. The market consensus as to the movement in the residential market is fairly uniform for residential property. Our own sales analysis supported by broader statistics has revealed that the residential market over the 12 month reporting year has increased overall to base date 1/7/2015. Incremental market changes over the period by monthly intervals is harder to interpret from the evidence, other than to infer generally, that in the early part of the reporting year increases were lower than the 2nd half of the year when falls in official interest rates increased the level of growth.
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Marrickville Final Report 2015
8.0 LOCAL GOVERNMENT VALUATION MARKET INFORMATION:
The previous Local Government Valuation Base Date was for Base Date 1st July 2012. The demand for high density units and medium density sites and the finished product itself continues to be strong. Rises in residential rentals, mostly fuelled by housing affordability and the abolishment of stamp duty exemption for first home buyer on purchases of existing homes from 1st January 2012 onwards; is believed to be underpinning this demand. The continuing low interest rates have been a key driver for both the local and overseas investor-led demand for inner city apartments and single residential dwelling. It appears developers remain positive about long term prospects with the continuing high level of buyer demand for new stock in the unit market. There have been a number of significant developments and proposed developments in the Marrickville LGA from Base Date 1st July 2012 which include:
• Most recently the proposed redevelopment of the old Marrickville Hospital site which borders Marrickville Rd, Livingstone Rd and Lilydale St, Marrickville. Marrickville Council recently signed a contract to deliver a new library, park and a residential development with affordable housing after twenty years of deliberation. Mirvac formally approved the negotiations with Marrickville Council in October 2015 to develop the old Marrickville Hospital site. The development will include approximately 220 new apartments across three buildings, with a minimum of four per cent earmarked for affordable housing, equating to eight to twelve units. The development of the site will protect the significant heritage buildings – the Old Marrickville Hospital site and Nurses Quarters – which will be retrofitted as the new library and community hub.
• The extension of the light rail network from Lilyfield to Dulwich Hill. The 5.6km of light rail extension to the Inner West runs from the current light rail terminus at Lilyfield along the disused freight corridor to Dulwich Hill.
• The land around Lewisham along Old Canterbury Road, between Longport and McGill
continues to be developed with more developments being submitted to Marrickville Council over the last reporting year.
• The WestConnex Project - In November 2014 the NSW Government announced the New
M5 St Peters Interchange would be mainly built on the site of the former Alexandria landfill. WestConnex Delivery Authority took ownership of the landfill in December 2014. Clean-up work at the Alexandria Landfill is now underway.
The main sales of interest that have occurred since the last Local Government Base Date are: High Density Residential:
• *2-8 Arthur St, Marrickville Sold May 2014 $6,050,000 822m • 297-305 Trafalgar St, Petersham Sold Dec 2014 $13,800,000 2,070m • *120 Old Canterbury Rd, Sold April 2015 $7,660,000 2,353m
Lewisham
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8.0 LOCAL GOVERNMENT VALUATION MARKET INFORMATION: (Continued) Commercial/Retail:
• 395 Marrickville Rd, Marrickville Sold April 2013 $2,260,500 664m • *250 Wardell Rd, Marrickville Sold Aug 2013 $2,250,000 588m • *112 New Canterbury Rd, Sold Aug 2013 $ 800,000 161m
Petersham • *114 New Canterbury Rd, Sold Aug 2013 $2,850,000 487m
Petersham • *2-4 Dudley St, Marrickville Sold Dec 2013 $2,570,000 518m • *102-104 New Canterbury, Sold April 2014 $2,870,000 489m
Petersham • *254-258 Wardell Rd, Marrickville Sold April 2014 $3,500,000 1043m • *110 Addison Rd, Marrickville Sold May 2014 $4,500,000 1,486m • 105 Percival Rd, Stanmore Sold May 2014 $3,100,000 480m • *27 Railway Tce, Lewisham Sold June 2014 $1,500,000 360m • *29 Railway Tce, Lewisham Sold Dec 2011 $1,400,000 589m • *111-115 New Canterbury, Sold Aug 2014 $2,850,000 633m
Petersham • 276 Unwins Bridge Rd, Sydenham Sold Sept 2014 $825,000 155m • 278 Unwins Bridge Rd, Sydenham Sold Sept 2014 $1,000,000 154m • 271 Wardell Rd, Marrickville Sold Dec 2014 $2,300,000 284m • 85 Wardell Rd, Dulwich Hill Sold Sept 2015 $2,000,000 544m
Light Industrial:
• 73 Mary St, St Peters Sold Sept 2013 $12,100,000 Area 1.333H • 407 Princess Hwy, Sydenham Sold Nov 2013 $2,450,000 Area 1,891m • 72 Addison Rd, Marrickville Sold April 2014 $3,141,000 Area 1,549m • Longport St, Lewisham Sold June 2014 $35,000,000 Area 3,086m
*Out of Line Sale – sold with other adjoining property. Sold in one line with property on the boundary of adjoining LGA (Ashfiled) as part of a large redevelopment into residential mixed use development
• 380 Princes Hwy, St Peters Sold June 2015 $2,828,000 Area 1,891m • 3 Carrington Rd, Marrickville Sold July 2015 $4,000,000 Area 1,820m
General Industrial:
• 13 Barclay St, Marrickville Sold Nov 2012 $3,190,000 Area 1,682m • 24-28 Smith St, Marrickville Sold March 2013 $2,200,000 Area 803m • 54 Fitzroy St, Marrickville Sold April 2013 $2,200,000 Area 1,346m • 580 Princes Hwy, St Peters Sold Aug 2013 $3,975,000 Area 1,828m • 42 Sydney St, Marrickville Sold Aug 2013 $2,100,000 Area 1,037m • 21 Burrows Rd, St Peters Sold April 2014 $2,950,000 Area 1,505m • 55 Marrickville Rd, Marrickville Sold May 2014 $3,300,000 Area 1,908m • 2 Talbot St, St Peters Sold July 2014 $2,150,000 Area 714m • 598 Princes Hwy, St Peters Sold July 2014 $2,150,000 Area 955m
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8.0 LOCAL GOVERNMENT VALUATION MARKET INFORMATION: (Continued)
• 18 Edinburgh Rd, Marrickville Sold Nov 2014 $2,400,000 Area 892m • 3 Hogan Ave, Sydenham Sold Dec 2014 $2,600,000 Area 835m • 12 Gerald St, Marrickville Sold March 2015 $2,300,000 Area 424m • 76 Edinburgh Rd, Marrickville Sold May 2015 $6,352,000 Area 9,756m • 27 Cadogan St, Marrickville Sold June 2015 $5,236,000 Area 1,745m
*Properties which have a DA lodged for Mixed Use Development or construction of a residential flat building.
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Residential: Overall the residential market within the Marrickville Local Government Area over the past three years from base date 01/07/2012 to 01/07/2015 has shown a strong increase across most components, however some components have performed better than others. Single residential sites in Petersham, Lewisham and Dulwich Hill showed the highest increase of 76.6%, closely followed by Marrickville – north of the railway line which showed an increase of 74.3% and Tempe 71.9%. In comparison the components which showed the lease amount of growth were Marrickville – south of the railway line which showed an increase of 58.7% and Camperdown/Newtown - east of Kinston Road 57.3%. All other single residential components tended to move within a band of 67 to 70%. Commercial/Retail: The commercial and retail markets within the Marrickville Local Government Area over the past three years from Bas Date 01/07/2012 to 01/07/2015 showed a varied increase across all components. The components which showed the greatest increases were Retail sites with a frontage over 12m, Mixed Use sites and Business Development sites – moving in a band of 130 to 145%. Retail sites in Petersham, Dulwich Hill and Mixed Development sites across all locations also showed strong increase, moving in a band of 95 to 110%. Retail sites in Stanmore, Newtown, Enmore and Marrickville Road tended to move within a band of 52 to 63%. In general all sites along Parramatta Road tended to move in a band of 52 to 59%. Overall commercial and retail components all showed strong increases over the past three years from Base Date 01/07/2012 to 01/07/2015. Industrial: The Industrial markets within the Marrickville Local Government Area over the past three years from Base Date 01/07/2012 to 01/07/2015 has remained relative flat in line with other inner city/inner west industrial properties. Industrial components tended to move within a band of 5 to 33%. General Industrial 1,000 to over 4,000m showed the lowest increases, whilst General and Light Industrial under 1,000m showed the higher increases of 20.3% and 32.1% respectively. The residential market continues to grow particularly in the Inner West unit markets. It appears developers remain positive about long term prospects with the continuing high level of buyer demand for new stock. Low interest rates have been a key driver for both the local and overseas investor-led demand for inner city apartments.
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Marrickville Final Report 2015
8.2 VERIFICATION:
Verification and Handcrafting in the Marrickville LGA since the last Local Government Base Date 01/07/2012 included, but was not limited to:
• Residential Components: o EDG, EMG, ELG, EGP, EGN, EGS, EHH, EDO – the majority of properties
within these components were verified. o ELL (37%), EDM (27%), EMM (35%), EDS (48%), EDA (22%) – several
properties within these components were verified.
• Business Components: o CGG, CNR, CNL, CNS, CAA, CBR, CJR, CXX, CVM, CAM, CVP – the
majority of properties within these components were verified. o CCC (28%), CFF (25%), CHH (42%), CVO (49%), CYY (51%), CCM (39%),
CMP (38%), CBP (43%) – several properties within these components were verified.
• Industrial Components:
o DAG, DMF, DSS – the majority of properties within these components were verified.
o DLG (30%), DAA (20%), DLL (20%) – several properties within these
components were verified.
• All other Components: o KSA, WNW – all properties within these components were verified. o KCC (29%), KUC (20%), SJK (62%) – several properties within these
components were verified.
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Marrickville Final Report 2015
9.0 MANAGEMENT OF COMPONENTS, HANDCRAFTING & VERIFICATION
Sales analysis undertaken for the 2015 revaluation program revealed several anomalies in value levels that mass valuation techniques alone could not rectify. Handcrafting, of either individual property or by the use of secondary factors was required to realign several components or part components. Verification and Handcrafting in the Marrickville LGA for the 2015 program included but was not limited to:
• All residential zones – All sites within this zone were verified or regraded in this year’s
program to available sales evidence. • All business zones – All sites within this zone were verified or regraded in this year’s
program to available sales evidence.
• All industrial zones – All sites within this zone were verified or regraded in this year’s program to available sales evidence.
• All open space zones – All sites within this zone were verified or regraded in this year’s
program to available sales evidence. • All special uses zones – All sites within this zone were verified or regraded in this year’s
program to available sales evidence. • All reserved roads zones – All sites within this zone were verified or regraded in this
year’s program to available sales evidence. • All other terrace sites in other residential components were verified or regraded in line
with available sales evidence.
• Selective handcrafting was undertaken of strategically positioned residential sites in line with available market sales evidence.
• All smaller sites in most business and industrial components were regraded in line with available market evidence.
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Marrickville Final Report 2015
9.0 MANAGEMENT OF COMPONENTS, HANDCRAFTING & VERIFICATION: (Continued)
Verification Program
• Investigate all property within Residential Component ED, ‘Density Sites – All Localities’
to establish the type of development present, i.e. Medium Density, Density and High Density is present and determine under what basis the site has been valued.
• Investigate the worthiness and suitability of some smaller components and amalgamate some of these superfluous components with other existing ones.
• Verification of some Residential Components following consultation with Contract Manager.
10.0 QUALITY ASSURANCE
In accordance with Southern Alliance Valuation Services Pty Ltd own internal QA manual and the Office of the Valuer General Guidelines, the following quality checks have been made in the delivery of this program:
• Ensuring all properties has been valued. • Ensuring the valuations is within the set parameters. • That a zone/component code integrity check has been made. • An in depth value check on those properties that have considerably higher values in
relation to the average for land. • Ensure that current and proposed Development Control Plans and planning changes that
affect the valuations have been taken into account. • Where the land value of a property has been amended on objection, the alignment of
values with nearby properties has been checked. • That all Statutory concession valuations and allowances have been supplied, including:
Allowances for development on and off the land. Heritage Values. Land Rating Factors. Apportionment of Values. Mixed Development Apportionment Factors.
The following statistical checks have been carried out for residential zoned properties. Coefficient of Dispersion (COD)
This measures the relative consistency and, when viewed with the other measures, the relative accuracy of values in relation to the sales. It shows the amount of variation or the consistency of the values and also the relative accuracy of the values as the relationship between values and sales widens.
The accepted measure for the COD is 0 – 15.
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Marrickville Final Report 2015
10.0 QUALITY ASSURANCE: (Continued) Mean Value to Price Ratio (MVP)
This calculates the mean relative accuracy, or level of values, relative to the sales. It shows the mean level of accuracy of the values assigned compared to the sales evidence. The MVP is to be calculated only in single dwelling residential categories, including rural home site areas.
The accepted measure for the MVP is 85-100%. Price Related Differential (PRD)
This test measures the progressive value to sale relativity across the range of values in the sample. It demonstrates the variations of relativity between the sales and the assigned values and indicates if there is a progressive change in relativity across the value range.
The accepted measure for the PRD is 0.98 – 1.03.
The results, from all sales analysed and classified as market data sales are appended to this report:
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Purpose of this Report
The purpose of this report is to describe the process and considerations for the 1st July 2015 General Valuation of Marrickville Local Government Area. The report has been produced on behalf of the Valuer General.
The land values have been specifically made for rating and taxing purposes. Land values produced as part of this process should not be used for any other purpose without the specific agreement of the Valuer General.
Land values must have regard to specific requirements and assumptions in rating and taxing legislation. Consequently these valuations may vary from market levels.
The land values were made using a mass valuation process that involves assessing large numbers of properties as a group. While valuations have been prepared with all due care, mass valuations are, by their nature, likely to be less accurate than individually assessed valuations.
Town planning, land use and other market information contained in this report have been compiled based on enquiries undertaken during the valuation process. Third parties should make their own inquiries into these details and should not rely on the contents of this report.
The Valuer General disclaims any liability to any person who acts or omits to act on the basis of the information contained in this report.
More information on the valuation process is available from the Department of Lands website at www.lands.nsw.gov.au
George Veris Burwood Area Manager Southern Alliance Valuation Services Pty Ltd
The following graphs show the component variation of total land values within each zone from the analysed sales evidence available at the commencement and during the program.
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District 206 – Marrickville LGA 2015 Component Variation of Total Land Values – Single Residential
Between 2012 to 2015 & 2014 to 2015
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Marrickville Final Report 2015
District 206 – Marrickville LGA 2015
Component Variation of Total Land Values – Single Residential Between 2012 to 2015 & 2014 to 2015
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Marrickville Final Report 2015
District 206 – Marrickville LGA 2015
Component Variation of Total Land Values – Business Between 2012 to 2015 & 2014 to 2015
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Marrickville Final Report 2015
District 206 – Marrickville LGA 2015 Component Variation of Total Land Values – Industrial
Between 2012 to 2015 & 2014 to 2015
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Marrickville Final Report 2015
District 206 – Marrickville LGA 2015 Component Variation of Total Land Values – Miscellaneous
Between 2012 to 2015 & 2014 to 2015
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Marrickville Final Report 2015
ANNEXURE: ‘A’ MARRICKVILLE DA REGISTER 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish existing improvements and erect a 5 storey mixed use development over basement car park mixed use development containing a ground floor commercial tenancy and 22 dwellings with off street parking for 18 vehicles.
Sold 21/10/2014 $4,006,000
1948825 B1 2 Dudley St, Marrickville
DA2014/00252 29/05/2014 Refused 25/11/2014
Demolish existing improvements and erect a 7 storey mixed use development over basement car parking containing a ground floor commercial tenanciy and 30 dwellings. SOLD 09/12/13
$2,570,000
CA2014/00009 10/12/2014 Pending Court Decision
Class 1 Appeal in Land and Environment Court - to demolish existing improvements and erect a 7 storey mixed use development over a basement car park containing a ground floor commercial tenancy and 30 dwellings
3491704 1960233 B2
112 - 114 New Canterbury Rd,
Petersham DA2014/00416 4/04/2014 Approved
10/12/2014
Consolidate the land, demolish part of premises, excavation of part of site, carry out alterations and additions to the premises at 114 New Canterbury Rd including ground floor alterations to commercial tenancy, alterations to convert 2st floor level into 3 dwellings and the addition of a 2nd floor containing 2 dwellings; construction of a 2 to 6 storey addition behind the retail facade of 112 New Canterbury Rd containing 3 car spaces on lower level and a commercial tenancy fronting Livingston Rd, 1st floor level containing 5 dwellings with the remaining levels containing a combined total of 8 dwellings.
112 Sold 28/08/2013 $800,000
114 Sold 12/11/2013 $2,850,000
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PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
1960961 B2 111 New Canterbury Rd, Petersham DA2014/00127 26/03/2014 Approved
18/12/2014
Demolish existing improvements and construct 5 storey above ground level mixed use development containing 2 ground floor commercial suites and 18 dwellings (2xstudio, 10x1 bedroom and 6x2 bedroom dwellings) with basement car parking levels.
Sold 13/05/2009 $1,300,000
1957837 R4 120B Old Canterbury Rd, Lewisham DA2012/00442 19/10/2012 Approved
13/02/2012
Demolish existing improvements on 120B Canterbury Rd & 20 McGill St & construct a 6 storey mixed uses development of 21 commercial units and 47 dwellings over basement parking for 84 vehicles. Approved 13/2/2013.
Sold 03/04/2013
1961648 B5 118 Old Canterbury Rd, Lewisham
DA2013/00170 24/04/2013 Approved 06/06/2014
Erect a 5 storey mixed use development above basement car parking w/roof top terraces, containing commercial tenancies on the ground and 1st, 2nd, 3rd, 4th storeys containing 7 dwellings w/off street parking for 37 vehicles.
Not sold but hand crafted
DA201300170.02 31/03/2015
under Section 96 of the Environmental Planning and Assessment Act to modify Modified Determination No. 201300170 dated 6 June 2014 to reconfigure the rooftop communal areas and the additions of 1 x 3 bedroom dwelling and 1 x 2 bedroom dwelling on level 5/rooftop level
To demolish existing improvements (including the dwelling house at 7 McGill Street) and construct a 5 storey mixed use development containing 3 commercial tenancies, 54 dwellings and a basement car parking level at 1-3 and 5 McGill Street and 102-106 Old Canterbury Road Lewisham
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PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish existing improvements and construct a 6 storey residential flat building fronting McGill st & a 5 storey mixed use development fronting Old Canterbury Road over 2 levels of basement parking - containing 2 ground floor commercial tenancies & 39 dwellings.
Sold 12/12/2013 $1,100,000
1962642 B5 39 Phillip St, Newtown
DA2014/00388 8/08/2014 Deemed Refusal Demolish the premises and construct a 4 storey mixed use development with ground floor business premises and 14 dwellings above, including car parking for 11 vehicles.
Sold 13/06/2014 $1,855,000
CA2014/00006 14/10/2014 Pending Court Decision
Class 1 Appeal in Land and Environment Court - to demolish the premises and construct a 4 storey mixed use development comprising ground floor business premises and 14 dwellings above, including car parking for 11 vehicles
Consent 20/02/2015 Construct a 2 storey warehouse facility with 3 warehouse tenancies
Sold 18/09/2013 $530,000
1960749 B2 429 New Canterbury Rd, Dulwich Hill DA2014/00477 22/09/2014 Pending
Partially demolish the premises and construct a mixed use development containing ground floor commercial tenancies, 71 dwellings with basement car parking levels
3405606 R2 40 Old Canterbury Rd, Lewisham DA2014/00525 21/10/2014 Refused 28/04/2015 Construct a 2 storey childcare centre for 29 children with 3
Demolish part of the premises and carry out alterations and additions to the existing mixed use development to include ground floor level carparking and 2 additional dwellings and strata subdivide the premises.
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PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
1941562 B4 110 Addison Rd, Marrickville
DA2014/00496 3/10/2014 Refused Demolish existing buildings, construct a 4 storey mixed use development w/ground floor commercial tenancies, 38 dwellings on the upper floors over basement parking
Sold 06/05/2014 $4,500,000
CA201500012 3/06/2015 Pending Court Decision
Demolish existing buildings and construct a 4 storey mixed use development w/3 commercial tenancies, associated parking on the ground floor, 33 dwellings on the upper floors with basement car parking
Demolish improvements at 407 Illawarra Road and erect a 5 storey mixed use development with the fourth and fifth stories extending over the building at 409 Illawarra Road, containing a restaurant and shop on the ground floor with dwellings on the upper floors
1961616 R2 10 Old Canterbury Rd, Lewisham DA2014/00505 9/10/2014
19/02/2015 Deferred Commencement
Consent
Demolish existing improvements, subdivide the land into 3 Torrens title allotments and construct a 2 storey with attic level dwelling house on each allotment
Sold 08/05/2015 $2,000,000
3812565 R1 23-29 Barwon Park Rd, St Peters DA2014/00509 10/10/2014 Pending
Demolish part of the premises and construct a residential flat building containing 14 dwellings and associated car parking and strata subdivide the premises
Demolish existing improvements and construct a 4 storey residential flat building over basement car parking level containing 11 dwellings and strata subdivide the premises into 11 allotments
Carry out alterations and additions to the existing boarding house to construct a 5 storey addition to the rear containing 15 additional boarding rooms
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PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Subdivide the land into 2 Torrens title allotments and carry out alterations and additions to the existing dwelling house to convert into a 3 storey dwelling house on each allotment
Sold 17/04/2014 $905,000
1957456 R2 9 Lord St, Newtown
DA2014/00560 5/11/2014 Refused 27/03/2015 Subdivide the land into 2 Torrens title allotments (Lot A and Lot B), retention of the front portion of the existing 2 storey warehouse and ground floor retail tenancy, demolition to the rear of the warehouse and the construction of a rear 3 storey addition comprising of 5 dwellings on Lot A and the construction of a free standing dwelling with Lot B with associated landscaping and strata subdivision
Demolish existing improvements and construct a mixed used development ranging in height between 5 and 7 storeys comprising of 3 ground floor commercial tenancies, 94 dwellings and 2 basement car parking levels
Sold 15/11/2014 $1,960,000
1960661 B2 727 New Canterbury Rd, Dulwich Hill DA2014/00588 19/11/2014 Pending
Demolish existing improvements and construct a 4 storey mixed used development comprising of 1 commercial tenancy on the ground floor and 5 dwellings (2 x 1 bedroom dwellings & 3 x 1 bedroom plus study dwellings) on the upper floor with associated parking and storage areas
Demolish existing improvements, subdivide the land into 2 Torrens title allotments and construct a 2 storey dwelling house with a double garage on each allotment
Sold 09/09/2014 $1,220,000
1943408 R2 13 Barnsbury Grove, Dulwich Hill DA2014/00558 4/11/2014 Pending
Demolish existing improvements, subdivide the land into 2 Torrens title allotments and construct a 2 storey dwelling house with a detached rumpus room on each allotment
Demolish the existing improvements, subdivide the land into 2 Torrens title allotments and construct a 2 storey with attic dwelling house on each allotment
2984028 RE1 531-565 Illawarra Rd, Marrickville DA2014/00646 8/12/2014 Pending Construct a child care centre with 60 children, 17 staff
members, 14 car spaces
1948825 B1 2 Dudley St, Marrickville
DA2014/00252 29/05/2014 Refused 25/11/2014 Demolish existing improvements and erect a 7 storey mixed use development over a basement car park containing a ground floor commercial tenancy and 30 dwellings
Sold 09/12/2013 $2,570,000 CA2014/00009 10/12/2014 Pending Court
Decision
1971123 R4 8 William St, Lewisham DA2014/00666 15/12/2014 Pending
Demolish existing improvements and construct a 5 storey residential flat building with 7 dwellings and strata subdivision
Demolish part of the premises and carry out alterations and additions to create a residential flat building containing 11 dwellings with 8 car spaces
Sold 28/07/2014 $2,650,000
1970814 R4 1 West St, Petersham DA2014/00678 19/12/2014 Active Consent
05/09/2015
Demolish the existing improvements and construct a 4 part 5 storey residential flat building containing 41 dwellings over 3 basement levels of car parking containing a total of 41 car parking spaces with shared access to the basement level of the development on the adjoining property at No. 96-98 Brighton Street, Petersham
1943428 R1 39 Barwon Park Rd, St Peters DA201400695 30/12/2014 Pending
Demolish existing improvements and construct a 4 storey residential flat building containing 9 dwellings and basement carpark for 9 vehicles
Sold 14/08/2014 $1,580,000
3152363 R2 85 Silver St, St Peters DA201500049 16/02/2015 Pending
Demolish existing improvements, consolidation of existing allotments; Torrens title subdivision of the property into 4 allotments and construction of a 2 storey dwelling house on each allotment with a stratum basement level.
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 70 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish the existing improvements and the erect a 6 storey mixed use development with 2 ground floor commercial/retail tenancies and 16 dwellings with 2 basement car parking levels and strata subdivision
Demolish the existing improvements, subdivision of land into 3 Torrens Title allotments, construction of 2 storey attached dwellings on each allotment with detached garages
1945062 1947411 R1
23 Campbell St, St Peters and
44 Crown St, St Peters
DA201500034 6/02/2015
Consolidate 23 Campbell Street and 40-44 Crown Street into 1 allotment, carry out alterations and additions to convert the existing dwelling house on 23 Campbell Street into 2 dwellings and strata subdivide the dwellings in conjunction with the multi-dwelling housing development at 40-44 Crown Street
1960606 B2 801 New Canterbury Rd, Dulwich Hill DA201500081 3/03/2015 28/10/2015
Active Consent
Demolish existing improvements and construct a 5 storey development consisting of a residential flat building (Building A) containing 44 dwellings and a mixed use building (Building B) containing 3 retail tenancies and 38 dwellings with 2 levels of basement car parking
Demolish existing improvements and construct a 4 storey mixed use development containing 1 commercial tenancy on the ground floor and 5 dwellings on the upper floors with associated car parking
Sold 30/09/2014 $2,390,000
1942144 R2 23 Alfred St, St Peters DA201500085 6/03/2015
Deferred Commencement
Consent 02/09/2015
Demolish the existing improvements, Torrens title subdivision of land into 5 allotments and construct a 2 storey dwelling house on each allotment with associated car parking
Sold 30/09/2014 $2,398,000
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 71 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Remove existing hardstand areas, subdivide the land into 2 Torrens title allotments and construct a 5 storey building (Building A) on allotment 1 containing a high technology space, a food and drink premises and manager’s dwelling with basement car parking and construct a 4 storey building (Building B) and 2 storey building (Building C) on allotment 2 containing a total of 57 industrial units with associated car parking
Sold 06/05/2015 $6,352,000
1958652 B2 449 Marrickville Rd, Dulwich Hill DA201500106 19/03/2015 Pending
Demolish the existing premises with the exception of the Marrickville Road façade and erect a 4 storey shop top housing development containing 1 shop and 6 dwellings with 2 car parking spaces
Sold 22/09/2015 $1,320,000
1946892 B4 62 Constitution Rd, Dulwich Hill DA201500129 27/03/2015 Refused
Demolish the existing building and erect a 9 storey shop top housing development containing 1 shop and 22 dwellings with 3 levels of basement parking providing 11 on site car parking spaces
Sold 09/05/2014 $1,515,000
1970118 B1 85 Wardell Rd, Dulwich Hill DA201500130 27/03/2015 Refused
Demolish part of the premises and carry out ground and first floor alterations and additions to the existing building to create a 14 room boarding house including a managers residence with associated car parking
Sold 18/09/2015 $2,00,000
1942114 R2 23 Alfred St, St Peters DA201500085 6/03/2015
Demolish the existing improvements, Torrens title subdivision of land into 5 allotments and construct a 2 storey dwelling house on each allotment with associated car parking
Sold 01/05/2015 $2,750,000
3793626 R2 11-13 Fotheringham Lane, Marrickville DA201500133 30/03/2015 Subdivide the property into 7 lots and erect a 3 storey
dwelling house on each lot
3813822 R1 9-11 Barwon Park Road, St Peters DA201500131 27/03/2015
Torrens title subdivide the property into 3 lots with each lot containing a dwelling approved under Land and Environment Court Order No 10351 of 2013
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 72 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish existing improvements and construct a 6 storey mixed use development with ground floor commercial/retail tenancy and 22 dwellings on upper floors with 3 levels of basement car parking and strata sub-division.
Demolish existing improvements and sub-divide into 2 allotments and construct and fit out a Masters Home Improvement Store including car parking and landscaping on Lot 1 and construct 10 industrial units, car parking and landscaping on Lot 2
Demolish existing improvements and construct a 6 storey mixed use development with a ground floor commercial/retail tenancy and 15 dwellings on the upper floors with basement car parking
Demolish part of the premises and construct a 5 storey addition at the rear containing ground floor parking with 2 tandem parking spaces and 3 dwellings on the upper floors
1960683 R4 589 New
Canterbury Rd, Dulwich Hill
DA201500201 30/04/2015 Pending Demolish the existing improvements and construct a 5 storey residential flat building with 18 dwellings over a basement car parking level and strata subdivision
1941886 B5 1-7 Albany Rd, Stanmore
DA201500269 27/05/2015 Refused Demolish existing improvements and construct a 3 part 4 storey long day care centre for 135 children aged from birth up to 6 years
Sold 08/04/2015 $3,850,000 CA201500015 27/07/2015 Pending Court
Decision
19660898 R2 33 South St, Marrickville DA201500202 1/05/2015 Withdrawn
Demolish part of the premises and carry out ground floor alterations and additions to convert the existing shed and garage into a 2 bedroom secondary dwelling and garage
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 73 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish the existing garage and part of the premises, carry out ground floor alterations and additions to a dwelling house, erect a single storey detached secondary dwelling and to consolidate two allotments.
Sold 17/12/2013 $850,000
1957836 R4 14 McGill St, Lewisham
DA201500205 1/05/2015 Refused Demolish existing improvements and construct an 8 storey plus mezzanine level residential flat building containing 63 dwellings with 4 basement car parking levels and strata subdivision
Sold 25/07/2015 $7,000,000 CA201500016 29/09/2015 Pending Court
Carry out Torrens title subdivision of land into 2 allotments and carry out alterations and additions to the existing dwelling to convert into a 2 storey dwelling on each allotment
Demolish existing improvements, carry out a Torrens title subdivision into 2 allotments and construct a 2 part 3 storey attached principal dwelling and secondary dwelling on each allotment
Sold 14/06/2014 $1,117,000
1942554
R4
2 Arthur St, Marrickville
DA201500242 18/05/2015 Pending
Demolish existing improvements, consolidation of land into 1 allotment and construct a 7 storey residential flat building with 38 dwellings and 2 levels of basement car parking
Sold 09/05/2014 Combined $6,050,000
1942555 4 Arthur St, Marrickville
1942556 6 Arthur St, Marrickville
1942557 8 Arthur St, Marrickville
1942558 R4 10 Arthur St, Marrickville DA2014/00470 18/09/2014 Pending
Demolish existing improvements and the construction of a 6 part 7 storey residential flat building containing 57 dwellings with 2 basement car parking levels
Sold 08/09/2014 $2,000,000
1942142 R2 31 Alfred St, St Peters DA201500244 19/05/2015 Withdrawn
Demolish existing improvements, Torrens title subdivision into 2 allotments and construction of a 2 storey dwelling house on each lot with attached garages
Sold 08/02/2014 $1,188,500
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 74 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
3747438 R1 1A Hill St, Dulwich Hill DA201500246 20/05/2015 Pending
Demolish existing improvements, and construct a 9 part 10 storey residential flat building with 66 dwellings and 3 levels of basement car parking with strata subdivision
1955739 B2 351 King St, Newtown DA201500253 21/05/2015 Pending
Carry out alterations and additions to an existing building and convert into a 4 storey mixed use building with 2 ground floor commercial tenancies, 12 dwellings on the upper floors with associated car parking
Demolish the existing improvements and construct a 5 part 6 storey mixed use development with 2 ground floor commercial tenancies, 31 dwellings on the upper floors and 2 basement car parking levels
1951480 R2 66 Frederick St, Sydenham DA201500206 4/05/2015 Approved
Demolish existing improvements, carry out Torrens title subdivision into 2 allotments and construct a 2 storey dwelling house with loft on each allotment
Sold 17/04/2015 $930,000
1956609 R3 2 Little St, Dulwich Hill DA201500287 6/06/2015
Demolish existing improvements and construct a 3 storey boarding house with 39 boarding rooms including a boarding house manager and basement car parking
3793090 R2 38 Old Canterbury Rd, Lewisham DA201500302 12/06/2015 Construct a 2 storey boarding house with 6 boarding
rooms and associated car parking Sold 11/07/2014
$485,550
1960228 B2 102 New Canterbury Rd, Petersham DA201500302 12/06/2015 Pending
Carry out demolition of 2 retail premises and retention of the 3rd retail premises and construction of a 5 storey mixed use development comprising 3 retail tenancies on the ground floor and a 34 room boarding house on the upper floors
Demolish part of the premises and carry out alterations and additions for the construction of shop top housing with 2 dwellings on the upper floors and maintain the commercial tenancy on the ground floor with associated car parking
1966615 B2 2 Station St, Marrickville DA201500320 23/06/2015 Withdrawn
Demolish existing improvements, consolidation of 4 allotments into 1 and construct an 8 storey mixed use development w/2 ground floor commercial tenancies, 56 dwellings and basement car parking at 2-18 Station Street and the delivery of a public park at 1 Leofrene Avenue including public domain works
1965186 R2 16 School Parade, Marrickville DA201500323 26/06/2015 Refused
Demolish the existing improvements, carry out a Torrens title subdivision of land into 2 allotments and erect a 2 storey dwelling house on each allotment
Torrens title subdivide the land containing the Convent Building at the Athena School for a future residential use including partial demolition to accommodate the line of subdivision and the creation of parking accessed from Fitzroy Lane
Partially demolish rear of existing building, construction of a new building form, and adaptively reuse the remainder of the existing building for use as a hardware and building supplies store over 2 levels with undercroft car parking, boundary adjustments to provide a slip lane from Princes Highway into Smith Street and the widening of Smith Street on the northern side The development is considered to be of Regional Significance. Under the Environmental Planning and Assessment Act the Sydney East Joint Regional Planning Panel is now the consent authority for the purposes of determining the application.
Sold 19/12/2014 $21,550,000
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 76 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish the existing garage to the rear of the site, carry out alterations to the existing dwelling house, subdivide the land into 2 Torrens title allotments and construct a dwelling house on the newly created lot fronting Way Street
Carry out alterations and additions to the warehouse to convert the premises into a mixed use development containing 2 ground floor commercial tenancies and 18 dwellings on the upper floors with associated site and public domain works and dedication of land for a public laneway
Demolish existing improvements and construct a 4 storey shop top housing development containing 2 commercial tenancies on the ground floor and 9 dwellings above, with basement car parking
SOLD 29/10/2014 $2,850,000
1954374 B7 9 Hutchinson St, St Peters DA201500373 16/07/2015 Pending
Demolish existing improvements and construct a 4 storey mixed use development comprising 1 commercial suite on the ground floor and 7 live/work dwellings on the levels above, as well as basement car parking
Demolish existing improvements, Torrens title subdivision of land into 2 lots and to construct a 2 storey house on each allotment, with associated car parking
Demolish part of the premises and carry out alterations and additions to use the premises as a childcare centre for 32 children between the ages of 2-6 years and 5 staff with 2 car spaces
Demolish existing improvements and construct 4 part 5 storey mixed use development with 4 commercial tenancies on the ground floor level, 20 dwellings on the upper floors and associated car parking
Sold 26/11/2013 $2,472,000
1967762 R2 86 Terry St, Tempe DA201500439 13/08/2015 Demolish existing improvements, carry out a Torrens title subdivision into 2 allotments and construct a 2 storey dwelling house on each allotment
Carry out alterations and additions to existing residential premises and convert into a 3 storey boarding house with 10 rooms
Sold 26/04/2014 $1,110,000
1959060 R2 119 May St, St Peters DA201500465 21/08/2015
Demolish the rear part of the premises and carry out ground and first floor alterations and additions to a dwelling house (heritage item) and subdivide the land into 2 lots and construct a new 2 storey semi-detached dwelling house with attic on the resultant lot
1946437 R2 99 Church St, St Peters DA201500466 24/08/2015
Demolish the existing dwelling house, subdivide the land into 2 lots and create a 2 storey dwelling on each allotment
Demolish part of the premises and carry out alterations and additions to the existing mixed use development to maintain the 2 existing ground floor commercial tenancies and provide a ground floor level car parking area and maintain 2 existing dwellings on the first floor and construct 2 additional first floor dwellings.
Demolish existing improvements and construct a 7 storey mixed use development with a commercial tenancy, 1 car parking space and 7 motorcycle spaces on the ground floor level; 33 boarding rooms (including a caretakers unit) on the upper floor levels and basement bicycle and waste storage facilities
1960250 B2 158 New Canterbury Rd, Petersham DA201500522 18/09/2015 Pending
Demolish existing improvements and construct a 3 part 5 storey mixed use development containing a commercial tenancy and car parking on the ground floor and 24 boarding rooms including a manager's residence on the upper floors
Demolish the existing improvements, carry out a Torrens title subdivision of the land into 2 allotments and construct a 2 storey with loft semi-detached dwelling on each allotment
Demolish existing improvements and construct a mixed use development with a 5 storey building (Building A) fronting Princes Highway and a 6 storey building (Building B) fronting Barwon Park Road containing a total of 4 commercial tenancies, 36 dwellings and 3 basement car parking levels containing 45 car spaces
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 79 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish existing improvements, carry out a Torrens title subdivision of land into 2 allotments and construct a 2 storey dwelling house with detached garage on each allotment
Retain existing front façade and demolish remainder of the premises and construct a 6 storey mixed use development with 2 commercial tenancies, associated car parking/loading areas on the ground floor level, 39 dwellings on the upper floors over 2 levels of basement parking.
1950497 R2 27 Fairfowl St, Dulwich Hill DA201500506 14/09/2015
Demolish existing improvements, carry out a Torren title subdivision of land into 2 allotments and construct a 3 storey dwelling house with attached garage on each allotment
1952497 R4 27 Gordon St, Petersham DA201500524 22/09/2015 Refused
Demolish existing improvements and construct a 6 storey residential flat building containing 13 dwellings with basement storage and car parking stackers
1944371 R2 65 Brown St, St Peters DA201500528 29/09/2015
Demolish existing improvements and carry out a Torrens title subdivision of land into 2 allotments and construct a 3 storey dwelling house on each allotment
1952784 R2 44 Grove St, St Peters DA201500510 15/09/2015
Demolish existing improvements, carry out a Torrens title subdivision of land into 2 allotments and construct a 2 storey semi-detached dwelling on each allotmen
1951422 R2 11 Frazer St, Dulwich Hill DA201500515 16/09/2015 Demolish existing improvements including tree removal
and carry out a Torrens title subdivision into 2 allotments Sold 13/06/2015
Demolish existing improvements and carry out a Torren title subdivision of land into 2 allotments and construct a 2 storey dwelling house on each allotment
Sold 25/05/2015 $1,320,000
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 80 of 81
Marrickville Final Report 2015
PID Zone ADDRESS DA NO. LODGED DATE DECISION DATE DETAILS COMMENTS
Demolish existing improvements, carry out a Torren title subdivision of land into 2 allotments and construct a 2 storey dwelling house on each allotment
Carry out alterations and additions to the existing warehouse for an adaptive re-use to create an affordable housing development containing 7 dwellings
Demolish existing improvements and construct a 3 storey mixed use development with a commercial tenancy on the ground floor and 4 dwellings on the upper floors with associated car parking
Demolish existing improvements and carry out a Torren title subdivision of land into 2 allotments and construct a 2 storey semi-detached dwelling with attic and associated car parking on each allotment
Southern Alliance Valuation Services Pty Ltd – Marrickville Final Report – BD 1 July 2015 Page 81 of 81
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.0 801-807 NEW CANTERBURY
RD DULWICH HILL 2203 6/4040 B/937092 1/104521 4/1125682 / X /
3,047.8000 19-Jun-15 $11,200,000 0.00 Large regular shaped Mixed Use development site at the Hurlstone Park end of Dulwich Hill. Sold in one line in an off market transaction.
11-Sep-15B2
CVM206 $11,200,000 $11,200,000 $0
$3,675 $3,675 $0 0.00No$131,765 $131,765 $0
36
Square MetresBV 85M
AJ848963
0 2-8 ARTHUR ST MARRICKVILLE 2204 A,B/407247 & 1,2/500873 / X /
822.0000 09-May-14 $6,050,000 0.00 Off market sale of 4 adjoining separate dwellings, sold in one line for possible High rise redevelopment.12-Aug-15
0 111 - 115 NEW CANTERBURY RD PETERSHAM 2049 1/174651 1/582903 / X /
632.7000 11-Aug-14 $2,850,000 0.00 Improved sale comprising 3 adjoining shops on the fringe of a small neighbourhood centre. RLA off shared ROW.
10-Oct-14B2
CVM206 $2,850,000 $2,850,000 $0
$4,505 $4,505 $0 0.00No$142,500 $142,500 $0
32
Square MetresBV 20M
AJ64540
0 374 - 376 NEW CANTERBURY RD DULWICH HILL 2203 12/564822 2/532191 / X /
525.3000 12-Aug-14 $2,570,000 0.00 Regular shaped mixed use development parcel situated in a secondary position of a small but active shopping centre. Good exposure but only average pedestrian flow.
26-Sep-14B2
CVM206 $2,570,000 $2,570,000 $0
$4,892 $4,892 $0 0.00No$151,176 $151,176 $0
31
Square MetresBV 17M
AI927731
0 102-106 OLD CANTERBURY RD LEWISHAM 2049 1/747317 2/229252 / X /
1,857.4000 29-Mar-14 $9,100,000 0.00 Improved sale of 4 separate properties owned by the same Vendor and sold in-one-line for redevelopment. Three street frontages, including Hudson & McGill
07-Nov-14B4
CAM206 $9,100,000 $9,100,000 $0
$4,899 $4,899 $0 0.00No$156,897 $156,897 $0
32
Square MetresBV 58M
AJ53287
0 73-81 PRINCES HWY ST PETERS 2044 B/109267 1/971353 1/982231 24.38 / 24.38 X 30.48 / 30.48
743.1000 06-Jun-14 $2,900,000 0.00 Small corner site purchased in one line from the same Vendor. Situated on busy road with good exposure but poor pedestrian flow.
0 297 - 305 TRAFALGAR ST PETERSHAM 2049 1/62688, 1/735751, 4/1105379 & 1/68897 / X /
2,069.6001 24-Dec-14 $13,800,000 0.00 Irregular shaped parcel made up of 3 separate buildings sold in-one-line to the same Purchaser. Wide frontage. Land oppsite railway station on moderately busy road and close to Petersham shopping centre.
01-Jul-15R4
EDD206 $13,800,000 $13,800,000 $0
$6,668 $6,668 $0 0.00No$230,000 $230,000 $0
34
Square MetresIW 60M
AJ627440
0 24-28 SMITH ST MARRICKVILLE 2204 6/1111146 7/656573 8/658478 / X /
803.1000 31-Mar-15 $2,200,000 0.00 Two adjoining industrial properties offered in -one -line. Wide 2 way street with good access and connection to main roads.22-May-15
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.0 78 - 80 NEW CANTERBURY RD
PETERSHAM 2049 2/948202 1/925780 / X /
374.6000 16-Jul-15 $2,920,000 0.00 Improved sale comprising a vacant block & a 2 storey commercial bldg on separate parcels. Sold in one line. Regular shaped corner parcel with Audley St.
1,043.4000 30-Apr-14 $3,500,000 0.00 Regular shaped parcel with rear lane access. Land slopes back to rear with x-fall to south. Small centre close to railway, light rail and parklands.
30-Apr-14B1
CNL206 $3,550,000 $4,050,000 $0
$3,402 $3,882 $0 0.00No$101,429 $115,714 $0
30
Mixed Dev. UnitsAD 35M
AI568606
0 102-104 NEW CANTERBURY Rd PETERSHAM 2049 1/849993 1/782128 16.87 / 16.74 X 30.18 / 27.23
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1941447 VALMAP 201 ADDISON RD
MARRICKVILLE 2204 33/632321 7.91 / 7.64 X 30.58 / 30.11
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1942328 VALMAP 22 ALICE ST NEWTOWN 2042
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1943036 138 AUSTRALIA ST NEWTOWN
2042 A/438485 / X / 97.0700 13-Dec-14 $1,150,000 1.60
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1944055 VALMAP 8 BLAIRGOWRIE ST DULWICH
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1944547 21 BURROWS RD S ST
PETERS 2044 10/858187 22.74 / 24.57 X 63.3 / 64.14
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
$ / Anal.Type
LLT LV:$ / m2
$ / Anal.Type
Fctrs:Anal:Adj:
Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1945462 VALMAP 25 CARRINGTON RD
MARRICKVILLE 2204 1/199131 12.19 / 12.19 X 29.65 / 29.65
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
The information contained in this report is confidential between SAVS , OVG NSW and DEPARTMENT OF LANDS NSW. Disclosure or misuse of this information may lead to legal action
Sales SummaryProp ID: Map
Ref:Property Address, Legal
Description and Land Dimensions:Area Comments:LGA: Zone: Analysed LV:
District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
Adjusted LV: $ / m2
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$ / Anal.Type
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Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1949363 VALMAP 42 EDITH ST ST PETERS 2044
14/976172 9.14 / X 28.96 / 259.0000 16-Jul-15 $1,005,000 1.42
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
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Dealing No.1949651 242 ENMORE RD ENMORE
2042 1/977701 / X / 430.0000 04-Jul-14 $1,100,000 1.13
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
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Dealing No.1950080 VALMAP 106 EWART ST DULWICH HILL
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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$ / Anal.Type
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Dealing No.1950813 66 FITZROY ST MARRICKVILLE
2204 C/443139 / X / 126.5000 24-Nov-14 $625,000 1.26
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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$ / Anal.Type
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Dealing No.1951422 VALMAP 11 FRAZER ST DULWICH HILL
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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Dealing No.1952421 VALMAP 45 GOODSELL ST ST PETERS
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Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
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Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1955711 VALMAP 277 KING ST NEWTOWN 2042
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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$ / Anal.Type
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Unit Type: Strata Lot:Area Unit
Dealing No.1958308 VALMAP 33 MARMION ST
CAMPERDOWN 2050 1/136891 13.5 / 13.5 X 32.11 / 32.11
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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$ / Anal.Type
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Dealing No.1960218 VALMAP 74 NEW CANTERBURY RD
PETERSHAM 2049 12/593131 5.65 / 5.58 X 30.63 / 30.59
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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Dealing No.1960600 827 NEW CANTERBURY RD
DULWICH HILL 2203 2/788651 4.96 / 4.96 X 42.51 / 42.51
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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$ / Anal.Type
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Unit Type: Strata Lot:Area Unit
Dealing No.1961933 VALMAP 40 PARK RD SYDENHAM 2044
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
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Comp:Sale Code: Density: Units:
Unit Type: Strata Lot:Area Unit
Dealing No.1963615 VALMAP 2 A QUEEN ST MARRICKVILLE
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
Purch. Price: GST Paid: $ / m2
$ / Anal.Type
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Dealing No.1965245 VALMAP 1 SCHOOL PDE MARRICKVILLE
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Contract: Transfer:
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Dealing No.1965930 48 SIMMONS ST NEWTOWN
2042 2/260979 / X / 127.9000 11-Dec-14 $866,000 1.26
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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Dealing No.1966522 2 STANMORE RD ENMORE
2042 12/960694 / X / 796.7000 01-Jul-15 $3,100,000 0.00
14-Aug-15B2
CVM206 $0 $0 $1,990,000
$0 $0 $2,498 0.00No$0 $0 $1,990,000
797
Square MetresBH 1M
AJ818797
1966811 VALMAP 53 STATION ST TEMPE 2044 2/219227 5.7 / 5.58 X 38.12 / 38.22 IRREGULR
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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Dealing No.1967423 VALMAP 30 TERMINUS ST PETERSHAM
2049 2/61813 1/651726 21.84 / 24.79 X 30.48 / 30.63
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
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District: Zone: Component: Date: 01-Jan-14 to: 25-Nov-15 Benchmark Sales
Contract: Transfer:
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Dealing No.1969021 264 UNWINS BRIDGE RD
SYDENHAM 2044 B/955339 5.03 / 5.08 X 34.09 / 34.04
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Contract: Transfer:
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Dealing No.1970696 VALMAP 22 WEMYSS ST ENMORE 2042
3/71123 12.32 / X 45.62 / 575.0000 06-Dec-14 $1,890,000 1.56
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Contract: Transfer:
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Unit Type: Strata Lot:Area Unit
Dealing No.3844490 VALMAP NEWINGTON RD
MARRICKVILLE 2204 B/340788 16.154 / 16.154 X 15.45 / 15.621
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Region Month Qtr YOY
Sydney 1.4% 2.4% 13.0% 17.5% $723,000
Melbourne 2.7% 1.5% 7.0% 10.7% $561,000
Brisbane 0.6% 1.8% 4.6% 9.5% $458,000
Adelaide -1.2% 0.3% 3.1% 7.6% $410,000
Perth -0.6% 2.2% 2.6% 6.9% $525,000
Hobart 1.6% 4.4% 3.0% 8.6% $341,000
Darwin -1.3% -2.6% 1.4% 7.6% $525,000
Canberra 0.9% -0.2% -0.3% 4.0% $523,000
Combined capitals 1.3% 1.9% 8.0% 12.2% $555,000
Rest of state* -0.1% 0.3% 2.1% $355,000
Median dwelling
price
Change in dwelling values Total gross
returns
CoreLogic RP Data January 2015 Hedonic Home Value Index Results
National Media Release
Housing market starts the year on strong footing Two-tiered housing market dynamics persisted over the first month of 2015, with strong gains recorded across Sydney and Melbourne, pushing capital city dwelling values 1.3 per cent higher.
Released: Monday, February 2, 2015 – For Immediate release
Highlights over the three months to January 2015
Best performing capital city: Hobart +4.4 per cent
Weakest performing capital city: Darwin -2.6 per cent
Highest rental yields: Darwin houses with gross rental yield of 6.0 per
cent and Darwin Units at 5.9 per cent
Lowest rental yields: Melbourne houses with gross rental yield of 3.2 per
cent and Melbourne units at 4.2 per cent
Most expensive city: Sydney with a median dwelling price of $723,000
Most affordable city: Hobart with a median dwelling price of $341,000
* Rest of state change in values are for houses only to end of December
Index results as at January 31, 2015
Change in dwelling values
from previous market peak
Change in dwelling values
from market trough
Annual change in dwelling
values over past 10 years
Change in dwelling values
over past twelve months
The January CoreLogic RP Data Home Value Index results showed capital city dwelling values rose by 1.3 per cent over the first month of the year, indicating a strong start for the housing market in 2015.
While the headline reading is strong, overall housing market performance varied substantially between the capital cities. The largest cities, which have more influence over the combined capital city index due to the high number of dwellings, continued to push the aggregate index higher. Melbourne values were up 2.7 per cent over the month and Sydney values increased by 1.4 per cent. Hobart also recorded a strong monthly result with dwelling values up 1.6 per cent.
Three capital cities recorded a decline in dwelling values over the month, with Darwin values down 1.3 per cent, Adelaide recorded a 1.2 per cent decline, whilst Perth values were down 0.6 per cent over the month.
The quarterly change revealed a clearer picture for housing market conditions, with the combined capitals index recording a 1.9 per cent gain over the three months ending January.
While Sydney continued to be the standout for capital gains, the most significant increase in dwelling values over the past three months was recorded in Hobart where dwelling values moved 4.4 per cent higher, eclipsing the 2.4 per cent capital gain in Sydney, which was the second highest quarterly reading across the capitals.
According to CoreLogic RP Data Head of Research Tim Lawless, having Hobart produce the strongest results over the past quarter is certainly a unique occurrence.
“Generally, Hobart has recorded the lowest rate of capital gain since the onset of the GFC, however housing market conditions have been improving. Local economic conditions have been improving and Hobart homes are the most affordable of any capital city. Additionally the market is benefitting from the return of ‘lifestyle buyers’. After Darwin, the southernmost capital is also showing the second highest gross rental yields of any other capital city.”
Despite Hobart’s strong quarterly capital gain, Sydney still holds as the city with the highest rate of capital gain over the past twelve months where dwelling values are currently 13 per cent higher. The annual gain in dwelling values across the combined capitals index was 8.0 per cent at the end of January, ranging from a 13 per cent gain in Sydney to a 0.3 per cent reduction in dwelling values across Canberra.
Sydney has also shown the highest aggregated capital growth of any capital city in the years after the GFC.
Mr Lawless commented that since the beginning of 2009, Sydney has been a stand out housing market. From January 2009 through to January 2015 Sydney home values have increased by 57 per cent.
The second highest rate of growth over the same period has been in Melbourne where values are 50 per cent higher. There is a significant gap between the next best performers over the same six year period. Darwin has seen less than half the level of growth at 24 per cent, followed by Canberra at 18 per cent and Perth at 17 per cent total growth” Mr Lawless said.
Houses and units showed an equal rate of capital gain over the month, however the longer trend is clearly showing detached housing to be the stronger performer for capital growth. Across the combined capitals index, detached housing values were 8.2 per cent higher over the past twelve months, compared with a 6.2 per cent capital gain for unit values.
The lower rate of capital gain in the unit market was apparent across most capital cities. The only capital cities where apartments showed a higher capital gain than detached houses were Adelaide (houses +2.9% / Units +4.5%) and Canberra (houses -0.5% / units +1.4%).
According to Mr Lawless, the lower rate of capital gain across the apartment market coincides with higher supply levels across the medium to high density housing sector.
Based on recent ABS data, apartment approvals reached an all-time high in November, which, according to Mr Lawless, is possibly keeping a lid on capital gains across the multi-unit sector of the market. Detached housing values are being driven higher by scarcity of land and lower supply levels.
As capital gains continue to run strong, at least at the combined capital city level, rental markets remain weak. Weekly rents have hardly moved over the past year, up by just 1.7 per cent over the past twelve months. With dwelling values rising at nearly five times the pace of rents, we are seeing a consistent deterioration in rental yields.
A typical Melbourne house is now showing a gross yield of just 3.2 per cent, which is the lowest of any capital city. Sydney isn’t far behind with houses providing an average gross yield of 3.5 per cent.
According to Mr Lawless, the stubbornly strong housing market conditions are likely to be part of the debate at the Reserve Bank’s February board meeting tomorrow.
“Lower interest rates could potentially add further fuel to the housing market, particularly the investor segment, which continues to remain strong based on recent data. The recently released RBA credit aggregates showed investor loan commitments rose by just over 10 per cent last year which is above the threshold that APRA (The Australian Prudential Regulation Authority), indicated they would be comfortable with,” Mr Lawless said.
At the other end of the spectrum is Hobart where dwelling values are unmoved over the six year period, Brisbane values are 9 per cent higher and Adelaide values have moved 10 per cent higher.
According to Mr Lawless, despite the strong start to the year, there is evidence that some heat is leaving the housing market.
“In a sign that housing market conditions are gradually cooling, the rolling annual rate of capital gain has been trending lower. At the end of January the annual rate of dwelling value growth across the combined capitals index had slowed to 8.0 per cent, down from the early 2014 peak of 11.5 per cent.
The gradual slowdown is spread broadly with all capital cities currently recording a slower annual rate of appreciation compared with recent peaks.
“This slower rate of appreciation should provide some comfort to regulators that housing demand is starting to taper, despite the historically low interest rate environment.
“Diminishing affordability levels are likely blocking many price sensitive buyers such as first time buyers and low income families from the market. Additionally, lower rental yields and the prospect of tighter lending conditions for investment loans is likely to moderate the investor segment of the market as well,” Mr Lawless said
National Media Release (Cont’d) Rolling annual change in capital city dwelling values
Media inquiries contact: CoreLogic national communications manager – 07 3114 9879 or [email protected]
About CoreLogic RP Data CoreLogic RP Data is a wholly owned subsidiary of CoreLogic (NYSE: CLGX),which is the largest data and analytics company in the world with revenues of $1.3Bn USD from 50,000 business and government customers and over 1 million end users. CoreLogic RP Data provides property information, analytics and services across Australia and New Zealand and is currently developing and growing partnerships throughout Asia.
With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 500 million decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information. With over 11,000 customers and 120,000 end users, CoreLogic RP Data is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, insurance, developers, wealth management and government.
CoreLogic RP Data delivers value to clients through unique data, analytics, workflow technology, advisory and geo spatial services. Clients rely on CoreLogic RP Data to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic RP Data employs over 480 people at nine locations across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au
The indices in grey shading have been designed for trading environments in partnership with the Australian Securities Exchange (www.asx.com.au). Indices under blue shading (Hobart,
Darwin, Canberra, Brisbane and the 8 capital city aggregate) are calculated under the same methodology however are not currently planned to be part of the trading environment.
*The median price is the middle price of all settled sales over the three months to the end of the final month. Median prices are provided as an indicator of what price a typical home sold
for over the most recent quarter. The median price has no direct relationship with the CoreLogic RP Data Hedonic Index value. The change in the Index value over time reflects the
underlying capital growth rates generated by residential property in the relevant region.
The CoreLogic RP Data Hedonic Index growth rates are not ordinarily influenced by capital expenditure on homes, compositional changes in the types of properties being transacted, or
variations in the type and quality of new homes manufactured over time. The CoreLogic RP Data ‘index values’ are not, therefore, the same as the ‘median price’ sold during a given
period. See the methodology below for further details.
Methodology: The CoreLogic RP Data Hedonic Home Value Index is calculated using a hedonic regression methodology that addresses the issue of compositional bias associated with
median price and other measures. In simple terms, the index is calculated using recent sales data combined with information about the attributes of individual properties such as the
number of bedrooms and bathrooms, land area and geographical context of the dwelling. By separating each property comprising the index into its various formational and locational
attributes, differing observed sales values for each property can be separated into those associated with varying attributes and those resulting from changes in the underlying residential
property market. Also, by understanding the value associated with each attribute of a given property, this methodology can be used to estimate the value of dwellings with known
characteristics for which there is no recent sales price by observing the characteristics and sales prices of other dwellings which have recently transacted. It then follows that changes in
the market value of the stock of residential property comprising an index can be accurately tracked through time. RP Data owns and maintains Australia's largest property related database
in Australia which includes transaction data for every home sale within every state and territory. CoreLogic RP Data augments this data with recent sales advice from real estate industry
professionals, listings information and attribute data collected from a variety of sources. For detailed methodological information please visit www.corelogic.com.au
For more information on the CoreLogic RP Data Indices, please go to http://www.corelogic.com.au
Media enquiries contact: Mitch Koper , CoreLogic RP Data national communications manager – 07 3114 9879 or [email protected]
Introduction to the CoreLogic RP Data Daily Hedonic Home Value Index methodology:
The CoreLogic RP Data Hedonic Home Value Index is calculated using a hedonic regression methodology that addresses the issue of
compositional bias associated with median price and other measures. In simple terms, the index is calculated using recent sales data
combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and
geographical context of the dwelling. By separating each property comprising the index into its various formational and locational
attributes, differing observed sales values for each property can be separated into those associated with varying attributes and those
resulting from changes in the underlying residential property market. Also, by understanding the value associated with each attribute of a
given property, this methodology can be used to estimate the value of dwellings with known characteristics for which there is no recent
sales price by observing the characteristics and sales prices of other dwellings which have recently transacted. It then follows that
changes in the market value of the stock of residential property comprising an index can be accurately tracked through time. CoreLogic
owns and maintains Australia's largest property related database in Australia which includes transaction data for every home sale within
every state and territory. CoreLogic augments this data with recent sales advice from real estate industry professionals, listings
information and attributes data collected from a variety of sources. For detailed methodological information please visit
www.corelogic.com.au.
CoreLogic RP Data Home Value Index tables
Capital Growth to 31 January 2015 Sydney Melbourne
One of Shanghai's richest men purchased a key parcel of waterfront land within the Baird government's proposed Bays Precinct, just weeks after a government summit to spruik the majorredevelopment.
Most of the Blackwattle Bay waterfront is government-owned, but Jin Huiming's Dahua Group paid $17.5 million to buy the Bidvest site next to the Sydney Fish Market in December.
Government agency Urban Growth plans to redevelop the Sydney Fish Market into a wider apartment, employment and dining precinct. The land is currently zoned non-residential.
Mr Jin, 63, was ranked by Forbes as the 36th richest person in China a decade ago, as Dahua ranked in China's top 10 real estate companies.
His private real estate and construction company boomed during the redevelopment of Shanghai's Pudong waterfront district.
Urban Growth is consulting with the community on a plan to transform the Bays Precinct, and expects a decision from the Baird government on a development blueprint in August.
Urban Growth chief executive David Pitchford said last week neither he, nor new Minister for Planning Rob Stokes had met with developers, after The Sun-Herald reported Dahua wouldmake a $3 billion bid to redevelop Blackwattle Bay.
But Fairfax Media can reveal Dahua's Destination Blackwattle Bay consortium lodged a secret "unsolicited proposal" with the NSW government in late 2013, at the same time asconstruction giant Brookfield Multiplex made a rival secret bid.
The Baird government held an international summit in November 2014 to publicly discuss the Bays Precinct.
But a competitive tender for a redevelopment project that will dwarf Barangaroo is expected to be quickly called if cabinet approves Urban Growth's plan.
Dahua's purchase of the Blackwattle Bay site means Urban Growth will have to negotiate with the company, regardless.
Dahua has also purchased Bidvest's fish supplier, Felan's Fisheries, which gives it a 25 per cent stake in the Sydney Fish Market Merchants and Tenants company.
Any redevelopment of the fish market must be approved by the SFM Merchants and Tenants, and in 2011 they rejected a proposal that had been backed by the Sydney Fish Market boardand state government.
Destination Blackwattle Bay managing director John Shepherd said the Dahua consortium was confident the NSW government would run the process in a "fair and consultative" manner.
"The DBB bid for the redevelopment of the Blackwattle Bay precinct first and foremost takes into account the security of jobs, business investment and ownership for the tenants,merchants and fisherman," he said.
"Our investors, who have investment in adjacent freehold land, and a business at the Sydney Fish Market, recognise the importance and value that the Sydney Fish Market provide to thefabric of Sydney and the economy of Australia."
A Brookfield Multiplex spokesperson declined to comment, but the company has been in discussions with Sydney Fish Market management about a bid.
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An Urban Growth spokeswoman said the agency was working closely with Sydney Fish Market "to obtain their support for the urban transformation opportunity."
Urban Growth would not force adjacent landowners to sell, but was "engaging" with them, she said.
Sydney architecture firm PTW, which worked on the Barangaroo master plan for Lend Lease, has worked with Dahua in China.
PTW marketing manager Lorraine Sperling said the Bays Precinct was "absolutely" the premier site for upcoming development, and PTW was speaking to "several entities, local andinternational" about potential partnerships as the construction industry jostles for position.
Last year Mr Jin dropped off the Forbes rich list as the Chinese property market cooled, and new purchasing restrictions were imposed that limit couples to two apartments. Chineseproperty developers are looking overseas for growth.
The Foreign Investment Review Board's annual report shows China overtook the United States as the largest source of foreign investment for the first time last year, as real estateinvestment surged.
This story was found at: http://www.smh.com.au/nsw/chinese-developer-made-secret-bid-to-nsw-government-for-sydney-fish-market-20150523-gh83qf.html
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Jacob SaulwickPublished: April 29, 2015 - 6:00PM
"I wouldn't start from here": Tim Williams' presentation [PDF - 31MB]What you need to know about WestConnexMore NSW news
The head of a major Sydney business lobby group has come out swinging against the Baird and Abbott governments' road-building agenda,while also slamming the boss of the WestConnex project for trying to divide the city.
The chief executive of the Committee for Sydney, Tim Williams, told an audience at the University of Sydney last week all sides of politicshad "got it wrong" on the city's transport priorities, criticising them for a lack of ambition in promoting public transport in the growingmetropolis.
Dr Williams, whose organisation's members include major construction, finance and engineering firms, also called on the government torelease the business cases for the new mega projects being proposed for Sydney which, to its detriment, remained in the thrall of roadbuilders.
"There is no strategic or structural planner of Sydney at this point of time outside of RMS [Roads and Maritime Services]," Dr Williamstold the Halloran Trust event at the university.
"RMS is the structural planner for Sydney," Dr Williams said, before quoting George Orwell to the effect that Sydney was "a family withthe wrong members in control".
"I'm sorry to have to say it but I think it is, I think we've got problems," he said. "I think in its current form, RMS needs to bereconstructed."
Dr Williams' presentation largely reflected familiar themes advanced by transport academics and urban planners. As cities became denser,governments needed to fit them with better public transport, cycling and walking facilities, rather than focusing on new motorways thatencourage sprawl and car use.
But the intervention is significant because it is rare for a big business group to press these points. Members of the Committee for Sydneyinclude major engineering firms like Arup and AECOM, as well as finance companies like Macquarie Group, Westpac and ANZ.
"We are in the presence of another road transport upheaval in this city," Dr Williams said, while showing a slide of the $15 billionWestConnex motorway and its proposed extensions to the north and south.
"Which, by the way, we are not seeing in any other cities in the world," he said. "And that's the issue – many other cities in the world aretaking their highway capacity out and I'm just wondering, what is so different about the Australian city experience that means that they'rewrong and we are right?
"We think this is a congestion-busting proposition and nowhere in Christendom does that appear to be the case – so what's going on?"
For the most part, Dr Williams declined to specifically cite the WestConnex project, a 33-kilometre series of motorways largely through theinner west of Sydney.
But he aimed direct criticism at the chief executive of the WestConnex Delivery Authority, Dennis Cliche, for comments reported in theHerald in which Mr Cliche said those opposed to WestConnex were wealthier people in inner suburbs.
"They're not living in the mortgage belt. They don't have kids who are to some extent excluded socially from the opportunities that somepeople have," Mr Cliche said.
In his address, Dr Williams said this was a "terrible way to have a civic dialogue about transport in our city".
"Trying to set one part of the community against another, trying to say that the inner west community is trying to stop the good people ofwestern Sydney getting access to something," Dr Williams said.
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"This is the statement by the chief executive of the WestConnex Delivery Authority and more shame him. I know him and he's spoken tothe Committee for Sydney," he said.
"I am astonished. I think he must be panicking. I don't think his masters would want the dialogue to be conducted like this.
"But also it's just wrong. Because if you are worried about the inequity of our city and access to public transport, there's really a good thingto do about it – give them access to public transport in western Sydney."
Contacted for comment, Mr Cliche said: "Sydney needs an integrated transport solution that includes both roads and public transport tokeep our city moving. It is not an either/or proposition.
"WestConnex Delivery Authority is committed to engaging with our stakeholders as a core part of planning and delivering this project. Wewelcome constructive dialogue which will help ensure we deliver the best possible road infrastructure for Sydney."
Dr Williams called on the government to release the business case for the WestConnex project – "the people who propose these massiveprojects, they haven't even bothered to show us the evidence" – but also criticised the lack of focus at the recent state election on alternativepublic transport proposals.
"For me it's a politically neutral thing, they've all got it wrong."
Dr Williams said what was needed was a transport "revolution" in Sydney, with aggressive targets to promote public transport use.
Separately, City of Sydney Lord Mayor Clover Moore has been campaigning against WestConnex and this week released a report queryingits supposed benefits.
In response, Roads Minister Duncan Gay said: "While Clover Moore wastes ratepayers money on dubious traffic studies, she turns a blindeye to the thousands of motorists stuck on the M4 and M5 each day."
"Motorists battling the M4 and M5 every day, those stuck in gridlock on Parramatta Road, can't wait for WestConnex – they know to donothing is not an option," Mr Gay said.
Concord tunnelling point announced
Separately, Mr Gay announced on Wednesday that a hockey field at Concord would make way for the motorway project's midwaytunnelling point.
Players displaced by loss of the Cintra Park Hockey Field would be accommodated in "new and improved" facilities at the St Lukes Parkprecinct, said Mr Gay, who added the decision eliminated the need to acquire homes.
"The mid-point allows tunnelling work to be carried out in two directions from the one location, towards the M4 widening at HomebushBay Drive and towards the end of the M4 East tunnel at Haberfield," he said.
This story was found at: http://www.smh.com.au/nsw/committee-for-sydneys-tim-williams-slams-road-building-plans-for-city-20150429-1mv3vq.html
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Anna AndersonPublished: December 8, 2014 - 4:18PM
The launch of a new apartment development in Summer Hill on Saturday realised $82 million in sales. Of the 127 apartments and terraces offered in the planned Flour Mill development,85 per cent had sold by the end of the day.
Inner-west residents were the main force in the 200-odd crowd and made up 90 per cent of buyers. Many had been watching the site for years.
The EG Funds Management development designed by Hassell architects incorporates a mill conversion of two sets of historic silos, which have stood on the site for almost 100 years.
The complex includes new buildings that will house the living areas, and the circular silos will contain the bedrooms and bathrooms.
The masterplan has 300 apartments, a retail precinct and a communal park, which will host weekend markets. It is due for completion in late 2017.
Selling agent Colliers International said Saturday's buyers were divided, with 65 per cent being owner-occupiers. Investors and first-home buyers snapped up the studios, which werepriced from $555,000 and one-bedroom apartments from $520,000.
Two-bedroom apartments started at $770,000 and three-bedroom units sold from $950,000. The four-bedroom terrace houses started at $1,375,000.
The location, close to Summer Hill village, the light rail and two train stations were big drawcards along with the site's industrial past and the unique nature of the development.
One of the first to buy on Saturday morning was Dr Kiran Thapa. Already a Summer Hill resident, Dr Thapa and his wife, Zoma, bought a two-bedroom apartment with city views.
The chief executive officer of Capkon, a mortgage broking firm in Summer Hill, Dr Thapa had been waiting for the launch of the Flour Mill project. "I bought an investment unit in theCarlton Estate at Summer Hill through Colliers so I was on their register," said Dr Thapa.
Happy with his children's local school and the vibrancy of Summer Hill, Dr Thapa paid $925,000 for his seventh-floor apartment. "It's big money but it's worth it," he said. "Given theuniqueness of the project, its proximity to the city and views our apartment will have, I think it's worth even more than I paid."
Ian Bennett, director of selling agent Colliers International Residential, said the Flour Mill also has its own light rail station.
Construction of the apartments is due to start early next year.
Last weekend, other new developments in Sydney also tallied strong sales. At the launch of Defence Housing Australia's latest stage of the Crimson Hill masterplan in Lindfield, 80 percent of the Shout Ridge apartments sold. Prices ranged from $575,000 to $885,000 and totalled more than $28 million for the 38 sold on the day.
At nearby Chatswood, 120 apartments or 80 per cent of Toga Group's The Chatswood development had sold by 10am. Buyers queued from 7.30am.
And at Manly, two blocks form the beach, 80 per cent of a low-rise complex of 18 apartments known as Zinc, sold on its launch day. Prices ranged from $690,000 to $1.35 million.
This story was found at: http://www.smh.com.au/domain/real-estate-news/flour-mill-apartment-buyers-rise-to-the-occasion-20141208-122nmz.html
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Leesha McKennyPublished: October 7, 2015 - 6:19PM
The suburb that's set to become the most densely populated in the country is going to be bigger than previously thought, fuelling concernsabout the congestion issues already plaguing Green Square.
The 278-hectare area to the south of Sydney's central business district is now expected to reach a population of 61,000 people by 2030, newCity of Sydney projections show.
This population, equating to 22,000 people per square kilometre, is up from a previous estimate of 54,000 people.
The blow-out means Green Square is set to become almost 50 per cent denser than the current population of Pyrmont, which is Australia'sdensest suburb at almost 15,000 people per square kilometre.
The council said the increase across the $13 billion precinct was mainly due to its "design excellence" process, which allows developers toseek a 10 per cent floor space bonus in return for delivering higher quality projects.
About 10,000 of Green Square's eventual 30,500 dwellings are now under assessment or construction.
"This new data on Green Square's rapid evolution illustrates the community's confidence in what is one of the biggest urban renewalprojects in the country," Sydney's Lord Mayor Clover Moore said.
But that was not the sentiment expressed by Darren Jenkins, the president of the Friends of Erskineville, a community group that has longvoiced frustration at the failure of authorities to keep pace with the infrastructure needs of the area.
The increase of 7000 people "certainly should come as no surprise" to the council or state government, Mr Jenkins said.
"It's almost inevitable that developers are going to try to get as many apartments into the space as they possibly can," he said.
Two major government reports, obtained by the group earlier this year under freedom of information laws, show that numerousrecommendations about the area's transport capacity have still not been acted on.
"If you look with who actually is moving into these places, moving into new apartments, it will mean young families, and again planningfor schools, for childcare – which is so important for productivity – is lagging far behind what the consequential demand will be," MrJenkins said.
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Green Square projection v top 10 densities
*Projected 2030 figure, all others 2014 figures
Source: ABS (2015) Regional Population Growth; City of Sydney Get the data Created with Datawrapper
Cr Moore, who noted the city was investing more than $540 million on new facilities for Green Square, said the new figures highlightedthe urgent need for new schools and transport.
"The NSW government has still not allocated any funding or revealed where the local primary and high schools will be located for tens ofthousands of new residents in Green Square," Cr Moore said.
But in the face of "worsening traffic congestion", she welcomed recent comments by Transport Minister Andrew Constance, who said alight rail line was needed to prevent the area becoming a major traffic choke point for the whole of Sydney.
"The City has already invested $40 million to secure most of a transport corridor and we are now working with Transport for NSW toassess funding models, look at route options and undertake other work required to progress the development of a new network," Cr Mooresaid.
Labor councillor Linda Scott said City of Sydney documents from more than a decade ago highlighted the need for services including alibrary, swimming pool, and community centre at Green Square.
Of these, only the community centre had been built, Cr Scott said.
"For the term of the current lord mayor, as more and more units are completed, the infrastructure needed for Green Square has not beendelivered and local residents have missed out," Cr Scott said.
However, a council spokesman said work on the library, pool and other parts of the town centre could not go ahead until after the counciland Sydney Water reached an agreement about major drainage works.
A deal was struck in 2013 and "these drainage works are now well underway," he said.
The new population figures come more than a year after Jan Gehl, the internationally renowned urban planner hired by the council, alsoflagged concerns about Green Square's overall density.
"It is quite high and it is quite dense and it will be somewhat overshadowed in many places, so it is extremely important that the spacesbetween the buildings become very acceptable, very attractive," the Danish architect said.
This story was found at: http://www.smh.com.au/nsw/green-square-infrastructure-under-pressure-as-projected-population-swells-20151007-gk2z1o.html
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Andrew WilsonPublished: February 10, 2015 - 3:30PM
Sydney remains the runaway leader for capital city housing growth, according to the latest data from the Australian Bureau of Statistics.
In its established house price index for the December quarter released on Tuesday, the Sydney index increased by 3.4 per cent, compared with the next best cities, Melbourne andBrisbane, which both increased by 1.5 per cent.
Sydney also recorded the highest increase in the index over 2014 - up by 12.8 per cent - again well ahead of the equal second-placed Melbourne and Brisbane markets where establishedhouse price indices increased by 5.4 per cent.
Despite this strong growth last year, the Sydney increase was below the 16 per cent price rise recorded over 2013.
The Brisbane market's annual growth in 2014 was similar to the 5.7 per cent increase recorded in 2013. But the Melbourne established house price index weakened sharply over 2014,reporting nearly half of the 10 per cent recorded over 2013.
Other capital city markets produced patchy results with Perth recording growth of 1.5 per cent in 2014 compared with the 8.3 per cent the previous year. The Canberra established houseprice index increased by 2.6 per cent over 2014, a significant improvement on 2013 when it fell 0.3 per cent.
Dr Andrew Wilson is senior economist for the Domain Group,
Twitter @DocAndrewWilson
This story was found at: http://news.domain.com.au/domain/real-estate-news/growth-in-sydney-house-prices-outstrips-all-other-cities-abs-20150210-13atpt.html
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Melanie KembreyPublished: June 4, 2015 - 8:24PM
Pollution stacks would be built near homes in Homebush and Haberfield and more than 180 properties would be demolished to make wayfor the proposed M4 East motorway extension.
New designs released on Thursday show that thousands of people will live near the emission outlets under plans to build three-lanetwin tunnels from the existing M4 at Homebush to Haberfield.
More than 4600 trucks and 20,000 cars are predicted to use the new tunnels under the inner west everyday. They are also expected toremove thousands of cars and trucks from the struggling Parramatta Road.
Electrical substations, a ventilation outlet, air supply inlet, fire pump and water tanks are proposed for the intersection of Wattle Street andParramatta Road in Haberfield and Underwood Road in Homebush.
The Haberfield outlet, which is about 600 metres from Haberfield Public School, will also emit ventilation from the future link between theM4 and M5.
Any health impacts of the stacks, as well as their design or height, have not been revealed. A WestConnex Delivery Authorityspokeswoman said the details would be included in an environmental impact statement to be released in the "next few months". Amore "detailed and precise" design would also be displayed for community consultation.
The delivery authority maintains that trials of tunnel filtration systems have shown they do not provide "value for money in removingpollutants from the air" and it would be more effective to upgrade or exclude smokey vehicles, according to a statement on its website. Itsays an air quality assessment and monitoring program for the M4 East has been developed.
The design also shows that entry and exit points for the 5.5-kilometre tunnels will be located at the M4 Motorway at Homebush, ConcordRoad at North Strathfield, Parramatta Road at Haberfield (near Bunnings) and the City West Link at Haberfield.
The spokeswoman said 182 residential and commercial properties will be compulsorily acquired to make way for the tunnels.
WestConnex Action Group spokeswoman Pauline Lockie said some residents had only found out they would be losing their homes onThursday as the plans were publicly released.
She said it was outrageous there had been no consultation and residents affected by the plans were "extremely distressed".
A large number of the homes to be lost due to the stacks and entry and exit points to the tunnel will be in Haberfield.
Haberfield Association president Emma Brooks Maher said the unique identity of Haberfield would be lost.
"Haberfield is a garden suburb of international significance. It's the world's first garden suburb and it should be looked at from its heritagepoint of view," she said.
The delivery authority spokeswoman said the project was designed to minimise property acquisition and more than 50 per cent ofWestConnex would be in underground tunnels.
"Some property owners are already in negotiations. Where properties are impacted, we contact owners as soon as we are in a position to doso," she said.
The $2.7 billion contract to build the extension has been awarded to Leighton Contractors, John Holland and Samsung C&T.
Roads Minister Duncan Gay said an extra 1.6 million people would live in Sydney in the next 20 years and WestConnex was needed to stopthe city coming to a "grinding halt".
"WestConnex will help provide relief for hundreds of thousands of motorists stuck in gridlock on the M4 and M5 each day," he said.
"We are investing historic levels of funding to build public transport like the $8.3 billion North West Rail Link, but upgrading Sydney's
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existing motorway network is vital."
Fairfax Media revealed last week that the government's own traffic modelling showed that congestion on multiple roads in the inner westwould continue to worsen even after the motorway was built.
Opposition transport spokeswoman and Strathfield MP Jodi McKay said a business case for the WestConnex program needed to bereleased.
"It is concerning that this Liberal government is happy to hand out contracts while continuing to refuse to release the business case behindWestConnex," she said.
"Let the people whose homes will be compulsorily acquired at least see the business case supporting this road."
The construction of the M4 East tunnels still needs planning approval but is expected to commence mid next year and is due to becompleted in 2019.
This story was found at: http://www.smh.com.au/nsw/haberfield-and-homebush-set-for-pollution-stacks-as-m4-east-tunnel-plans-revealed-20150604-ghgu8p.html
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Rose PowellPublished: January 15, 2015 - 8:58AM
New laws bad news for apartment owners, advocate says
Apartment owner Peter Davis has been locked in battles with his building's developers for years and warns new laws that come into force on Thursday will cause an "even worse hell forhome owners than we've been through".
Mr Davis and his wife bought an apartment in a new block on Sydney's upper north shore seven years ago, only to pay tens of thousands in legal fees to fix construction defects thatrequired replastering the pool, a new ventilation system, as well as fireproofing issues discovered only last year.
"We [the owners' corporation] have paid millions in legal fees and expert reports that would stand up in court. Under the new laws, we would have had to pay for the repairs ourselves.These new laws are completely inappropriate," Mr Davis said.
Owners of new apartments will now have only two rather than six years to get developers to foot the bill for building defects, once the Home Amendment Act takes effect.
A spokesman for Fair Trading NSW said the new laws, passed in September last year, were designed to strengthen the consumer protections and address issues in construction industry bychanging the licensing system for tradespeople.
These will increase penalties for practitioners and companies with a track record of issues, as well as changing payment structures to ensure fewer major defects.
Home owners will be able to access the previous six-year warranty only in relation to flaws that put the building or property at risk of falling down or becoming uninhabitable. Thedefinition for "major defect" is new in the act.
But the peak body representing strata owners has described the new defect rules as "draconian" and told Fairfax Media the changes would have serious and far-reaching consequencesbecause many issues take years to emerge.
"Apartment owners are in for a nasty shock when they discover problems from Thursday, and learn the government has left them pretty much on their own. Right now, I could not in goodconscience recommend buying into a new building," Owners Corporation Network executive officer Karen Stiles said.
"Once owners and lenders understand the enormity of these changes, the interest in new properties will plummet and that will impact the construction industry."
Building defects are remarkably common. In 2012, the University of NSW City Futures Research Centre found more than 85 per cent of apartment blocks built since 2000 have defects.
The most common defects were internal water damage, water penetrating from the outside, and fire safety shortcuts. But these issues will be covered by the six-year warranty only if theyare also designated as major defect.
Lead UNSW researcher Hazel Easthope said many significant common problems that can cost hundreds of thousands to fix were unlikely to be covered under the new laws.
"These are very serious defects but it can take years before the owner becomes aware of the issue," Dr Easthope said.
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"What may appear to be a hairline crack in two years can be a major problem in five. When you factor in how long it can take for owners corporations to get organised, two years is notmuch time at all."
Fair Trading deals with about 8000 complaints over residential buildingseach year. A spokesman for the department said the act offered an integrated package of laws for business andconsumers by being more specific and flexible.
"Importantly, the new laws will provide greater protection for consumers and offer clarity about rights and responsibilities of builders' liabilities, particularly in relation to defects," thespokesman said.
Urban Development Institute of Australia NSW chief executive Stephen Albin said the HAA was a series of commonsense changes that was good news for the construction industry andconsumers.
"Defects are unavoidable, they'll always happen but these laws will help put more integrity into the system and cut down on major defects by empowering qualified tradespeople," MrAlbin said.
More than 3 million Australians live in apartment blocks, and another 1 million are expected to move into apartment blocks within the next 10 years.
FACT BOX:
Building defects must be identified and compensation sought within two years.Flaws that make a building uninhabitable or likely to collapse can be classified as a "major defect".There is a six year warranty for major defects.Builders and traders face up to a year in prison for repeated unlicensed contracting work.Minor work worth under $5000 can now be carried out without a licence.The act was designed in partnership with a strata and home insurance amendment act, which has been delayed.
This story was found at: http://www.smh.com.au/nsw/home-building-amendment-act-sydney-apartment-owners-say-law-changes-are-draconian-20150114-12n57u.html
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Stephen Nicholls, Camille BianchiPublished: December 23, 2014 - 8:20AM
Auctions turned violent in Sydney's west on Saturday, with police called to break up a scuffle that broke out between protesters, buyers and even the auctioneers.
"One of the protesters actually grabbed a buyer, and grabbed one of our staff members," auctioneer Ricky Briggs said.
"He actually grabbed his collar and tie and scrunched it up just below the throat line ... that's when security guys jumped in and police were called."
The incident occurred during the auction of 12 homes in Homebush West, several of which were tenanted by people paying as little as $500 a month. It's understood that the main protesterwas the son of one of those tenants.
But the selling agents denied the tenants faced eviction. The houses sold for between $840,000 and $915,000 - as much as $200,000 above their written reserve price. "They were all Asianbuyers .... they thought they got them cheap," Robert Pignataro, of Strathfield Partners, said.
"We had 350 people there, minimum, and we were just going from house to house."
After the scuffle at one of the final auctions, Mr Briggs said three police officers arrived "within minutes" and soon called for back up. "A lot of the buyers were scared," he said. "Weended up having 12 police there and two detectives."
The auctioneer said a female police officer had stepped in after the main protester - who was there with six of his friends - again "went for the same staff member".
"Basically she got in between those two .... and she literally picked him up and threw him backwards".
Mr Briggs said that police evacuated two streets following the incident."They kicked everyone out as soon as the last auction finished - they removed everyone."
Mr Pignataro said he was selling the Federation homes on behalf of a private investor who had purchased all of them on November 21 from the Sydney Olympic Authority for $5.8million.
"And we resold all of them in less than a month for $10.5 million," Mr Pignataro said.
"We gave one a coat of paint and polished the floors and put some furniture in there - that was the extent of what we did."
He said that some of the tenants had been living in the houses for as long as 66 years in houses built for local abbatoir workers. "Some were prescribed lifetime tenancies," Mr Pignatorosaid.
"We are not looking at kicking any of them out - they can either stay [at the same rent] or opt to negotiate with us to receive a lump-sum cash settlement, which will be attractive."
Mr Briggs said he was happy to have achieved strong results for the properties. The three-bedroom Federation home at 14 Welfare Street that had been spruced up for the auctions sold for$200,000 above the reserve.
But he was annoyed that some of the tenants had turned violent. "They went to great length to interrupt the auctions and bring disrepute to the crowd," he said.
"They were screaming over the top of me saying we were being fraudulent."
Mr Briggs said that the main protester was holding up a piece of paper. "It was a photocopied piece of paper - it looked like it was from the 1960s or something - and he said it proved hehad bought this house for a couple of hundred dollars," he said.
"But I just boomed back that this gentleman's names were not on the contract and they had told me to sell."
Mr Pignatoro said that collectively, the properties went $1.4 million over the reserve. Some of the buyers had purchased more than one property.
Seven of the homes hadn't been lifetime tenancies and were people paying normal rents of about $500. They had already moved out. He said the unrenovated properties would rent out for$550 a week and the renovated homes up to $750 a week. "No problem - if we put them on the market, the next couple of days we will have tenants," he said.
Strathfield police said that none of the protesters had been arrested or charged with any offences. None of the protesters could be contacted for comment.
This story was found at: http://news.domain.com.au/domain/real-estate-news/homebush-auctions-turn-violent-20141223-12c8qu.html
Mayor slams approval for developmentTuesday, 20 May 2014 15:27 // Stay Inner West//
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Leichhardt Mayor Darcy Byrne has slammed the approval of a controversial Balmain housing
development at the former Nutrimetics site in Elliot Street, Balmain.
New South Wales Government appointed Joint Regional Planning Panel (JRPP) unanimously approvedthe Roche Group development recently despite the strong opposition of local residents and a 2012application being refused by the NSW Land and Environment Court.
The approved plans are for a mixed use development across eight buildings including 104 residentialunits.
“Despite supposedly making changes to the development application, this is still a very largedevelopment that will have a huge traffic impact on local streets that are already very congested,” CrByrne said.
“The State Government was elected on the specific promise of ‘returning planning control to localcommunities’, but in the case of this site, it has repeatedly done exactly the opposite.
“The Joint Regional Planning Panel (JRPP) is a State Government agency which our local communitydoes not control.
“The fact that we had to use $450,000 of ratepayers’ funds to defend the JRPP's previousdetermination in the Land and Environment Court because the State Government refused to defend itsown agency's ruling was a disgrace.”
Approved plans for 100102 Elliott Street include:
mixed use development including 8 buildings with ground floor commercial
19 serviced apartments and gymnasium as well as retail uses
104 residential units above basement parking for 251 vehicles
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It may have been Marrickville's only chance to share the limelight with Jackie Chan and Bruce Lee.
But amysterious proposal from a developer who has built two museums in honour of the martial arts greats has failed to be realised, after council rejected an ambitious offer to purchasethe old Marrickville Hospital site.
The genesis of the unsolicited $52 million bid was the topic of a lengthy debate at a council meeting this week, with some councillors raising concerns about how the offer was putforward.
The bid, which was not formally lodged by a Tuesday deadline, was voted down by all 12 councillors.
The council is in the middle of an expressions of interest process to build a long-awaited library and community hub at the site.
It is a far cry from the $52 million vision Maxma Developments Pty Ltd had in mind: a 110-room four-star hotel, an exhibition centre, 400 residential units and commercial premises of2000 square metres.
In a letter to council on February 6, a lawyer for Maxma Developments Pty Ltd director Xianhong Ma submitted the $52 million expression of interest for the site, explaining Mr Ma hadbeen "actively engaging in property developments in Foshan, China, for years".
In China, his development coups include the Bruce Lee Action Museum and the Jackie Chan Museum.
Greens councillor Max Phillips said it was concerning that "only select Labor and Liberal councillors were invited" to the initial meeting between the council and a representative for thedeveloper.
"There had never been any suggestion that council would do anything other than develop a library on the site," said fellow Greens councillor David Leary.
"We were in the middle of a process for that and so we shouldn't be deviating from that, we should be building this important community facility… this is why the site was purchased 20years ago from the state government."
Marrickville's mayor, Mark Gardiner, told Tuesday's council meeting that he took on board that all councillors should have been notified of the November meeting, but rejected anysuggestion of wrong doing.
"I do bristle at the suggestion that there was something improper," Cr Gardiner said.
Mr Ma burst onto Sydney's property scene in June last year, with a $3.7 million purchase of a property in Prestons, proposed for the construction of about 45 townhouses.
In an email chain tabled by the council, Marrickville Council lawyer Joe Strati requested a "personal guarantee or other alternative security...given the shelf nature of the purchaser".
Less than a year old, Maxma Developments Pty Ltd was incorporated on May 5 last year, and holds $100 in paid up capital.
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While the offer was ultimately rejected, Cr Gardiner said it was "certainly interesting and instructive to hear from a developer how much they think the site is worth".
He said this would better inform council of the "actual market value" when the formal tender process continues.
Marrickville Council intends for the site to include a library and community hub with adjoining open space, 60 underground car spaces, 4 per cent affordable housing and a residential andcommercial development.
Mr Ma could not be contacted through his solicitor on Friday.
This story was found at: http://www.smh.com.au/nsw/mysterious-52-million-bid-for-marrickville-old-hospital-site-rejected-20150323-1m3xbf.html
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Leesha McKennyPublished: March 24, 2015 - 9:05PM
Drastically reducing the number of NSW councils would carry an upfront cost of $445 million, the NSW parliamentary budget office has estimated.
However, the cost of cutting back the state's 152 councils to just 38 would be "significantly higher" if the mergers were forced, the briefing note said.
"It is assumed the council mergers would be voluntary, not forced, therefore any costs arising from legal challenges to or disputes about the merger have not been included," it said.
The costing, which was sought by Labor, assumes almost every merger put forward in 2013 by the Independent Local Government Review Panel was to go ahead instead of other optionsalso detailed in the panel's report, like joint organisations.
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The proposal to merge Botany Bay, the City of Sydney, Waverley, Randwick and Woollahra carried the highest upfront cost, at $37.6 million.
This figure was followed by $31.5 million to merge the inner-west councils of Marrickville, Ashfield, Burwood, Canada Bay, Leichhardt and Strathfield.
"IT and communications systems expenditure" was identified as the biggest cost, at 45 per cent, with employment transition costs put at about 20 per cent.
Labor's local government spokeswoman Sophie Cotsis seized on the figures as proof the Coalition's "Fit for the Future" reform package, which requires councils to consider voluntarymergers, was a "complete sham".
"The Liberals and Nationals' claim they are putting $258 million on the table to help councils merge – that is at least a $187 million shortfall of the true cost that has been confirmed by thePBO," Ms Cotsis said.
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The briefing note also estimated the net cost of the mergers to be $114 million, noting most of the savings "will continue to accrue over the long term".
"Many of the proposed mergers may have a net benefit under a long-term horizon," it said.
A spokeswoman for Local Government Minister Paul Toole said reducing 152 councils to 38 was "not our policy".
But the spokeswoman declined to rule out whether some councils would be forced to merge, should the Baird government be re-elected.
"We have asked councils to put forward a proposal on how they will become Fit for the Future and we have offered a package of incentives of up to $1 billion," she said.
The parliamentary budget office based the estimate on a 2009 review of the costings of mergers in Queensland, where 157 councils were reduced to 73.
The modelling also assumed 30 per cent of the costs were related to the size of the merging councils, and the expected complexity of each merger.
This story was found at: http://www.smh.com.au/nsw/nsw-state-election-2015-reducing-nsws-152-councils-to-38-would-cost-445-million-modelling-shows-20150324-1m6l6s.html
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Leesha McKennyPublished: March 24, 2015 - 9:05PM
Drastically reducing the number of NSW councils would carry an upfront cost of $445 million, the NSW parliamentary budget office has estimated.
However, the cost of cutting back the state's 152 councils to just 38 would be "significantly higher" if the mergers were forced, the briefing note said.
"It is assumed the council mergers would be voluntary, not forced, therefore any costs arising from legal challenges to or disputes about the merger have not been included," it said.
The costing, which was sought by Labor, assumes almost every merger put forward in 2013 by the Independent Local Government Review Panel was to go ahead instead of other optionsalso detailed in the panel's report, like joint organisations.
Print Article: NSW state election 2015: Reducing NSW's 152 councils to 38 would cost $445 mi... http://www.smh.com.au/action/printArticle?id=97725124
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The proposal to merge Botany Bay, the City of Sydney, Waverley, Randwick and Woollahra carried the highest upfront cost, at $37.6 million.
This figure was followed by $31.5 million to merge the inner-west councils of Marrickville, Ashfield, Burwood, Canada Bay, Leichhardt and Strathfield.
"IT and communications systems expenditure" was identified as the biggest cost, at 45 per cent, with employment transition costs put at about 20 per cent.
Labor's local government spokeswoman Sophie Cotsis seized on the figures as proof the Coalition's "Fit for the Future" reform package, which requires councils to consider voluntarymergers, was a "complete sham".
"The Liberals and Nationals' claim they are putting $258 million on the table to help councils merge – that is at least a $187 million shortfall of the true cost that has been confirmed by thePBO," Ms Cotsis said.
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The briefing note also estimated the net cost of the mergers to be $114 million, noting most of the savings "will continue to accrue over the long term".
"Many of the proposed mergers may have a net benefit under a long-term horizon," it said.
A spokeswoman for Local Government Minister Paul Toole said reducing 152 councils to 38 was "not our policy".
But the spokeswoman declined to rule out whether some councils would be forced to merge, should the Baird government be re-elected.
"We have asked councils to put forward a proposal on how they will become Fit for the Future and we have offered a package of incentives of up to $1 billion," she said.
The parliamentary budget office based the estimate on a 2009 review of the costings of mergers in Queensland, where 157 councils were reduced to 73.
The modelling also assumed 30 per cent of the costs were related to the size of the merging councils, and the expected complexity of each merger.
This story was found at: http://www.smh.com.au/nsw/nsw-state-election-2015-reducing-nsws-152-councils-to-38-would-cost-445-million-modelling-shows-20150324-1m6l6s.html
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Melanie KembreyPublished: June 10, 2015 - 6:07PM
A light rail route linking Parramatta and Strathfield via Sydney Olympic Park would be a "white elephant" passing through "wastelands",according to Parramatta's Liberal lord mayor Scott Lloyd.
Parramatta Council has ramped up its campaign to have its preferred route for the $1 billion light rail network built amid concerns that thestate government is leaning towards the Strathfield option.
The council is lobbying for a route from Westmead to Epping via Carlingford, a shorter version of one of the four routes being consideredfor construction.
The four routes are: Parramatta to Macquarie Park via Carlingford and Epping, Parramatta to Castle Hill via Old NorthernRoad, Parramatta to Bankstown, Parramatta to Strathfield/Burwood via Sydney Olympic Park.
The liberal dominated Parramatta Council has unanimously agreed to write to Premier Mike Baird and Transport Minister AndrewConstance to express concerns that a Strathfield tram would be unused and financially unviable.
The proposed Westmead to Epping route would link the Westmead health precinct, the Parramatta CBD and the University of WesternSydney's two city campuses. It would use the existing Carlingford rail line and would form a spine off which extensions to Macquarie Park,Castle Hill and Olympic Park could later be built.
Cr Lloyd said while the Strathfield route would connect areas earmarked for growth, such as the industrial Camellia precinct, it would beseveral years before such development occurred and "bums on seats" should be the priority of the first route.
"We have serious concerns that passenger numbers would not be sufficient to sustain the Strathfield via Olympic Park route as the firstphase of the project, potentially jeopardising its expansion," Cr Lloyd said.
"You don't want to have a white elephant...How many empty trams will be going through the wastelands of Camellia not seeing a house orunit or anything for the next seven years?"
The Western Sydney Regional Organisation of Councils has also spoken out against the Strathfield route, saying the state governmentshould consider "residents over the voice of investors".
"We have a backlog of public transport need in western Sydney, and catering for potential future development rather than existingcommuter need is irresponsible," president Tony Hadchiti said
A coalition of big businesses has formed the West Line Partnership, which has been lobbying hard for the Strathfield via Sydney OlympicPark route.
Partnership spokesman Chris Brown criticised western Sydney representatives for pushing for a single route, saying they should have"more ambition".
"We're not going to be part of the zero sum game of bidding against each other," he said.
"The representatives of Western Sydney should have more ambition for western Sydney. We believe in two extension lines – one toCarlingford along the train line and one to Sydney Olympic Park. Western Sydney shouldn't have to pick one."
The Sydney Olympic Park route could partially "pay for itself" through developers entering "voluntary planning arrangements" and the linewould activate growth in a pivotal and underused Sydney corridor, Mr Brown said.
A spokesman for Mr Constance said no decision had been made about the route.
"We are continuing to investigate four shortlisted options for a new light rail network in western Sydney. This includes consideration of aroute to Sydney Olympic Park and Strathfield. The NSW Government will have more to say as this work progresses," he said.
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The state government has previously said construction of the chosen route would start in its second term.
This story was found at: http://www.smh.com.au/nsw/parramatta-light-rail-sydney-olympic-park-tram-would-be-a-white-elephant-20150610-ghkta0.html
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Melanie KembreyPublished: September 22, 2015 - 5:07PM
NSW Planning Minister Rob Stokes has declared Sydney's "urban sprawl is over" at the same time as he unveiled plans to release enoughland for the construction of 35,000 new homes south of Campbelltown on Tuesday.
But urban planners and the state opposition immediately seized on the apparent contradiction, saying residents in the new communities,which are as far away from the Sydney CBD as 80 kilometres, could be stuck spending hours every day commuting.
The 7700 hectares to be released by the government will see communities built at Menangle Park and Mount Gilead on the outskirts ofCampbelltown, and a new Bathurst-sized town about 20 kilometres further south to be called Wilton Junction.
Mr Stokes insisted, however, that existing transport networks would not be strained as the 100,000 people expected to live in the newcommunities would work at the nearby regional centres of Campbelltown and Wollongong.
"We are declaring that urban sprawl is over. Instead Greenfield releases are going to be focused on supplying that infrastructure and thosejobs locally so people won't be locked into vast commutes over vast areas," Mr Stokes said.
"Sydney is too big to allow commuting to continue what we need to do is provide the jobs closer to where homes are."
Mr Stokes said Wilton Junction would become the fifth largest regional city in NSW and there was no suggestion it would "ever form partof Sydney physically".
But University of Sydney urban planning professor Peter Phibbs said this was "urban sprawl plus" and while additional housing supply wasa positive, south western Sydney had long struggled to attract jobs so new residents could be forced into lengthy commutes on road andtrain networks already operating at capacity.
"Unless there is some remarkable turnaround or huge public investment, recent history would suggest those areas are not very good atgenerating employment growth," Professor Phibbs said.
"We know people in western Sydney travel long distances so unless their behaviour changes markedly at least some of those people will bespending a lot of time connecting up with services and employments in other areas."
The Sydney Business Chamber's western Sydney director David Borger said Campbelltown was a weak job provider and there needed tobe more government investment in the suburb if the plan was to be successful.
Minister Stokes said the new communities would help meet Sydney's need for more homes and put downward pressure on prices. The threecommunities will be created over the next 30 years, with the first houses to be built in in Mount Gilead within the next two years.
There would be potential job opportunities arising, Mr Stokes said, in Campbelltown's health and tertiary education sectors, the airport atBadgerys Creek and "emerging industries" in the Illawara and the Macarthur regions.
"The great things about these areas is they are located between so many choices of regional centres that can be destinations for investmentand for jobs," he said.
"The fact of this development pipeline itself will create many thousands of new jobs in this area."
The infrastructure needs, the minister said, would be delivered in step with the provision of the new houses.
He said investigations would take place into upgrading local and regional roads, adding additional rail capacity, bus services and healthfacilities and constructing new high schools and primary schools.
NSW Opposition leader Luke Foley said it was "poor planning" to continue building on the outskirts of Sydney without a ready supply ofjobs.
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"We're talking about a region of Sydney that will grow in population by half a million people yet we're talking about jobs growth of 20,000– that means more and more people travelling 70 kilometres to the Sydney CBD day and night," Mr Foley said
"Simply rolling out more supply won't solve the housing affordability crisis for Sydney. More supply is part of the answer, but thisGovernment has a blind faith in market solutions."
The vision for area is contained in the government's Preliminary Strategy and Action Plan for the Greater Macarthur Land Release Area.
It will be on public exhibition until November 4 after which the government will form a more detailed plan for the area.
This story was found at: http://www.smh.com.au/nsw/planning-minister-rob-stokes-unveils-plans-to-create-three-new-communities-south-of-campbelltown-20150922-gjs8ev.html
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Jacob SaulwickPublished: October 22, 2015 - 4:44PM
Glebe Island Bridge could be re-opened as a tram line and Wentworth Park redeveloped as part of the government's massive proposedoverhaul of inner harbour areas in Sydney's west.
But a "transformation plan" for Sydney's Bays Precinct, released on Thursday by Premier Mike Baird and Planning Minister Rob Stokes,was otherwise light on detail about what new public transport or housing would be included in the area.
"It is difficult to really imagine how big the opportunity here is," Mr Stokes said. "It's the last remaining large development site for renewalanywhere on Sydney Harbour ... to put it in perspective, Barangaroo is around 20 hectares, this site is more than 90 hectares," he said.
For the past 18 months, government development agency UrbanGrowth NSW has been working on proposals to re-shape the area, whichincludes parts of Glebe, Rozelle, White Bay and the Sydney Fish Market.
The agency's report, released on Thursday, maps out 20 to 30 years of redevelopment, focusing initially on the White Bay Power Station atRozelle, as well as areas around the Fish Market.
"We have all driven past this site for many years, wondering if something could be done; well, today we are making it happen," Mr Bairdsaid at the power station.
The Premier's plan is for the power station, built in 1912, to be converted into a high-tech business hub, though he did not spell out specificmeasures to attract businesses.
The Fish Market is intended to become a "market precinct", and a request for proposals from the private sector will be released early nextyear.
Mr Stokes also announced that the redevelopment plans would include the adjacent Wentworth Park, though that park was expected toremain as public space.
"Obviously Wentworth Park is a crucial piece of the city's open space," Mr Constance said. "It's very important that as we undertake theplanning for Wentworth Park, we look at those recreation opportunities and how to ... link in Wentworth park to the adjacent waterfront andthe Bays market district," he said.
But the report released by Mr Baird and Mr Stokes did not address how to improve transport access, nor where or how much new housingwould be developed. The chief executive of UrbanGrowth NSW, David Pitchford, has previously said the precinct would be a "disaster"without major new public transport.
Mr Stokes said housing and transport plans would be released early next year. "That work is currently underway with ... Transport forNSW and all options are being looked at, from mass transit options, from light rail to ferries, to cycling and pedestrian pathways as well asprivate vehicle movements," he said.
But artist's impressions released on Thursday include images of trams on the old Glebe Island Bridge. The Roads Minister, Duncan Gay,had previously raised the idea of demolishing the structure.
Labor leader Luke Foley and the Labor mayor of Leichhardt, Darcy Byrne, called for an investigation of metro rail to the area.
"With the sheer grandiose scale of what they've been proposing ... that's the sort of thing that can only sort of work with fast undergroundrail," Cr Byrne said.
"None of this will work without significant mass transit," said Cr Byrne, who said the precinct risked being "Chatswood by the sea" if it didnot have a mass transport system.
Mr Pitchford said the request for proposals to redevelop White Bay Power Station, to be released next week, would not include a mandateon whether to use the existing structure.
But he said he expected proponents would want to re-use the building, while they would also be required to incorporate historic machineryinto their development plans.
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"We will require an honouring of the history of it," he said.
"Structurally it is very sound," he said of the building itself. "We are not looking to interfere with the integrity of the structure, but we areopen to suggestions as to how the structure might be used as a platform to do things differently," he said.
This story was found at: http://www.smh.com.au/nsw/return-of-trams-to-glebe-island-bridge-floated-in-inner-harbour-overhaul-20151022-gkfq5l.html
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Melanie KembreyPublished: September 14, 2015 - 11:23AM
High-rise plans move forward in two Sydney suburbsPublic transport at Wentworth Point will ease traffic woes: developer
The suburb of Wentworth Point stacks up well on paper: waterfront views, surrounded by parklands, located at the centre of metropolitanSydney.
There is just one problem. Residents say getting in and out can be a nightmare – and they are worried it is about to get a whole lot worse.
In the next three years, construction will start on another 2500 apartments on the peninsula, which is expected to become home to morethan 20,000 people in the next 15 years.
But the lone road in and out of the peninsula, locals say, already struggles to cope with demand.
"They have managed to create a place that basically has got really bad road access and they have put stacks of people there and theywonder 'why there is a problem?' " said University of Sydney urban planning professor Peter Phibbs.
Professor Phibbs said the government had failed "planning 101" in overestimating the capacity of the peninsula. Thedevelopment represented an "own goal" for the government as it provided an argument for anti-density campaigners.
"We're trying to get the public more interested in density and here we've got a government-led scheme that just provides ammunition forthe density haters who are going to say that density induces congestion," he said.
The road networks around the growing Homebush Bay and Sydney Olympic Park also clog during peak times, with residents reportingthat it can take them more than half an hour to pass through the Australia Avenue/DFO Homebush roundabout.
Wentworth Point currently only has one bus service, the 526, which often runs late and can take 45 minutes to reach Strathfield station, lessthan 10 kilometres away.
Two high-density residential neighbourhoods, including a primary school, shops and plaza, are set to be be built on waterfront sites at thetip of the Wentworth Point peninsula.
A spokesperson for UrbanGrowth NSW, the government's property development arm, said it would be two to three years beforeconstruction on the first apartments started and this was ample time to complete infrastructure upgrades.
An artist's impression of what the new development at Wentworth Point could look like. Photo: UrbanGrowth NSW
A bridge designed for buses, cyclists and pedestrians, which was funded by developers in exchange for uplift, is under construction andwill soon put Wentworth Point residents within about one kilometre of Rhodes station.
However, the T1 Northern Line via Strathfield is already crowded and, on average, has 135 per cent passenger loads by the time it reachesRedfern during the morning peak.
The M4 widening as part of the WestConnex motorway project will also provide residents new access to the M4 eastbound from Hill Roadin Sydney Olympic Park, although there will be no westbound exit.
Wentworth Point Community Central member John Spooner said the government had created Wentworth Point "back to front".
"We all understand that people have to live somewhere and for people to live somewhere developers have to develop," he said. "Thedevelopers seem to be able to get on with it, but the government doesn't seem to be able to help with the infrastructure."
In a statement, Planning Minister Rob Stokes said the area was ideal for a new community.
"We have undertaken extensive community consultation, and ensured the precinct will have good access to public transport, jobs, a newschool, services and open space, in keeping with best-practice planning," the minister said.
This story was found at: http://www.smh.com.au/nsw/nsw-planning-sydney-suburb-wentworth-points-traffic-trap-fuels-density-haters-20150914-gjhcrj.html
Jacob SaulwickPublished: September 11, 2015 - 5:16PM
When Dora Makaritis realised the route of the WestConnex motorway would run under the inner west suburb of Croydon, she immediatelybecame concerned about the impact of digging a six-lane tunnel under her home.
So she asked the WestConnex Delivery Authority, multiple times, why the motorway would run under her suburb and not 300 metres northunder Parramatta Road.
And she was told, multiple times, it had nothing to do with potential property development.
"We were told a couple of things," said Ms Makaritis. "One of them was that you could not travel 80 kilometres an hour under that[Parramatta Road] route," she said. "The route had to be a straight line, and not a zig zag."
But she said none of the reasons offered at multiple WestConnex information nights related to preserving Parramatta Road for futureproperty development.
So Ms Makaritis felt betrayed this week when, reading the Environmental Impact Statement for the M4 East tunnel component ofWestConnex, she saw two reasons listed for why the motorway should not run under Parramatta Road.
"Tunnels below Parramatta Road would restrict the depths to which buildings could be constructed, in particular basements or footings fortaller buildings," the EIS says. "This would restrict opportunities for urban revitalisation and improved liveability along and aroundParramatta Road."
As well as Ms Makaritis and her neighbour Tarja Shephard, Labor's roads spokeswoman and Member for Strathfield Jodi McKay said shealso feels misled by this aspect of the WestConnex project.
"I was told numerous times by the WDA that the reason for avoiding Parramatta Road had nothing to do with development," Ms McKaysaid. "They were categorical."
Ms Makaritis and Ms Shephard are concerned about the impact of construction below their properties. They are worried about the noiseand vibration of underground drilling. "Our old federation homes are worthy of historical value and preservation," Ms Shephardsaid. "They have shallow footings, are very fragile and with crumbling lime mortar."
A spokeswoman for the WestConnex Delivery Authority said the route south of Parramatta Road was chosen because of its shorter tunnellength, ground conditions, and alignment with proposed later sections of the motorway.
The spokeswoman said the chosen alignment had the "potential benefit" of preserving "the Parramatta Road corridor for future urbanrenewal" but this was "not the reason it was selected".
The state government has delayed plans for the development of Parramatta Road. A consultation process on a new plan, however, isscheduled to start within the next few weeks.
"This was also made clear by the project team in both community meetings," the spokeswoman said.
This story was found at: http://www.smh.com.au/nsw/the-hidden-reason-westconnex-runs-near-not-under-parramatta-road-20150911-gjklmi.html
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