Development at risk in Hobart
New analysis commissioned by the Property Council shows that height limits will be a handbrake on development in Hobart.
The analysis released today was conducted by respected consultants SGS Economics and Planning. It modelled the potential return on investment for hypothetical developments in three locations in Hobart. Each location was assessed to see what the return on investment would be for commercial, hotel and residential developments at each site.
Property Council of Australia Tasmanian Division Executive Director, Brian Wightman, said that in every scenario considered, reducing building heights would effectively stop all commercial, residential and hotel developments at the three sites.
“This modelling shows that if building heights are reduced, significant development at these three sites may not be possible. The broader implication is that other sites in Hobart may be affected in similar ways, which could act like a handbrake on future development opportunities,” Mr Wightman said.
A copy of the SGS Report can be viewed here .