Spotlight on amenity for Melbourne's CBD
New Central City Built Form Controls (Amendment C270) were announced by the State Government this week following a lengthy independent panel process, at which the Property Council appeared. The Panel’s final Report can be found here.
The Government’s announcement which includes plot ratios of 18:1 and prescriptive setbacks will help lift overall amenity. As outlined in the Property Council’s submission, The Australian ($) and the Herald Sun ($), we remain concerned about the impact of the policy on commercial development in the CBD. Only 87,768sqm of new stock is due to enter the market this year and none is forecast for 2017.
The Property Council will continue to work closely with the Government on boosting investment opportunities in the CBD to help deliver jobs, investment certainty and economic activity.