Property Council calls for Government and industry to work together on Fisherman’s Bend

The Property Council has today called for the Government to immediately consult with industry on the recent announcement by the Minister for Planning to call in 26 development applications at Fisherman’s Bend, ahead of this year’s state election.

Political and Parliamentary intervention in planning, property and infrastructure without proper consultation does nothing for the community, and damages investor confidence. Interventions from all sides of politics are part of a worrying trend. It’s time for certainty.

“Fisherman’s Bend has enormous potential. The Minister has his reasons for this announcement but, sadly, a continuing policy pendulum means that after years of talk we appear no closer than ever to achieving serious progress,” said Deputy Executive Director, Matthew Kandelaars.

The Property Council acknowledges and supports the need for a well-designed, sustainable and liveable precinct, and we agree with the Minister’s desire to achieve the right balance. However, outcomes will only be achieved when the blame game ends and a line in the sand is drawn. Only then, will jobs and investment begin, and homes finally be constructed to boost supply and help affordability.

“The private sector needs certainty and confidence to invest and to risk its own capital to develop a world-class precinct. Instead, we are at serious risk of missing the opportunity to finally see the project advance,” said Mr Kandelaars.

The most immediate and critical issues to be addressed at Fisherman’s Bend include the finalisation of detailed transport plans that include funding models and timeframes, as well as the establishment of a clear governance model for the implementation and oversight of this major project.

All parties must put politics aside, partner with industry and finally back a considered vision for Fisherman’s Bend, to maximise its full potential.

Media contact: Matthew Kandelaars | M 0416 443 555 |  E mkandelaars@propertycouncil.com.au