Development sites prices fall dramatically in Melbourne
Submitted over 1 year ago by Alan Barry
Commercialrealestate.com.au reports a price fall in development sites across Melbourne. Is this true in Sydney? Time will tell, but for now there is still a demand for risky development sites in some areas such as Macquarie Park where developers are speculating on zoning changes occurring in the next 12 months.
At a recent meeting arranged by the NSW department of planning where Malcolm McDonald of the department introduced ARUP as the town planning consultants who are studying the Macquarie Park precinct, he made it clear that there would be no zoning changes as an outcome of the study. He did not rule out that planning changes could occur subsequent to the study.
It is known that major developers such as Holdmark, Stockland amd Walker are speculating that properties currently zoned B7 Business Park in Talavera Road and Byfield Street would be candidates for becoming mixed business or residential zoned sites.
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