How the City of Sydney’s new zoning plan affects commercial property: Knight Frank

How the City of Sydney’s new zoning plan affects commercial property: Knight Frank
How the City of Sydney’s new zoning plan affects commercial property: Knight Frank

A new zoning plan and planning controls for much of the City of Sydney’s employment lands has been endorsed by the council for exhibition. This covers much land currently zoned for business or industrial purposes.

Some industrial areas are expected to be retained for traditional uses, while other zones are to be introduced or expanded. This includes a B6 Enterprise Corridor zone to add to the B7 Business Park zone.

Knight Frank’s manager of town planning for Sydney, David Workman, said that the proposed changes are extensive and it is crucial to be aware of the implications on an individual property basis.

“A small change can often make a significant difference either positive or negative, particularly in terms the type of development permitted within a new zone and at what density,” Workman said.

The report that had been prepared for the Council included the following proposed changes:

  • A core industrial zone in the South West part that will continue to accommodate ‘traditional industrial’ uses;
  • A flexible enterprise corridor zone through the centre part that will accommodate lower density industrial and commercial uses; and
  • Business park zones in the North West and South East parts that are close to transport, services and amenities and that will provide for denser commercial activity over time.

Source: Knight Frank

It’s noted that private residential development will be restricted on the employment lands, with the exception of a Botany Road section that currently permits shop-top housing and senior housing.

Affordable housing opportunities may also be provided for.

Daniel O’Brien, Knight Frank South Sydney agency director, said that the rezoning for some of those currently zoned IN1 General Industrial means good things with the potential for higher order commercial uses than currently allowed. He also noted that it’s expected to drive employment, and therefore commercial development.

“The trend for older industrial style buildings, to be regenerated into funky office space will only gather more pace and as long as the current demand for this type of office accommodation remains strong, it will be a win:win for developers, tenants and occupiers and building owners,” Mr O’Brien said.

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

Tags: 
Commercial Sydney Zoning

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