A Property Valuation is an Important Component of a Real Estate Transaction
COMMERCIAL ZONING REFORMS (VICTORIA):
As at July 1st 2013, there has been a substantial restructure of Victoria’s Commercial planning zones by the state Government. The new commercial zones will offer more flexibility that is needed to support a range of commercial demands.
CURRENT FORTHCOMING
Commercial 1 Zone (C1Z)
The Commercial 1 Zone will replace the existing Business 1, 2 and 5 zones.
Implementation of the C1Z will increase the range of activities on included land whilst omitting the need for a planning permit. In effect, this will create more vibrant mixed use commercial centres for retail, office, business, entertainment an d high density residential uses. Some of the fundamental characteristics of this zoning include:
– Removal of permit requirements for retail uses including supermarket
– No office floor space caps in Metropolitan Melbourne
– Removal of permit requirements for accommodation uses (subject to satisfying a 2 metre frontage condition)
– Office and residential uses (first floor and above) can co-exist ‘as of right’ within the same building (major benefit to existing B5 zone land)
Commercial 2 Zone (C2Z)
The Commercial 2 Zone will replace the existing Business 3 and 4 zones.
The Department of Planning and Community states that the new C2Z will promote ‘more opportunities for office, commercial business, restricted retail premises, trade supplies and some limited retail activity’. The new zone will allow:
– A small format supermarket up to 1,800 square metres in metropolitan Melbourne, without a permit
– Removal of office and retail floor space caps in many instances, to create new opportunities for office and retail growth
– Bulky Goods premises and Trade Supplies will be an ‘as of right’ use
We anticipate that the pending changes will be of a direct benefit or allow you to recognise greater potential from market opportunities. We would suggest Town Planning matters be confirmed by the relevant professional advisors.
For more information please contact us
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