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Canada Bay Final Report 2016 V2

Southern Alliance Valuation Services Pty Ltd – Canada Bay Final Report – BD 1 July 2016 of 58

FINAL REPORT

GENERAL VALUATION & LAND TAX VALUATION PROGRAM

DISTRICT 139 – CANADA BAY

BASE DATE - 1 JULY 2016

Prepared by

SOUTHERN ALLIANCE VALUATION SERVICES PTY LTD

Canada Bay Final Report 2016 V2 __________________________________________________________________________________________________________________


TABLE OF CONTENTS

EXECUTIVE SUMMARY ........................................................................................................... 3

1.0 GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA .................................. 7

2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES ...................................... 10

3.0 TOWN PLANNING & ZONING INSTRUMENTS. ......................................................... 14

4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS. ............................ 24

5.0 ADDED VALUE OF IMPROVEMENTS .......................................................................... 29

6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS. ............................................................................................... 33

7.0 MARKET COMMENTARY: .............................................................................................. 39

8.0 VERIFICATION: ................................................................................................................. 46

9.0 MANAGEMENT OF COMPONENTS, HANDCRAFTING & VERIFICATION ........ 47

10.0 QUALITY ASSURANCE ................................................................................................... 48

INCLUSION: Annexure ‘A’ - Canada Bay DA Register Annexure ‘B’ - Paired Sales Analysis Annexure ‘C’ - Canada Bay Analysed Sales List Annexure ‘D’ - News Articles



EXECUTIVE SUMMARY

All properties in NSW are valued each year for rating and taxing purposes. All valuations are issued to the Office of State Venue for land tax purposes. Valuations are also issued to councils either each year or every 2nd, 3rd or 4th year. This report details the land valuation programme for the Canada Bay Local Government Area (LGA). The majority of values are determined using mass valuation techniques. The Valuer-General’s mass valuation system is applied as follows:

1) Properties that react to market forces in a similar way are grouped together in a component, AND

2) The existing values of those properties in a component are updated by a market-based factor that is then used as a multiplier of the prior Land Value. The result is then checked by the Contract Valuer and individually verified values applied as appropriate. The use of mass valuation techniques does have limitations, particularly over a period of time. The continued application of factors may lead to a distortion in the relativity of values within a geographical area. Some types of properties are so few in number or likely to be so sensitive to localised changes that individually verified values is the only appropriate method. Although a mass valuation system is used to determine the majority of land values, the Valuation of Land Act requires that each land value be a market value. Each land value must be capable of being tested and supported on its own against all available market evidence. The total number of valuation entries (as at 31/10/2016) within Canada Bay LGA – 18,228. The sum of land values in dollars (as at 31/10/2016) within Canada Bay LGA - $28,588,913,301. The last local government base date or year when the valuation notice was issued was for Base Date 1st July 2015. The total land value for Local Government Base Date 1st July 2015 was $24,340,643,681 which represents a percentage change of 17.5%. The change in values reflects a substantial increase in the movement of land values within the Canada Bay LGA particularly for residential property based on market sales evidence. The number of desirable properties including: water/city skyline view properties; the amount of underdeveloped sites; the increasing rental returns on residential investment property based on their accessibility to the city, transport options and other facilities and amenities; the demographics of the area in general, demand out stripping supply and low interest rates are all underlying reasons that have assisted the increase in land values over the past year.



EXECUTIVE SUMMARY (Continued) Residential – The residential market within the Canada Bay LGA, as at 1st July 2016, increased in line with some other inner-city and inner-west suburbs of Sydney within a range of 5 - 15 kilometres of the CBD. Residential lands, depending on locality, moved within a band of 9% to 79% between Base Date 1 July 2015 and 1 July 2016 with the majority averaging increases of around 20%. Waterfront property and property with water views experienced increases from the previous reporting year, with increases of between 8 - 26%. Single residential sites at Breakfast Point and in parts of Drummoyne (Prime Suburbs) – in particular Abbotsford, generally experienced increases of between 19 - 25%; Property East and West of Victoria Road Drummoyne showed steady increase from the previous reporting year, with increases of around 15 - 25%. From analysis, the localities which showed the greatest increases were those in the western part of the municipality, in particular Rhodes East affected by the release of Rhodes East Priority Precinct and Concord West. Overall a limited supply of property for sale and the low interest rates, helped to maintain the strong growth in the residential sector across the Canada Bay LGA. Commercial / Retail – The retail/commercial property market within Canada Bay LGA over the prior general valuation program has increased which has been supported by low vacancy rates and steady rental growth. Limited supply of quality sites available for sale has helped maintain the strong growth in this sector, particularly for commercial property in the Rhodes Business Park precinct and commercial and mixed use property in the Rhodes Town Centre. Several sales of retail and mixed use sites were recorded during the 12 month period ending 1st July 2016, reflecting a buoyant market in some centres. Retail sales in Five Dock and along Majors Bay Road in Concord indicated strong increase and as well as several sales along Victoria Road Drummoyne, helped support steady to moderate increases for commercial sites across the Canada Bay LGA. Industrial – The industrial property market within the Canada Bay LGA during the reporting year to 01/07/2016 has increased over the past 12 months. The trend can be explained by several factors including,

the significant ongoing improvements that have been made to Sydney’s metropolitan transport infrastructure within Canada Bay Local Government Area, particularly the WestConnex project.

the shortage of industrial property within the heavily populated areas of the Canada Bay Local Government Area and reasonable distance from Sydney Airport and Port Botany.

rezoning proposals including the revitalisation of the Rhodes East Precinct and the Parramatta Rd Corridor Urban Transformation Strategy.

The Canada Bay Industrial market is located within close proximity to the M4 Motorway which connects with the Sydney Orbital Network (M1, M2, M4 M5 and the M7). This has provided the area with direct access form Sydney’s port and airport to all major warehousing and industrial hubs in the South West, Western and North West precincts.



EXECUTIVE SUMMARY (Continued)

The strongest performing industrial area in the Canada Bay LGA was the industrial precinct around Rhodes, whilst Average Industrial sites (1,000 to 4,000m) in Five Dock also showed increases over the last reporting year. Industrial sales evidence suggests an overall increase over the year ending 1st July 2016.

Evidence investigated suggests that rental markets during the year remain extremely tight with undersupply leading to unprecedented vacancy factors for residential property. Similarly, though the overall quantum of sales transactions increased marginally, due to increased first home buyer activity and increased activity by developers and investors alike, the demand for housing in the Canada Bay LGA remained high. Hence in the short to medium term value levels are expected to hold.



TABLE OF TYPICAL VALUES

RE

SID

EN

TIA

L

Location Component Code Size (sqm) 2015 LV 2016 LV & % change from

2014 Rhodes EAA 689 $797,000 $1,600,000

+200.8% Concord (north) ECC 602 $1,050,000 $1,160,000

+10.5% Concord (east) EKK 560 $1,090,000 $1,310,000

+20.2% Concord (central) ESS 449 $988,000 $1,180,000

+19.4% Cabarita

(waterfront) EWW 670 $2,570,000 $3,260,000

+40.9% Drummoyne RFD 708 $2,040,000 $2,350,000

+15.2% Abbotsford RPD 696 $1,540,000 $1,850,000

+20.1% Five Dock RSS 519 $977,000 $1,120,000

+14.6% Drummoyne (water

view) RVV 797 $3,570,000 $4,240,000

+18.8% Five Dock

(water view) RVV 676 $2,230,000 $2,640,000

+18.4% Drummoyne (waterfront)

RDW 878 $4,330,000 $4,940,000 +14.1%

BU

SIN

ES

S

Victoria Rd (commercial)

CVM 1,500 $7,210,000 $7,400,000 +2.6%

Great North Rd (retail)

SFF 215 $1,200,000 $1,400,000 +16.7%

Majors Bay Rd (retail)

CAA 183 $1,100,000 $1,360,000 +23.6%

Parramatta Rd SBB 2,375 $5,000,000 $6,540,000 30.8%

IND

US

TR

IAL

Five Dock DSS 481 $625,000 $808,000 +29.3%

Five Dock / Rhodes DAA 1,618 $1,820,000 $3,460,000 90.1%

Parramatta Rd DPP 2,573 $2,800,000 $3,500,000 +25.0%

George Veris Burwood Area Manager Southern Alliance Valuation Services Pty ltd



FINAL REPORT

DISTRICT (139) – CANADA BAY

1.0 GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA

The City of Canada Bay Council (LGA) was proclaimed on 1 December 2000 and was formed through an amalgamation of the former Concord & Drummoyne Councils. Canada Bay Local Government Area (LGA) is situated in the inner west of Sydney approximately six (6) kilometres from the Sydney CBD. Canada Bay LGA otherwise known as Canada Bay City Council stretches approximately eight (8) kilometres from Concord West at its most western extremity to Drummoyne at its most eastern point. The municipality of Canada Bay covers an area of 19.9 square kilometres and is bounded by the LGA’s of Auburn & Strathfield to its West, Strathfield, Burwood & Ashfield to its south, the confluence of Iron Cove and Parramatta Rivers along with its many bays to its east and Parramatta River and its many bays to its north. The municipality is linked to the LGA’s of Hunters Hill and Ryde to its north by Gladesville/Tarban Creek and Ryde Bridges respectively. The municipality of Canada Bay incorporates the all or parts of the suburbs of Abbotsford, Breakfast Point, Cabarita, Canada Bay, Chiswick, Concord, Concord West, Five Dock, Drummoyne, Liberty Grove, Mortlake, North Strathfield, Rhodes, Rodd Point, Russell Lea, Strathfield and Wareemba. The municipality of Canada Bay has over 130 parks and reserves, which total 232.1 hectares or 15.3% of the area, and many kilometres of accessible public foreshore.



1.0 GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA (continued)

Canada Bay has a population of approximately 80,065 occupants (Census 2011) and comprises predominately residential development which has been steadily increasing over the past ten years. This increase can be attributed to redundant industrial sites around Abbotsford, Breakfast Point, Cabarita, Liberty Grove and Rhodes which have been redeveloped to residential use. The City of Canada Bay has a vast number of waterfront properties, most notably in the areas of Rhodes, Concord, Mortlake, Breakfast Point, Cabarita, Canada Bay, Abbotsford, Chiswick and Drummoyne.

Getting to and around the Canada Bay municipality area is generally through a large network of roads. Major routes in the municipality of Canada Bay include:

Lyons Road/Lyons Road West/Crane Street which runs through the centre of the municipality in a generally east/west direction and offers access to most suburbs within the district.

Queens Road/Gipps St/Patterson Road which runs parallel to Lyons Road West/Crane Street in an east/west direction offers an alternative route through the centre of some of the southern part of the municipality.

Linking onto Crane St and running in a north/south direction is Majors Bay Road which offers access to areas west of Hen & Chicken Bay.

Concord Road which runs through the western side of the municipality in a north/south direction and provides access through to Rhodes and further north;

Great North Road running in a north/south direction and offering access through suburbs east of Hen & Chicken Bay from Five Dock to Abbotsford and Chiswick.

Some of the significant local, Sydney and State features of the municipality include:

Dame Eadith Walker & Concord General Hospital; Concord Golf Course; Iron Cove Bay Run; Kokoda Track Memorial Walkway Drummoyne Olympic Pool; Yaralla Estate; Majors Bay Reserve; Majors Bay Rd Shopping; Birkenhead & Rhodes Shopping Centres.

A summary of the major land uses follows:

RESIDENTIAL: The municipality of Canada Bay has a variety of housing types covering different eras from c.1880 through to the present. However, large scale habitation of the area occurred much later and coincided generally with the introduction of the railways in the late 1800’s through adjoining areas to the south and resulted in nodes of development around the numerous main roads leading from these railway stations. Development comprising initially of Federation development and then followed consecutively in time by Californian Bungalows, post war fibro and austere brick dwellings gradually fanned out and in filled from these railway stations and main roads. Canada Bay experienced its greatest period of development in the east (Drummoyne/Five Dock) during the inter war period and in the west (Concord) mainly during the late inter war period.



1.0 GENERAL DESCRIPTION OF LOCAL GOVERNMENT AREA (Continued) Density development comprising two and three storey strata titled blocks of flats was a relatively late phenomenon in Canada Bay and did not take hold for a number of reasons til the 1980’s when planning changes, rising land values and demand for this type of development brought about largely by a change in demographics encouraged this form of development. The introduction of Urban Renewal and Consolidation planning principles, increases in the value of property and market tastes led in the 1990’s and 2000’s to large urban renewal projects of older waterfront sites to mainly high density development. Street development in the majority of areas followed a mainly right angle grid pattern except where the terrain or landform, i.e. river, ridge, gully, or older main road precluded this rigid street design. Some areas such as Drummoyne, Chiswick, Abbottsford and Mortlake which are generally steeper than the rest of the municipality have developed street patterns incorporating curved design with shorter, narrower and dead-end roads.

COMMERCIAL/RETAIL: There are several retail areas within the Canada Bay Local Government Area. Primarily they have developed along most of the main roads, the largest ones being Drummoyne on Victoria Rd, Five Dock on the Great North Rd, Concord on Majors Bay Rd and North Strathfield/Concord West along Concord Rd, and are in the form of strip retail centres. More recently shopping centres have been developed at Birkenhead Point, North Strathfield (George St) and Rhodes. Retail neighbourhood centres have also developed in the suburbs of Russell Lea, Wareemba, Breakfast Point, North Strathfield & Concord West railway stations and numerous other smaller localities. Parramatta Rd along parts of its route and Victoria Rd have matured as commercial areas and have recently included a number of mix uses along their courses which has established them as diverse and complex markets. Alongside traditions main road uses such as car yards and automotive industries, today likely uses also include commercial offices, bulky goods retailers, mix use residential developments and showrooms. INDUSTRIAL: The municipality of Canada Bay has several small industrial pockets including; along Parramatta Rd at Canada Bay, Queen, Harris and William Streets also at Canada Bay, and small pockets at Concord West centred around the railway station and at Rhodes - around Leeds St. A sizeable corporate/business park is also located along Concord Rd at Rhodes. The Mortlake industrial area now mainly concentrated in parts of Bennett and Hilly Streets and Tennyson Rd are situated within a redevelopment zone. Rising land values and the area’s waterfront locality are slowly decreasing the number of industrial property and increasing the number of high density residential developments.



2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES

District 139 - Canada Bay LGA 2016

Register of Land Value Entry Totals at 31 Oct 16 (the totals below include the 31 Oct 2016 Supplementary Import)

Zone Category (all zones)

Residential 17032 93.44%

Business 816 4.48%

Industrial 113 0.62%

Open Space 197 1.08%

Special Uses 39 0.21%

Miscellaneous 31 0.17%

Totals 18228 100.00%

Residential Category

Single Dwelling Sites 15652 91.90%

Other Residential 1380 8.10%

Totals 17032 100.00%



2.0 NUMBER OF VALUATIONS IN THE ZONE CATEGORIES (Continued)




District 139 - Canada Bay LGA 2016 Register of LV Entries per Component at 31 Oct 2016

Zone Component # Entries % Zone Component # Entries %

B1 CCC 65 0.36% R2 EWW 79 0.43%

B1 CVN 40 0.22% R2 RFF 166 0.91%

B1 SGG 25 0.14% R2 RGG 911 5.00%

B1 SLL 56 0.31% R2 RNN 38 0.21%

B1 SSS 117 0.64% R2 RPP 507 2.78%

B3 FBB 13 0.07% R2 RSS 4126 22.64%

B4 CAA 61 0.33% R2 RVV 793 4.35%

B4 CVM 87 0.48% R2 RWW 78 0.43%

B4 LAR 9 0.05% R3 EAD 92 0.50%

B4 LBR 21 0.12% R3 ECD 141 0.77%

B4 SFF 116 0.64% R3 EDB 50 0.27%

B4 SVV 84 0.46% R3 EDD 242 1.33%

B4 SXX 6 0.03% R3 EKD 467 2.56%

B6 CVP 9 0.05% R3 EQD 294 1.61%

B6 SBB 62 0.34% R3 ESD 584 3.20%

B6 SBP 35 0.19% R3 RDD 574 3.15%

B7 DRR 10 0.05% R3 RDW 65 0.36%

E2 ECF 6 0.03% R3 RFD 308 1.69%

IN1 DAA 31 0.17% R3 RGD 414 2.27%

IN1 DLL 11 0.06% R3 RHH 107 0.59%

IN1 DPP 9 0.05% R3 RPD 314 1.72%

IN1 DSS 50 0.27% R3 RSD 331 1.82%

IN1 DWW 5 0.03% R4 LER 64 0.35%

IN1 DZZ 7 0.04% RE1 KGG 4 0.02%

R1 FAA 157 0.86% RE1 KPP 173 0.95%

R1 FDD 77 0.42% RE1 KRR 15 0.08%

R1 FEE 42 0.23% RE2 KPR 5 0.03%

R2 EAA 93 0.51% SP2 JCC 6 0.03%

R2 EBP 197 1.08% SP2 JEE 8 0.04%

R2 ECC 1471 8.07% SP2 JRR 11 0.06%

R2 EKK 1927 10.57% SP2 JUU 14 0.08%

R2 ENN 38 0.21% Z LMM 13 0.07%

R2 EQQ 372 2.04% Z LXX 12 0.07%

R2 ESS 1913 10.49%

Totals No. of Components 67

Totals No. of Valuations 18228




District 139 - Canada Bay LGA 2016 Register of LV Totals per Category at 31 Oct 2016

Zone Component Total LV 2016 % Zone Component Total LV 2016 %

B1 CCC $39,843,000 0.14% R2 EWW $248,620,370 0.87%

B1 CVN $136,220,000 0.48% R2 RFF $199,342,000 0.70%

B1 SGG $27,480,000 0.10% R2 RGG $1,197,470,160 4.19%

B1 SLL $49,146,500 0.17% R2 RNN $28,273,220 0.10%

B1 SSS $92,085,100 0.32% R2 RPP $702,815,460 2.46%

B3 FBB $68,680,070 0.24% R2 RSS $5,103,675,680 17.85%

B4 CAA $116,188,000 0.41% R2 RVV $1,542,838,460 5.40%

B4 CVM $462,685,000 1.62% R2 RWW $281,315,300 0.98%

B4 LAR $22,840,000 0.08% R3 EAD $157,579,660 0.55%

B4 LBR $258,049,000 0.90% R3 ECD $152,392,000 0.53%

B4 SFF $181,928,000 0.64% R3 EDB $523,121,000 1.83%

B4 SVV $101,433,800 0.35% R3 EDD $817,376,000 2.86%

B4 SXX $83,426,000 0.29% R3 EKD $617,908,200 2.16%

B6 CVP $66,970,000 0.23% R3 EQD $244,793,000 0.86%

B6 SBB $184,803,500 0.65% R3 ESD $525,019,140 1.84%

B6 SBP $29,357,000 0.10% R3 RDD $1,947,765,680 6.81%

B7 DRR $118,672,700 0.42% R3 RDW $244,160,000 0.85%

E2 ECF $3,069,400 0.01% R3 RFD $513,605,410 1.80%

IN1 DAA $81,990,000 0.29% R3 RGD $508,477,390 1.78%

IN1 DLL $149,110,000 0.52% R3 RHH $830,917,200 2.91%

IN1 DPP $39,141,000 0.14% R3 RPD $462,946,720 1.62%

IN1 DSS $41,716,900 0.15% R3 RSD $342,251,000 1.20%

IN1 DWW $39,180,000 0.14% R4 LER $532,144,000 1.86%

IN1 DZZ $2,435,810 0.01% RE1 KGG $11,030,000 0.04%

R1 FAA $213,879,000 0.75% RE1 KPP $115,269,100 0.40%

R1 FDD $163,432,000 0.57% RE1 KRR $17,605,000 0.06%

R1 FEE $224,828,000 0.79% RE2 KPR $23,286,600 0.08%

R2 EAA $136,389,690 0.48% SP2 JCC $392,700 0.00%

R2 EBP $318,028,000 1.11% SP2 JEE $551,870 0.00%

R2 ECC $1,645,484,900 5.76% SP2 JRR $113,072,320 0.40%

R2 EKK $2,545,289,250 8.90% SP2 JUU $2,051,220 0.01%

R2 ENN $46,076,461 0.16% Z LMM $7,014,900 0.02%

R2 EQQ $555,133,000 1.94% Z LXX $1,302,010 0.00%

R2 ESS $2,327,539,450 8.14%

Totals No. of Components 67

Totals No. of Valuations $28,588,913,301



3.0 TOWN PLANNING & ZONING INSTRUMENTS. Canada Bay Council’s primary planning instrument that controls and regulates development within the majority of the municipality at the time of this report is:- Canada Bay Local Environmental Plan 2013 (CBLEP 2013) as amended published in Gazette No.389 on 19th July 2013 and came into effect on 2nd August 2013. CBLEP 2013 replaced Canada Bay LEP 2008.

Canada Bay Council exhibited the Draft City of Canada Bay Local Environmental Plan (LEP) during the latter part of 2012 and early 2013. The draft LEP was endorsed by Council at its meeting of March 2013 and was submitted to the New South Wales Department of Planning for consideration and gazettal by the Minister. The stated aims of the Plan are:

(1) This Plan aims to make local environmental planning provisions for land in Canada Bay in accordance with the relevant standard environmental planning instrument under section 33A of the Act.

(2) The particular aims of this Plan are as follows: (a) to create a land use framework for controlling development in Canada Bay that allows detailed provisions to be made in any development control plan made by the Council, (b) to maintain and enhance the existing amenity and quality of life of the local community by providing for a balance of development that caters for the housing, employment, entertainment, cultural, welfare and recreational needs of residents and visitors, (c) to achieve high quality urban form by ensuring that new development reflects the existing or desired future character of particular localities, (d) to promote sustainable transport, reduce car use and increase use of public transport, walking and cycling, (e) to provide high quality open spaces and a range of recreational facilities, (f) to conserve the environmental heritage of Canada Bay, (g) to promote ecologically sustainable development, (h) to facilitate public access to foreshore land.

Some of the relevant ‘GENERAL RESTRICTIONS ON DEVELOPMENT OF LAND’ contained within CBLEP 2013 include but is not limited to the following provisions: - Part 4 Principle Development Standards 4.1 Minimum subdivision lot size

(1) The objectives of this clause are as follows: (a) to ensure that subdivision reflects and reinforces the predominant subdivision pattern of the area,



3.0 TOWN PLANNING & ZONING INSTRUMENTS (Continued) (b) to minimise any likely impact of subdivision and development on the amenity of neighbouring properties, (c) to ensure that lot sizes and dimensions are able to accommodate development, (d) to maintain visual amenity and character of the area, (e) to retain residential amenity through the provision of suitable landscaped areas and vehicular access.

(2) This clause applies to a subdivision of any land shown on the Lot Size Map that

requires development consent and that is carried out after the commencement of this Plan.

(3) The size of any lot resulting from a subdivision of land to which this clause applies is

not to be less than the minimum size shown on the Lot Size Map in relation to that land.

(3A) If a lot is a battle-axe lot or other lot with an access handle, the area of the access handle is not to be included in calculating the lot size. (4) This clause does not apply in relation to the subdivision of individual lots in a strata

plan or community title scheme.

4.1A Minimum lot sizes for dual occupancies, multi dwelling housing and residential flat buildings

(1) The objective of this clause is to achieve planned residential density in certain zones.

(2) Development consent may be granted to development on a lot in a zone shown in Column 2 of the Table to this clause for a purpose shown in Column 1 of the Table opposite that zone, if the area of the lot is equal to or greater than the area specified for that purpose and shown in Column 3 of the Table.

Column 1 Column 2 Column 3

Dual occupancy (attached) Zone R1 General Residential, Zone R2 Low Density Residential, Zone R3 Medium Density Residential

450 square metres

Dual occupancy (detached) Zone R1 General Residential, Zone R2 Low Density Residential, Zone R3 Medium Density Residential

800 square metres

Multi dwelling housing Zone R1 General Residential, Zone R3 Medium Density Residential

800 square metres

3.0 TOWN PLANNING & ZONING INSTRUMENTS (Continued)



Multi dwelling housing Zone R4 High Density Residential

1,500 square metres

Residential flat building Zone R1 General Residential, Zone R3 Medium Density Residential

800 square metres

Residential flat building Zone R4 High Density Residential

1,500 square metres

4.3 Height of buildings

(1) The objectives of this clause are as follows:

(a) to ensure that buildings are compatible with the desired future character in terms of building height and roof forms, (b) to minimise visual impact, disruption of views, loss of privacy and loss of solar access to existing development.

(2) The height of a building on any land is not to exceed the maximum height shown for the land on the Height of Buildings Map.

4.4 Floor space ratio

(1) The objectives of this clause are as follows:

(a) to ensure that buildings are compatible with the bulk and scale of the desired future character of the locality, (b) to provide a suitable balance between landscaping and built form, (c) to minimise the effects of bulk and scale of buildings.

(2) The maximum floor space ratio for a building on any land is not to exceed the floor space ratio shown for the land on the Floor Space Ratio Map.

6.4 Limited development on foreshore area

(1) The objective of this clause is to ensure that development in the foreshore area will not impact on natural foreshore processes or affect the significance and amenity of the area. (2) Development consent must not be granted for development on land in the foreshore area except for the following purposes:

(a) the extension, alteration or rebuilding of an existing building wholly or partly in the foreshore area, (b) the erection of a building in the foreshore area, if the levels, depth or other exceptional features of the site make it appropriate to do so,



3.0 TOWN PLANNING & ZONING INSTRUMENTS (Continued) (c) boat sheds, sea retaining walls, wharves, slipways, jetties, waterway access stairs, swimming pools, fences, cycleways, walking trails, picnic facilities or other recreation facilities (outdoors).

(3) Development consent must not be granted under subclause (2) unless the consent authority is satisfied that:

(a) the development will contribute to achieving the objectives for the zone in which the land is located, and (b) the appearance of any proposed structure, from both the waterway and adjacent foreshore areas, will be compatible with the surrounding area, and (c) the development will not cause environmental harm. (d) the development will not cause congestion or generate conflict between people using open space areas or the waterway, and (e) opportunities to provide continuous public access along the foreshore and to the waterway will not be compromised.

(4) In deciding whether to grant consent for development in the foreshore area, the consent authority must consider whether and to what extent the development would encourage the following:

(a) continuous public access to and along the foreshore through or adjacent to the proposed development, (b) public access to link with existing or proposed open space, (c) public access to be secured by appropriate covenants, agreements or other instruments registered on the title to land, (d) public access to be located above mean high water mark, (e) the reinforcing of the foreshore character and respect for existing environmental conditions.

(5) In this clause:

foreshore area means the land between the foreshore building line and the mean high water mark of the nearest natural waterbody shown on the Foreshore Building Line Map.

foreshore building line means:

(a) the line that is landward of, and at the distance specified on the Foreshore Building Line Map from, the mean high water mark of the nearest natural waterbody shown on that map, or (b) if no distance is specified, the line shown as the foreshore building line on that map.




Schedule 1 Additional permitted uses:

(Clause 2.5)

1 Use of certain land at 378 and 380 Great North Road, Abbotsford and Abbotsford House, 2 Abbotsford Cove Drive, Abbotsford.

(1) This clause applies to land at 378 and 380 Great North Road, Abbotsford and Abbotsford House, 2 Abbotsford Cove Drive, Abbotsford (known as the “Nestlé site”), in particular, Abbotsford House, Chatham House and the Clubhouse pavilion, being Lot 22, DP 270127, Lot 1, DP 862198 and Lot 19, DP 270127.

(2) Development for the following purposes is permitted with development consent:

(a) office premises, (b) restaurants or cafes.

2 Use of land at Breakfast Point

(1) This clause applies to land at Breakfast Point, being Lots 46 and 87, DP 270347.


(a) retail premises, (b) business premises.

3 Use of certain land at 1 Shore Road and 2 Bechert Road, Chiswick

(1) This clause applies to land at 1 Shore Road and 2 Bechert Road, Chiswick, being Part Lots 63, 64 and 73, SP 64846 and Part Lots 6 and 7, SP 69974.

(2) Development for the purposes of commercial premises is permitted with development

consent.

5 Use of certain land at Killoola Street, Concord West

(1) This clause applies to land at Killoola Street, Concord West (Rhodes Park), being Lots 9–12 and Lots 21–25, DP 20309 and Lot 2, DP 1111329.


(a) child care centres, (b) community facilities, (c) respite day care centres, (d) restaurants or cafes, (e) schools.




8 Use of certain land at 69 Renwick Street, Drummoyne

(1) This clause applies to land at 69 Renwick Street, Drummoyne, being Lot 203, DP 1059556. (2) Development for the purpose of a car park in association with the adjoining development at

162–166 Victoria Road, Drummoyne, is permitted with development consent.

9 Use of certain land at 30–34 St Georges Crescent, Drummoyne

(1) This clause applies to land at 30-34 St Georges Crescent, Drummoyne, being Lot 66, DP 3859, Lot 1, DP 869786, Lot 1, DP 864334 and Lot 1, DP 1018805.

(2) Development for the purpose of marinas is permitted with development consent.

10 Use of certain land at 380 Victoria Place, Drummoyne

(1) This clause applies to land at 380 Victoria Place, Drummoyne, being Lot B, DP 401843 and Lot 1, DP 549352.

(2) Development for the purpose of marinas is permitted with development consent.

11 Use of certain land at Bevin Avenue, Five Dock

(1) This clause applies to land at Bevin Avenue, Five Dock, being Lot 1, DP 860469. (2) Development for the following purposes is permitted with development consent if the use is associated with the adjacent Canada Bay Club:

(a) car parks, (b) serviced apartments.

12 Use of certain land at Bevin Avenue, Five Dock

(1) This clause applies to land at Bevin Avenue, Five Dock, being Lot 1, DP 1136926, Lot 4, DP 536187 and Lot 2, DP 527649.

(2) Development for the purpose of a registered club is permitted with development consent.

13 Use of certain land at 104 William Street, Five Dock

(1) This clause applies to land at 104 William Street, Five Dock, being SP 73162 and SP 73163.

(2) Development for the following purposes is permitted with development consent: (a) commercial premises, (b) light industries.




14 Use of certain land at 49–51 Queens Road, Five Dock

(1) This clause applies to land at 49-51 Queens Road, Five Dock, being Lot 1, DP 607226 and Lot 1, DP 738950.

(2) Development for the purpose of office premises is permitted with development consent.

14A Use of certain land at 95 and 97–99 Queens Road, Five Dock

(1) This clause applies to land at 95 and 97–99 Queens Road, Five Dock, being Lot 92, DP 1047100 and Lot 11, DP 1135519.

(2) Development for the purpose of a child care centre is permitted with development consent.

15 Use of certain land at 21–27 Regatta Road, Five Dock

(1) This clause applies to land at 21–27 Regatta Road, Five Dock, being lots 1–3, DP 1034085.

(2) Development for the purposes of vehicle sales or hire premises is permitted with development consent.

16 Use of certain land at 27 George Street, North Strathfield

(1) This clause applies to land at 27 George Street, North Strathfield, being Part Lots 1–8 and Part Lots 27–33, SP 84982.

(2) Development for the purpose of commercial premises is permitted with development consent.

19 Use of land in Zone R4

(1) This clause applies to land in Zone R4 High Density Residential.

(2) Development for the purpose of commercial premises is permitted with development consent on the ground floor of residential flat buildings.

The City of Canada Bay Development Control Plan (DCP) contains detailed development standards and design controls for various types of development. These provisions support the CBLEP and apply to all land within Canada Bay Local Government Area. The parts of the DCP include but are not limited to:

Part 4 – Heritage Conservation

Part 5 – Residential Controls for Houses and Attached Dual Occupancies

Part 6 – Residential: Controls for Detached Dual Occupancies, Multi Dwelling Housing & Residential Flat buildings




Part 7 – Mixed Use Areas and Neighbourhood Centres

Part 8 – Industrial Development

Part 9 – Signs and Advertising Structures

Part 10 – Child Care Centres.

The DCP lists individual ‘Site or Precinct Specific Development Control Plans’ which govern the development standards in certain re-development areas. These currently number 15 specific precincts and include:

Rhode West DCP Part 1-3 27 George Street North Strathfield DCP Abbotsford cove DCP Cape Cabarita (former Welcome Site) DCP Drummoyne Village DCP Edgewood and Kendall Inlet (former Dulux Site) DCP Kings Bay (former Hycraft Site) DCP Liberty Grove DCP Mortlake Point DCP Pelican Point, Pelican Quays & Phillips Landing DCP Rhodes Corporate Park (Former Digital Site) DCP Single Dwellings on Lots at Breakfast Point DCP Sydney Wire Mill Site (former BHP site) Tuscany Court (former Crompton Parkinson Site) DCP Strathfield Triangle DCP

Rhodes Peninsula – Redevelopment Area Until recently there existed areas within the City of Canada Bay Council’s boundaries whose planning controls come under the administration of State significant controls. These were the Rhodes redevelopment area and foreshore land along the eastern shore of Homebush Bay whose development is guided by State Regional Environmental Plan No.29 (SREP No.29) and No.24 respectively. CBLEP 2013 amongst other zoning changes introduced the standardised state wide zoning framework to the Rhodes Redevelopment Area from the precinct based planning controls contained within SREP No.29.



4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS.

Below are some of the major developments and planning projects which are currently most likely to have significant impacts in the Canada Bay Council area.

Parramatta Road Urban Renewal “New Parramatta Road” is a NSW State Government project to regenerate the Parramatta Road Corridor, which is defined as the land adjoining and at least one block back from the 22-kilometre Parramatta Road, as well as eight identified growth Precincts.

On Thursday 17 September 2015, the NSW State Government released the draft Parramatta Road Urban Transformation Strategy. This draft Strategy builds on the preliminary draft Strategy released in 2014 and addresses the community feedback received as well as bringing together a body of research and investigation into the Corridor's potential for regeneration.

Eight (8) distinct Precincts have been identified with the Parramatta Road Corridor, to be the focal points of growth and renewal within the corridor due to the access to jobs, transport, infrastructure and services. These eight precincts from west to east are, Granville, Auburn, Homebush, Burwood, Kings Bay, Taverners Hill, Leichhardt and Camperdown. These precincts are connected to form an interconnected corridor along its length by ‘The Frame Areas’ which typically include land along Parramatta Rd and the first street on either of Parramatta Rd. Refer to diagram of the Corridor.

Although, detailed planning controls for each precinct contained within that part of the Corridor and affecting Burwood Contract LGA’s has yet not been released, the visions for these Precincts enables a clearer understanding of the types of uses and densities proposed. Homebush ‘Vision: Sitting between Sydney’s two main CBD’s, Homebush can be transformed into an active and varied hub, blending higher density housing and a mix of different uses, supported by a network of green links and open spaces with walking access to four train stations.’



4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS. Burwood ‘Vision: Burwood Precinct will be a commercial gateway to Burwood Town Centre based around the enlivened spine of Burwood Road building upon existing amenity for the residents.’ Kings Bay ‘Vision: Kings Bay will be a new residential and mixed use urban village on Parramatta Rd, with an active main street and strong links to open space network along Sydney Harbour.’ Taverners Hill ‘Vision: Taverners Hill will be an urban village with walking and cycling links via Greenway, access to many public transport modes and many neighbourhood parks, squares and leafy streets.’ Leichhardt ‘Vision: Leichhrdt Precinct will be a vibrant mixed use entertainment precinct visited by people from all over Sydney, with retail and residential opportunities creating a rejuvenated and active Norton Street and Parramatta Road.’ Camperdown ‘Vision: Camperdown Precinct will be home to high quality housing and workplaces right on the edge of the CBD, well connected to the surrounding city, parklands, health and educational facilities and focused on a busy and active local centre.’

Rhodes East The Department of Planning and Environment and City of Canada Bay Council are in partnership to connect new services, infrastructure and open spaces in attempt to improve the public domain. The types of future development will be considered as part of the investigation and through consultation with the community.

The study area in outlined in the below diagram.



4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS.

The Rhodes East Priority Precinct, entails investigation and background studies, planning and eventually a rezoning for the area. Some of the initiate community consultation has provided a broad summary of the vision for Rhodes East, which includes the following outline,



4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS. (Continued)

WestConnex Project WestConnex a motorway project to connect Parramatta with Sydney Airport and beyond. The WestConnex is a 33km motorway proposed to travel from Parramatta along the M4/Parramatta Road corridor to Beverly Hills. It is proposed to connect Parramatta, Sydney Airport and Beverly Hills. The section of the WestConnex that affects Canada Bay is the extension of the M4 via tunnels from Homebush to the City West Link/Parramatta Road at Haberfield. The WestConnex was first announced by the State Government in 2012 as part of the Infrastructure NSW report titled "First Things First". The total project is estimated to cost between $11 to $11.5 billion with $200 million allocated to "seed funding" for Urban Revitalisation along the corridor. The project has been divided into two separate projects:

The WestConnex Motorway and The Parramatta Road Urban Renewal Program

During 2015 and 2016 Roads and Maritime Services (RMS) undertook most of the compulsory acquisitions involved with the WestConnex project. Large areas of Parramatta Rd at the intersection of Concord Rd where many of the off/on ramps associated with the project are to be situated are currently under construction. A combination of the WestConnex project and the release of the draft Parramatta Rd Urban Renewal Strategy have contributed in the volume of sales and the changes in value of property along this road corridor. The redevelopments of Breakfast Point and the Rhodes Peninsula are continuing to progress at a steady rate. The NSW Department of Planning and Infrastructure has approved the construction of a bridge across Homebush Bay to assist resident of waterside, urban renewal areas to more easily access public transport, jobs and open space. Other large residential redevelopment sites have been completed on Parramatta Rd & Hilts Rd as part of the redevelopment of Strathfield Triangle. Recent commercial sales along Parramatta Rd suggest there is still a growing demand for showroom, office accommodation space and apartments along these highly visible localities, but also those with good amenity, i.e. transport options, proximity to shops and the waterfront. The residential market continues to grow particularly in the Inner West unit markets. It appears developers remain positive about long term prospects with the continuing high level of buyer demand for new stock. An overall limited supply of property for sale and continuing low interest rates have been a key driver for both the local and overseas investor-led demand for inner city single residential dwellings and apartments.



4.0 IDENTIFIED SIGNIFICANT CHANGES IN USE OR DEVELOPMENTS OF PROPERTY AND OTHER FACTORS WHICH MAY AFFECT VALUATIONS. (Continued)

Aircraft noise is a continuing factor within the Canada Bay Local Government Area, however any affectation is reflected in the relevant market evidence. “Aircraft Movements for the year 2012” and “Sydney Airport Operational Statistics – March 2012” are available at the following web site www.airservicesaustralia.com.

The High Court decision Maurici v Deputy Commissioner of Land Tax requires that the valuation be made free of any influence of scarcity. In effect, the valuer is required to have regard to the whole market and not just the vacant land sales. In order to fulfil this requirement Southern Alliance Valuation Services Pty Ltd will have regard to all the sales evidence. Significant transactions and developments to have occurred or that are in the course of planning/development for the Canada Bay LGA are included in the annexures of this report. Refer to ANNEXURE ‘A’ for Canada Bay DA Register Refer to ANNEXURE ‘D’ for Canada Bay Newspaper Articles.



5.0 ADDED VALUE OF IMPROVEMENTS RESIDENTIAL: The ‘Paired Sales Approach’ was used throughout the City of Canada Bay LGA whereby, the land value demonstrated by vacant land sales is to be taken from the sale price of improved properties to determine the added value of the improvements. The table details the results from this analysis for the Canada Bay Local Government Area. The schedule provided is general in nature and each analysed sale is assessed individually when determining the added value of improvements to capture specific features e.g. renovations, pools, landscaping, no. of levels, topography etc. Refer to ANNEXURE ‘B’ for Paired Sales Analysis Replacement Cost Approach: The replacement cost approach may be relied on in circumstances where there are low volumes of vacant land sales for use in paired sales analysis. It is based on the principle that the informed purchaser would pay no more than the cost to reproduce the sale property and avoids having to make a hypothetical adjustment for depreciation by allowing for the costs to bring the sale property to an as new condition. Costs are based on buildings as similar as possible to the existing building. Further allowances may be required to account for obsolescence.



5.0 ADDED VALUE OF IMPROVEMENTS (Continued)

Rates Per Square Metre ($/m)

Adopted from Paired Sales

Property Type Size (m)

Condition

Very Poor Poor Average Good Very Good

Superior

Fibrous Cement

0 ‐ 89 600 ‐ 700 700 ‐ 800

800 ‐ 1000

1000 ‐ 1200

1200 ‐ 1300

1300 ‐ 1500

90 ‐ 119 600 ‐ 675 675 ‐ 750

750 ‐ 900

900 ‐ 1050

1050 ‐ 1150

1150 ‐ 1400

120 ‐ 199 550 ‐ 625 625 ‐ 700

700 ‐ 800

800 ‐ 900

900 ‐ 1000

1000 ‐ 1300

200 ‐ 300 475 ‐ 600 600 ‐ 675

675 ‐ 750

750 ‐ 850

850 ‐ 975

975 ‐ 1150

Weatherboard (1880 ‐ 1930's)

0 ‐ 89 1500 ‐ 1650

1650 ‐ 1800

1800 ‐ 2000

2000 ‐ 2200

2200 ‐ 2350

2350 ‐ 2500

90 ‐ 119 1500 ‐ 1600

1600 ‐ 1700

1700 ‐ 1900

1900 ‐ 2100

2100 ‐ 2200

2200 ‐ 2400

120 ‐ 199 1400 ‐ 1500

1500 ‐ 1600

1600 ‐ 1800

1800 ‐ 2000

2000 ‐ 2100

2100 ‐ 2300

200 ‐ 300 1250 ‐ 1400

1400 ‐ 1500

1500 ‐ 1650

1650 ‐ 1850

1850 ‐ 1950

1950 ‐ 2150

Victorian (1870's ‐ 1910)

0 ‐ 89 2250 ‐ 2450

2450 ‐ 2650

2650 ‐ 2900

2900 ‐ 3150

3150 ‐ 3350

3350 ‐ 3500

90 ‐ 119 2250 ‐ 2400

2400 ‐ 2550

2550 ‐ 2750

2750 ‐ 2950

2950 ‐ 3100

3100 ‐ 3300

120 ‐ 199 2150 ‐ 2300

2300 ‐ 2450

2450 ‐ 2650

2650 ‐ 2850

2850 ‐ 3000

3000 ‐ 3200

200 ‐ 300 2000 ‐ 2150

2150 ‐ 2300

2300 ‐ 2450

2450 ‐ 2650

2650 ‐ 2800

2800 ‐ 3000

Federation (1890 ‐ 1920's)

0 ‐ 89 2250 ‐ 2450

2450 ‐ 2650

2650 ‐ 2900

2900 ‐ 3150

3150 ‐ 3350

3350 ‐ 3500

90 ‐ 119 2250 ‐ 2400

2400 ‐ 2550

2550 ‐ 2750

2750 ‐ 2950

2950 ‐ 3100

3100 ‐ 3300

120 ‐ 199 2150 ‐ 2300

2300 ‐ 2450

2450 ‐ 2650

2650 ‐ 2850

2850 ‐ 3000

3000 ‐ 3200

200 ‐ 300 2000 ‐ 2150

2150 ‐ 2300

2300 ‐ 2450

2450 ‐ 2650

2650 ‐ 2800

2800 ‐ 3000

Californian Bungalow (1910 ‐ 1930's)

0 ‐ 89 2100 ‐ 2250

2250 ‐ 2400

2400 ‐ 2600

2600 ‐ 2800

2800 ‐ 2950

2950 ‐ 3100

90 ‐ 119 2100 ‐ 2200

2200 ‐ 2300

2300 ‐ 2500

2500 ‐ 2700

2700 ‐ 2850

2850 ‐ 3000

120 ‐ 199 2000 ‐ 2100

2100 ‐ 2200

2200 ‐ 2400

2400 ‐ 2600

2600 ‐ 2750

2750 ‐ 2900



200 ‐ 300 1950 ‐ 2050

2050 ‐ 2150

2150 ‐ 2350

2350 ‐ 2550

2550 ‐ 2700

2700 ‐ 2800

Art Deco (1920's ‐ 1940)

0 ‐ 89 2100 ‐ 2250

2250 ‐ 2400

2400 ‐ 2600

2600 ‐ 2800

2800 ‐ 2950

2950 ‐ 3100

90 ‐ 119 2100 ‐ 2200

2200 ‐ 2300

2300 ‐ 2500

2500 ‐ 2700

2700 ‐ 2850

2850 ‐ 3000

120 ‐ 199 2000 ‐ 2100

2100 ‐ 2200

2200 ‐ 2400

2400 ‐ 2600

2600 ‐ 2750

2750 ‐ 2900

200 ‐ 300 1950 ‐ 2050

2050 ‐ 2150

2150 ‐ 2350

2350 ‐ 2550

2550 ‐ 2700

2700 ‐ 2800

Post War (1945 ‐ 1960's)

0 ‐ 89 1750 ‐ 1900

1900 ‐ 2050

2050 ‐ 2250

2250 ‐ 2450

2450 ‐ 2600

2600 ‐ 2750

90 ‐ 119 1750 ‐ 1850

1850 ‐ 1950

1950 ‐ 2150

2150 ‐ 2350

2350 ‐ 2500

2500 ‐ 2700

120 ‐ 199 1600 ‐ 1700

1700 ‐ 1800

1800 ‐ 2000

2000 ‐ 2200

2200 ‐ 2350

2350 ‐ 2500

200 ‐ 300 1500 ‐ 1600

1600 ‐ 1700

1700 ‐ 1900

1900 ‐ 2100

2100 ‐ 2250

2250 ‐ 2400

Modern (1960's ‐ today)

0 ‐ 89 1500 ‐ 1650

1650 ‐ 1800

1800 ‐ 2000

2000 ‐ 2200

2200 ‐ 2350

2350 ‐ 2500

90 ‐ 119 1500 ‐ 1600

1600 ‐ 1700

1700 ‐ 1900

1900 ‐ 2100

2100 ‐ 2200

2200 ‐ 2400

120 ‐ 199 1400 ‐ 1500

1500 ‐ 1600

1600 ‐ 1800

1800 ‐ 2000

2000 ‐ 2100

2100 ‐ 2300

200 ‐ 300 1300 ‐ 1400

1400 ‐ 1500

1500 ‐ 1700

1700 ‐ 1900

1900 ‐ 2000

2000 ‐ 2200

Retro Federartion (1980's ‐ 2000)

0 ‐ 89 1500 ‐ 1650

1650 ‐ 1800

1800 ‐ 2000

2000 ‐ 2200

2200 ‐ 2350

2350 ‐ 2500

90 ‐ 119 1500 ‐ 1600

1600 ‐ 1700

1700 ‐ 1900

1900 ‐ 2100

2100 ‐ 2200

2200 ‐ 2400

120 ‐ 199 1400 ‐ 1500

1500 ‐ 1600

1600 ‐ 1800

1800 ‐ 2000

2000 ‐ 2100

2100 ‐ 2300

200 ‐ 300 1300 ‐ 1400

1400 ‐ 1500

1500 ‐ 1700

1700 ‐ 1900

1900 ‐ 2000

2000 ‐ 2200

Architectural Design (All periods)

0 ‐ 89 2250 ‐25002500 ‐ 2750

2750 ‐ 3000

3000 ‐ 3250

3250 ‐ 3500

3500 ‐ 4000

90 ‐ 119 2250 ‐ 2450

2450 ‐ 2650

2650 ‐ 2850

2850 ‐ 3150

3150 ‐ 3350

3350 ‐ 3750

120 ‐ 199 2150 ‐ 2350

2350 ‐ 2550

2550 ‐ 2750

2750 ‐ 2950

2950 ‐ 3150

3150 ‐ 3500

200 ‐ 300 2050 ‐ 2250

2250 ‐ 2450

2450 ‐2650

2650 ‐ 2850

2850 ‐ 3050

3050 ‐ 3300



5.0 ADDED VALUE OF IMPROVEMENTS (Continued)

COMMERCIAL / RETAIL / INDUSTRIAL: Due to the lack of sufficient vacant land sales in the Canada Bay LGA for the above zone categories, the Replacement Cost approach was applied when analysing sales evidence. The Replacement Cost approach is based upon the principle that the informed purchaser would pay no more than the cost to reproduce the sale property. Hence the methodology used on analysis is as follows:

Replacement Cost Methodology: Reasonable allowance for refurbishment costs added to the sale price to bring the

improvements to an as new replacement standard where the returns would be equivalent to as new.

An appropriate entrepreneurial profit and risk allowance. On average between 15% – 25% in the Canada Bay valuation area.

Allowance for interest on funds during the hypothetical construct to completion period. This is inclusive of holding charges and construction costs. Depending on borrowings between 6% - 8% was applied.

The adjusted sale price can now be analysed for land content by using industry accepted cost estimates for the as new building and development expenses. As a general summary, the cost new applied in the Canada Bay districts were as follows:

Single storey retail shop $2,000 m2 gross building area Two storey retail shop with office above $1,500 m2 gross building area Two storey retail shop with residential above $2,000 m2 gross building area Industrial (depending on construction type) $500 - $1,000m2 gross building area The residual amount following this exercise will show the adjusted land value at the base date.

Other costs accounted for are:

All professional fees Costs of site works in preparation for building Cost of stamp duty and legal charges on purchase of site

Costs of rates and taxes over development period

Loss of interest on capital outlaid on purchase of site Loss of interest on capital outlaid on construction (av. 50% of dev. period). Legal costs and commission on sale for development sites. Critical to the analysis is that the added value only is to be captured and taken from the Sale Price to show the Residual Land Value.



6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS.

From the analysed sales evidence available at the commencement and during the programme, the amount of variation applied to the value of properties within each zone & component is as follows:

Value Levels - Typical Properties Typical Single Dwelling Site – Rhodes (EAA) Dimensions : 15.24m x 45.82m Site Area : 689.2m2 BD 07/15 Land Value : $1,300,000 Factor Update : 1.300 BD 07/16 Land Value : $1,690,000 Typical Single Dwelling Site – Breakfast Point (EBP) Dimensions : 15m x 30m Site Area : 450m2 BD 07/15 Land Value : $1,200,000 Factor Update : 1.200 BD 07/16 Land Value : $1,440,000

Typical Single Dwelling Site – Concord North (ECC) Dimensions : 15.24m x 45.72m Site Area : 695.6m2 BD 07/15 Land Value : $996,000 Factor Update : 1.104 BD 07/16 Land Value : $1,100,000

Typical Single Dwelling Site – Concord East (Mortlake, Cabarita) (EKK) Dimensions : 15.24m x 36.58m Site Area : 557.48m2 BD 07/15 Land Value : $1,080,000 Factor Update : 1.204 BD 07/16 Land Value : $1,300,000

Typical Single Dwelling Site – Concord West (EQQ) Dimensions : 10.06/11.08m x 59.69/56.48m Site Area : 574.9m2 BD 07/15 Land Value : $868,000 Factor Update : 1.382 BD 07/16 Land Value : $1,200,000 Typical Single Dwelling Site – Concord Central (ESS) Dimensions : 15.24m x 40.84m Site Area : 622.4m2 BD 07/15 Land Value : $1,240,000 Factor Update : 1.194 BD 07/16 Land Value : $1,480,000



6.0 CHANGES TO COMPONENTS ILLUSTRATED BY CHANGES TO THE EXISTING VALUE RELATIONSHIPS (Cont.)

Typical Single Dwelling Site – Canada Bay Waterfront (West) (EWW) Dimensions : 13.72m x 51.21m Site Area : 708.2m2 BD 07/15 Land Value : $2,320,000 Factor Update : 1.267 BD 07/16 Land Value : $2,940,000 Typical Single Dwelling Site – Drummoyne (East) (RFF) Dimensions : 9.14m x 30.48m Site Area : 278.59m2 BD 07/15 Land Value : $1,020,000 Factor Update : 1.235 BD 07/16 Land Value : $1,260,000 Typical Single Dwelling Site – Drummoyne (West of Victoria Rd) (RGG) Dimensions : 12.19m x 44.81m Site Area : 543.7m2 BD 07/15 Land Value : $1,430,000 Factor Update : 1.154 BD 07/16 Land Value : $1,650,000 Typical Single Dwelling Site – Prime Suburban (Canada Bay East) (RPP) Dimensions : 15.24m x 45.72m Site Area : 696.77m2 BD 07/15 Land Value : $1,570,000 Factor Update : 1.197 BD 07/16 Land Value : $1,880,000 Typical Single Dwelling Site – Secondary Suburban (Canada Bay East) (RSS) Dimensions : 15.54m x 33.53m Site Area : 521.06m2 BD 07/15 Land Value : $1,350,000 Factor Update : 1.148 BD 07/16 Land Value : $1,550,000 Typical Single Dwelling Site – Waterviews (Canada Bay East) (RVV) Dimensions : 15.11m/16.59m x 22.97m/36.94m Site Area : 525m2 BD 07/15 Land Value : $2,680,000 Factor Update : 1.201 BD 07/16 Land Value : $3,220,000




Typical Single Dwelling Site – Drummoyne Waterfront (RWW) Dimensions : 15.85m/HWM x 64.16m/62.33m Site Area : 964.2m2 BD 07/15 Land Value : $3,520,000 Factor Update : 1.099 BD 07/16 Land Value : $3,870,000 Typical Single Dwelling Site – Rhodes (EAD) Dimensions : 15.24m x 45.72m Site Area : 696.77m2 BD 07/15 Land Value : $1,120,000 Factor Update : 1.518 BD 07/16 Land Value : $1,700,000 Typical Density Sites – Canada Bay East (Non-Waterfront) (RDD) Dimensions : 20.12m x 77.88m Site Area : 1,566m2 Development : 33units (@ 48m2) BD 07/15 Land Value : $4,070,000 ($123,300/unit) Factor Update : 1.081 BD 07/16 Land Value : $4,400,000 ($133,300/unit) Typical Single Dwelling Site – Canada Bay Waterfront (East) (RDW) Dimensions : 6.5m x 26.77m Site Area : 174m2 BD 07/15 Land Value : $656,000 Factor Update : 1.279 BD 07/16 Land Value : $839,000 Typical Home Unit Site – Drummoyne Waterfront (East) (RHH) Dimensions : 22.92m/HWM x 66.00m/60.96m Site Area : 1,450m2 Development : 14 x 2 bedroom units (104m2) BD 07/15 Land Value : $6,430,000 ($459,300/unit) Factor Update : 1.052 BD 07/16 Land Value : $6,950,000 ($496,400/unit) Business Typical Retail Property – Majors Bay Rd, Concord (CAA) Dimensions : 6.21m x 39.71m Site Area : 240.3m2 BD 07/15 Land Value : $1,760,000 Rate per metre frontage: $283,414/m ftg ($7,324/m2) Factor Update : 1.176 BD 07/16 Land Value : $2,070,000 Rate per metre frontage: $333,333/m ftg ($8,614/m2)




Typical Retail Property – Great North Rd, Five Dock (SFF) Dimensions : 6.02m x 34.34m Site Area : 206.73m2 BD 07/15 Land Value : $928,000 Rate per metre frontage: $154,153/m ftg ($4,489/m2) Factor Update : 1.164 BD 07/16 Land Value : $1,080,000 Rate per metre frontage: $179,402/m ftg ($5,224/m2) Typical Retail Property – Victoria Rd, Drummoyne (SVV) Dimensions : 6.10m x 25.40m Site Area : 154.94m2 BD 07/15 Land Value : $808,000 Rate per metre frontage: $132,459/m ftg ($5,215/m2) Factor Update : 1.229 BD 07/16 Land Value : $993,000 Rate per metre frontage: $162,787/m ftg ($6,409/m2) Typical Retail Property – Concord Rd, North Strathfield (CCC) Dimensions : 5.74m x 36.27m Site Area : 202.3m2 BD 07/15 Land Value : $585,000 Rate per metre frontage: $101,916/m ftg ($2,892/m2) Factor Update : 1.097 BD 07/16 Land Value : $642,000 Rate per metre frontage: $111,847/m ftg ($3,174/m2) Typical Mix Use Property – Victoria Rd, Drummoyne (CVM) Dimensions : 27.44m x 30.48m Site Area : 836.3m2 BD 07/15 Land Value : $3,920,000 Rate per metre frontage: $142,857/m ftg ($4,687/m2) Factor Update : 1.059 BD 07/16 Land Value : $4,150,000 Rate per metre frontage: $151,239/m ftg ($4,962/m2) Typical Commercial Property – Parramatta Rd, (SBB) Dimensions : 54.81m/54.64m x 42.59m/45.72m Site Area : 2,375m2 BD 07/15 Land Value : $5,000,000 Rate per metre frontage: $91,224/m ftg ($2,105/m2) Factor Update : 1.308 BD 07/16 Land Value : $6,540,000 Rate per metre frontage: $119,321/m ftg ($2,754/m2) Handcrafted




Industrial Typical Industrial Site – Canada Bay (Small Sites to 1,000m) (DSS) Dimensions : 10.97m x 32.61m Site Area : 357.73m2 BD 07/15 Land Value : $569,000 Rate per square metre : $1,591/m2

Factor Update : 1.292 BD 07/16 Land Value : $735,000 Rate per square metre : $2,055/m2

Typical Industrial Site – Canada Bay (Average Sites 1,000 – 4,000m) (DAA) Dimensions : 43.97m/46.00m x 36.17m/36.28m Site Area : 1,618m2 BD 07/15 Land Value : $1,820,000 Rate per square metre : $1,125/m2

Factor Update : 1.901 BD 07/16 Land Value : $3,460,000 Rate per square metre : $2,138/m2

Typical Industrial Site – Parramatta Rd (Large Sites over 4,000m) (DLL) Dimensions : 185.855m ftg Site Area : 1.528ha BD 07/15 Land Value : $8,290,000 Rate per square metre : $542/m2

Factor Update : 1.882 BD 07/16 Land Value : $15,600,000 Rate per square metre : $1,021/m2

Undertermined Rhodes (SREP) Mixed Business/Residential Dev. Site – Rhodes (East) (LBR) Dimensions : 40.84m/57.3m x 73.18m/56.39m Site Area : 2,638m2 Development : 51 mixed units (52m2/unit) BD 07/15 Land Value : $7,350,000 ($144,118/unit or $2,786/m2) Factor Update : 1.483 BD 07/16 Land Value : $10,900,000 ($213,725/unit or $4,132/m2) Residential Dev. Site – Rhodes (East) (LER) Dimensions : 54.13Irr/60.05m x 89.87Irr/45.54m Site Area : 3,966m2 Development : 107 residential units (37m2/unit) BD 07/15 Land Value : $10,300,000 ($96,262/unit or $2,597/m2) Factor Update : 1.184 BD 07/16 Land Value : $12,200,000 ($114,019/unit or $3,076/m2)




District 139 - Canada Bay LGA 2016

Base Date Land Value Totals at 31 Oct 2016

Zone & / or

Property Category

Total of 2015 LG LV's as at

07 Nov 15

Total of 2015 Prior LV's as at

07 Nov 15

Total of 2016 New LV's as at

07 Nov 16

2015 to

2016 Variati

on

2015 to

2016 Variat

ion

% of Cat. to Total

District Value 2015

% of Cat. to Total

District Value 2015

% of Cat. to Total

District Value 2016

(the totals below include the 31 Oct 2016 Supplementary Import)

Residential $22,234,929,591 $22,234,929,591 $25,900,886,801 1.165 1.165 91.35% 91.35% 90.60%

Business $1,627,113,990 $1,627,113,990 $2,039,807,670 1.254 1.254 6.68% 6.68% 7.13%

Industrial $208,538,020 $208,538,020 $353,573,710 1.695 1.695 0.86% 0.86% 1.24%

Open Space $152,618,040 $152,618,040 $167,190,700 1.095 1.095 0.63% 0.63% 0.58%

Special Uses $106,597,070 $106,597,070 $116,068,110 1.089 1.089 0.44% 0.44% 0.41%

Miscellaneous

$10,846,970 $10,846,970 $11,386,310 1.050 1.050 0.04% 0.04% 0.04%

District Land Value Total

$24,340,643,681 $24,340,643,681 $28,588,913,301 1.175 1.175 100.00

% 100.00

% 100.00

%




7.0 MARKET COMMENTARY:

A thorough investigation of all categories of property was undertaken for the 2015 revaluation program to determine the state of the market. A cornerstone of this investigation involved the analysis of as many sales of vacant land, site values and improved sales as was necessary to determine the level of value as at the 1st July 2015 Base Date. Sales analysed by category: Residential 200 Commercial 52 Industrial 9 Undetermined -



7.0 MARKET COMMENTARY (Continued) Residential – Overall the residential market within the Canada Bay Local Government Area as at Base Date 1/7/2016 tended to increases generally in line with surrounding areas in the inner west of Sydney. Market transactions investigated suggest this movement was not uniform throughout all suburbs whereby some areas and property types performed better than others. For example single residential sites in the western part of the municipality, in particular Rhodes East and Concord West showed the strongest increases, where values showed the influences of proposed zoning changes, were coming off lower base values, are generally larger than other parts of the municipality and where the underlying zoning allows for density development. Density sites zoned single residential generally showed increases from the previous reporting year, moving in a band of 11-59%, with Waterfront sites showing the lowest increase of 11.7%. A limited supply of property for sale and the low interest rates helped to maintain the strong increases in value levels in the residential sector across the Canada Bay LGA between Base Date 01/07/2015 and 01/07/2016. Demand for high density unit and medium density sites and the finished product itself remained high over the preceding year ending 1st July 2016, whilst underlying demand seems to have increased markedly. Rises in residential rentals mostly fuelled by housing affordability, abolishment of stamp duty exemption for first home buyer on purchases of existing homes from 1st January 2012 onwards and increased demand from investors, particularly SMSF activity is believed to be underpinning this demand. Commercial / Retail – Both the commercial and retail property markets within the Canada Bay Local Government Area have remained bouyant, which can be attributed in part to low interest rates, steady rental growth and increased demand for mixed use development sites, particularly those with residential potential. Canada Bay commercial office occupancy rates have remained low over the preceding year ending 1st July 2016, with no new supply currently affecting this equilibrium. This trend is set to continue for the short term however midterm prospects appear likely to shift to higher occupancy rates as the volume of office space increase as several projects come on stream. Over the 2015/2016 reporting year the volume of commercial, retail and office property transactions this year slightly increased over the preceding reporting year.

Unlike the stock-market, any impact upon the real estate market is dependent on consumer confidence and any regulatory/monetary policy changes. Hence in the short term value levels are expected to hold.

There have been a number of commercial sales in the Canada Bay Area both under one million dollars and over one million dollars. The major sales include: Neighbourhood Centres

134 Lyons Rd, Drummoyne Sold January 2015 for $1,850,000 Area 417.3m2 276 Great North Rd, Wareemba Sold April 2015 for $1,700,000 Area 303.5m2 405 Concord Rd, Concord West Sold September 2015 for $3,275,000 Area 480.6m2 189 Concord Rd, North Strathfield Sold May 2015 for $1,070,000 Area 215m2



7.0 MARKET COMMENTARY (Continued)

Mixed-Use Developments

227 Victoria Rd, Drummoyne Sold June 2016 for $2,300,000 Area 430m2 92 Majors Bay Rd, Concord Sold Nov 2015 for $5,988,000 Area 262m2 97 Majors Bay Rd, Concord Sold May 2015 for $5,310,000 Area 497m2 70 Majors Bay Rd, Concord Sold May 2015 for $4,535,000 Area 415m2 29 Marquet St, Rhodes Sold Dec 2015 for $13,000,000 Area 2,497m2 146 First Ave, Five Dock Sold June 2015 for $5,000,000 Area 493m2 96 Great North Rd, Five Dock Sold May 2015 for $4,500,000 Area 657m2 19 Lyons Rd, Drummoyne Sold Feb 2016 for $3,075,000 Area 553m2 141 Great North Rd, Five Dock Sold March 2015 for $2,300,000 Area 177m2

Business Sites – Main Roads & Others

29 Parramatta Rd, Five Dock Sold Aug 2015 for $1,900,000 Area 664m2 129-131 Parramatta Rd, Concord Sold April 2015 for $4,100,000 Area 563m2 77 Parramatta Rd, Five Dock Sold Feb 2015 for $1,525,000 Area 462m2 2A Burwood Rd, Concord Sold April 2016 for $2,260,000 Area 215m2 10 Burwood Rd, Concord Sold May 2015 for $1,050,000 Area 215m2 3 Rider Bvd, Rhodes Sold June 2016 for $97,000,000 Area 6,123m2 5 Rider Bvd, Rhodes Sold June 2016 for $138,000,000 Area 4,010m2 1G Homebush Bay Dr, Rhodes Sold May 2015 for $71,000,000 Area 3,400m2

Industrial – The industrial property market within the Canada Bay Local Government Area experienced of strong growth in a particularly active market, following on from previously steady growth over the preceding two years. Most industrial property increased within a band width of between +20 – 30% from Base Date 2015 to Base Date 2016. Owner occupiers, investors and developers all contributed to this effective growth. Overall supply in the Sydney Industrial market have been relatively sluggish with forecasters predicting an undersupply of industrial space over the next 3 years. The expectation of undersupply of industrial space is attributed to the acquisition of city fringe and inner west industrial properties developed or rezoned into residential or mixed-use developments. The industrial property market within the Canada Bay Local Government area has increased over the preceding year, which can be attributed in part to the proposed rezoning and revitalisation of Rhodes East Precinct and the Parramatta Road Corridor Urban Transformation Study but also to the shortage of available industrial land within a 5 to 15 kilometre radius of the CBD.




Sale and Resales within Canada Bay LGA & adjoining districts between 2015 & 2016 40 Archer St, Concord Sold 25/06/15 $1,750,000 Resold 16/09/15 $2,020,000 Shows 15.4% increase

23 Drummoyne Ave, Drummoyne Sold 20/03/15 $2,150,000 Resold 19/11/15 $2,250,000 Shows 4.7% increase

12A Richard St, Five Dock Sold 29/07/15 $1,350,000 Resold 24/06/16 $1,470,000 Shows 8.9% increase

43 Tavistock St, Drummoyne Sold 01/10/14 $1,570,000 Resold 27/06/16 $1,850,000 Shows 17.8% increase

37 Waterview St, Five Dock Sold 06/02/15 $1,600,000 Resold 04/09/15 $1,710,000 Shows 6.9% increase

71 Barnstaple Rd, Russell Lea Sold 22/09/15 $3,910,000 Resold 09/05/16 $4,150,000 Shows 6.1% increase

This result indicates the change in market over a 12-18 month period, but does not reflect if this change was uniform over this time. This result indicates a general upward trend in certain components while a relatively unchanged market in others for residential property as reflected by these six (6) improved sales. The market consensus as to the movement in the residential market is fairly uniform for residential property. Our own sales analysis supported by broader statistics has revealed that the residential market over the 12 month reporting year has increased overall to base date 1/7/2016. Incremental market changes over the period by monthly intervals is harder to interpret from the evidence, other than to infer generally, that in the early part of the reporting year increases were lower than the 2nd




The previous Local Government Valuation Base Date was for Base Date 1st July 2015. There have been a number of significant developments and proposed developments in the Canada Bay LGA from Base Date 1st July 2015 which include:

The redevelopment of Strathfield Triangle – as part of this redevelopment a number of large redevelopment sites have been completed on Parramatta Rd and Hilts Rd.

The continuing redevelopments of Breakfast Point and the Rhodes Peninsula

Kendall Bay Sediment Remediation Project

Rhodes East revitalisation and proposed rezoning

Five Dock revitalisation programme

WestConnex Project - WestConnex Stage 1 (M4 Widening and M4 East) from Parramatta to Haberfield will have the biggest impact on the Canada Bay community. Stage 1 will widen the M4 Motorway from Church Street, Parramatta to Homebush Bay Drive, Homebush, and extend the M4 via tunnels from Homebush to the City West Link/Parramatta Road at Haberfield. The extension has the potential to ease the bottleneck at the end of the M4, saving travel time for motorists and removing cars from our local streets.

The main sales of interest that have occurred since the previous Local Government Base Date 1st July 2012 are: Commercial/Retail

195 Victoria Rd, Drummoyne Sold 19/10/2012 $10.999.990 550.1m *Sold as an operating pub

191 Victoria Rd, Drummoyne Sold 14/12/2012 $2,350,000 430m 15 George St, North Strathfield Sold 24/07/2013 $12,325,000 4,852m 4-8 Ramsay Rd, Five Dock Sold 14/03/2014 $2,640,000 1,393.5m 405 Concord Rd, Concord Sold 31/03/2014 $2,250,000 480.6m 414-416 Lyons Rd, Five Dock Sold 20/08/2014 $1,540,000 613m 23 Marquet St, Rhodes Sold 28/08/2014 $4,500,000 2,037m




118-128 Tennyson Rd, Mortlake Sold 13/09/2014 $6,100,000 1,998m 19A Roseby St, Drummoyne Sold 08/10/2014 $310,000,000 4.184H

*Sale of Birkenhead Shopping Centre and other associated structures

121-123 Great North Rd, Five Dock Sold 11/11/2014 $3,535,000 458.8m 181 First Ave, Five Dock Sold 12/06/2015 $6,402,000 860m

12 Walker St, Rhodes Sold 08/09/2015 $1,960,000 687.4m 14 Walker St, Rhodes Sold 22/10/2012 $2,800,000 682.4m 16 Walker St, Rhodes Sold 21/09/2012 $1,700,000 67809m

*DA Lodged 12/03/2014 for 4-8 Ramsay Rd, Five Dock to demolition/retention/conversion and use of entire site as child care centre for 90 children. DA approved 05/08/2014 *DA Lodged 04/08/2014 for 15 George St, Strathfield for the use of part of the site as a primary school for up to 120 children in Kindergarten to Year 2. *DA Lodged 07/11/2014 for 414-416 Lyons Rd, Five Dock to demolition/construction of shop top housing to include 3 ground floor tenancies, 7 residential units, over basement parking. Decision is currently pending. *DA lodged 11/06/2015 against 16 Walker St for construction of a 7 storey mixed use development. Decision is currently pending

Enterprise Corridor:

49 Parramatta Rd, Concord Sold 06/06/2013 $12,500,000 2,262m 2A Parramatta Rd, Strathfield Sold 23/07/2013 $3,150,000 393.4m 77-79 Parramatta Rd, Concord Sold 10/04/2014 $4,200,000 2,339.7m 61 Parramatta Rd, Five Dock Sold 06/11/2014 $24,500,000 8,662.3m 57 Manson Rd, Strathfield Sold 07/11/2014 $3,300,000 523m 129-131 Parramatta Rd, Concord Sold 28/04/2015 $4,100,000 562.8m 1G Homebush Bay Dr, Rhodes Sold 08/05/2015 $71,000,000 3.40H

*31/12/2012 DA lodged for 2A Parramatta Rd, Strathfield to construction of mixed use building – 26 res units, 2 commercial over basement parking. Approved 16/10/2013 *23/01/2015 DA Approved for 129-131 Parramatta Rd, Concord to demolish exiting 2 shops and construct 15 residential units and 77m of commercial space.

Industrial:

5 Averill St, Rhodes Sold 16/09/2013 $2,310,000 1,372m 12 Leeds St, Rhodes Sold 23/08/2013 $1,725,000 1,288m 14 Leeds St, Rhodes Sold 23/08/2013 $2,025,000 1,306m 147 Parramatta Rd, Five Dock Sold 19/11/2013 $5,500,000 2,573m 19 Leeds St, Rhodes Sold 23/04/2014 $2,000,000 1,208m 19-21 Regatta Rd, Five Dock Sold 15/10/2014 $2,950,000 1,186m




Medium Density – Residential:

2 Teviot Ave, Abbotsford Sold 11/10/2012 $4,450,000 1,492m 8-20 Hilly St, Mortlake Sold 20/06/2013 2.94 H 29 Hilly St, Mortlake Sold 15/04/2015 $2,200,000 186 Great North Rd, Five Dock Sold 17/04/2015 $18,750,000 8,828m

*DA Lodged 31/7/2012 for 2 Teviot Ave, Abbotsford to demolish existing dwelling and construct 6 units over 4 levels with 19 car parking levels. Approved L&E Court 08/03/2013 *DA Lodged by Purchaser on 20/12/2013 for 8-20 Hilly St, Mortlake to demolish the improvements on 8-20 Hilly, 1a, 1b, & 1 Northcote, 21-31 Edwin St, 1-9, 15 & 20 Bennett St, Mortlake & construct 15 bldgs over 3 sites containing 430 units.

Sales analysed by category: 2013-2014 2014-2015 2015-2016 TOTAL Residential 228 191 200 619

Commercial 46 37 52 135

Industrial 8 2 9 19



8.0 VERIFICATION:

The Verification and Handcrafting in Canada Bay LGA since the last Local Government Base Date 01/07/2016 included but was not limited to:

Residential Components: o FDD, EQQ, EWW, RFF, RPP – all properties within these components were

verified. o FAA (92%), FEE (98%), EAA (87%), RSS (51%), RHH (39%), EAD (65%),

EDB (56%), LER (47%) – several properties within these components were verified.

Business Components: o CVN, SGG, SSS, FBB, CAA, SXX, LBR, LAR, CVP, DRR – all properties

within these components were verified. o CCC (72%), SLL (98%), CVM (97%), SFF (93%), SVV (86%), SBB (44%),

SBP (74%) – several properties within these components were verified.

Industrial Components: o DWW – all properties within this component were verified. o DAA (97%), DLL (82%), DPP (67%), DSS (92%), DZZ (86%) – several

properties within these components were verified.

All Other Components: o ECF (50%), KGG (75%), KRR (27%), KPR (40%), JCC (50%), JEE (38%),

JRR (55%), LMM (38%), LXX (33%) – several properties within these components were verified.



9.0 MANAGEMENT OF COMPONENTS, HANDCRAFTING & VERIFICATION Sales analysis undertaken for the 2016 revaluation program revealed several anomalies in value levels that mass valuation techniques alone could not rectify. Handcrafting, of either individual property or by the use of secondary factors was required to realign several components or part components. Verification and Handcrafting in the Canada Bay LGA for the 2016 program included but was not limited to:

Component FAA – 92% of properties within this component were verified.

Component FDD – All properties within this component were verified.

Component EQQ – All properties within this component were verified.

Component EWW – All properties within this component were verified.

Component RFF – All properties within this component were verified

Component RPP – All properties within this component were verified

Verification Program 2017 (to be determined by consensus with District Valuer)

Investigate the worthiness and suitability of some smaller components such as the Five Dock RS component into several suburb based smaller components.

Verification of some Residential Components following consultation with Contract Manager.

Proposed Components for 2016 Verification:



10.0 QUALITY ASSURANCE

In accordance with Southern Alliance Valuation Services Pty Ltd own internal QA manual and the Office of the Valuer General Guidelines, the following quality checks have been made in the delivery of this program: Ensuring all properties have been valued. Ensuring the valuations are within the set parameters. That a zone/component code integrity check has been made. An in depth value check on those properties that have considerably higher values in relation to

the average for land. Ensure that current and proposed Development Control Plans and planning changes that affect

the valuations have been taken into account. Where the land value of a property has been amended on objection, the alignment of values

with nearby properties has been checked. That all Statutory concession valuations and allowances have been supplied, including -

Allowances for development on and off the land. Heritage Values. Land Rating Factors. Apportionment of Values. Mixed Development Apportionment Factors.

The following statistical checks have been carried out for residential zoned properties. Coefficient of Dispersion (COD)

This measures the relative consistency and, when viewed with the other measures, the relative accuracy of values in relation to the sales. It shows the amount of variation or the consistency of the values and also the relative accuracy of the values as the relationship between values and sales widens.

The accepted measure for the COD is 0 – 15.

Mean Value to Price Ratio (MVP)

This calculates the mean relative accuracy, or level of values, relative to the sales. It shows the mean level of accuracy of the values assigned compared to the sales evidence. The MVP is to be calculated only in single dwelling residential categories, including rural home site areas.

The accepted measure for the MVP is 85-100%. Price Related Differential (PRD)

This test measures the progressive value to sale relativity across the range of values in the sample. It demonstrates the variations of relativity between the sales and the assigned values and indicates if there is a progressive change in relativity across the value range.

The accepted measure for the PRD is 0.98 – 1.03. The results, from all sales analysed and classified as market data sales are appended to this report.



Purpose of this Report

The purpose of this report is to describe the process and considerations for the 1st July 2016 General Valuation of Canada Bay Local Government Area. The report has been produced on behalf of the Valuer General. The land values have been specifically made for rating and taxing purposes. Land values produced as part of this process should not be used for any other purpose without the specific agreement of the Valuer General. Land values must have regard to specific requirements and assumptions in rating and taxing legislation. Consequently these valuations may vary from market levels. The land values were made using a mass valuation process that involves assessing large numbers of properties as a group. While valuations have been prepared with all due care, mass valuations are, by their nature, likely to be less accurate than individually assessed valuations. Town planning, land use and other market information contained in this report has been compiled based on enquiries undertaken during the valuation process. Third parties should make their own inquiries into these details and should not rely on the contents of this report. The Valuer General disclaims any liability to any person who acts or omits to act on the basis of the information contained in this report. More information on the valuation process is available from the Department of Lands website at www.lands.nsw.gov.au

George Veris Burwood Area Manager Southern Alliance Valuation Services Pty Ltd

Canada Bay Final Report 2016 V2


ANNEXURE ‘A’: CANADA BAY DA REGISTER

PID Zone ADDRESS DA NO. LODGED DATE

DECISION DATE

DETAILS COMMENTS

1905909 R2 17 Millar St, Drummoyne DA 459/2014 17/11/2014 Approved 26/03/2015

Substantial alterations and additions to existing building and use of the site as a residential aged care facility providing care for 161 persons with basement parking for 75 vehicles.

1450492 B1 424 Concord Rd, Rhodes DA 479/2014 27/11/2014 Pending

Demolition of existing structures and construction of a new 4 storey mixed use building comprising of a boarding house with 27 rooms, café at ground floor , basement services level and roof terrace.

SOLD 25/04/2014 $1,800,000

1449817 R3 4 Cavendish St, Concord

West

DA 0497/2014 15/12/2014 Approved 29/04/2015

Demolition of existing dwelling and construction of new multi dwelling housing development comprising 14 dwellings (townhouses) with basement parking

SOLD 03/10/2014 $900,000


West SOLD 03/10/2014

$1,900,000


West SOLD 03/10/2014

$1,900,000

1449820 R3 10 Cavendish St, Concord West

SOLD 03/10/2014 $1,350,000

1452828 R2 64 George St, North

Strathfield DA 0498/2014 15/12/2014

Approved 24/03/2015

Demolition of existing dwelling and construction of an attached dual occupancy with strata title subdivision

SOLD 12/04/2014 $1,206,500

1899779 R2 1 Cook Ave, Canada Bay DA 0514/2014 17/12/2014 Approved 19/06/2015

Demolition of existing structures and construction of a new two storey attached dual occupancy and strata subdivision

SOLD 21/07/2014 $1,250,000

1455324 R2 2 Nirranda St, Concord

West DA 0004/2015 8/01/2015 Pending

Demolition of existing dwelling and construction of new two storey attached dual occupancy

SOLD 07/12/2013 $1,065,000

1451055 R2 85 Correys Ave, Concord DA 0016/2015 19/01/2015 Approved 12/10/2015

Demolition of existing dwelling and construction of new two storey dwelling and secondary dwelling within rear yard

SOLD 01/03/2014 $1,285,000

1454534 R2 165 Majors Bay Rd,

Concord DA2015/0052 24/02/2015

Approved 24/08/2015

Demolition of existing dwelling and construction of new 2 storey attached dual occupancy with in‐ground pools to the rear and subdivision.

SOLD 15/05/2014 $1,550,000




DECISION DATE

DETAILS COMMENTS

1454602 B4 64 Majors Bay Rd,

Concord DA2015/0086 18/03/2015 Pending

Demolition of existing structures and construction of a mixed use development comprising 30 residential units, basement car parking for 61 vehicles and associated landscaping.

1910327 R2 364 Victoria Place,

Drummoyne DA2015/0077 17/03/2015 Pending

Demolition of existing dwelling, car mechanic repair building and site storage shed and construction of a new 5 storey, 9 unit residential flat building including in‐ground pool and landscaping.

SOLD 30/09/2014 $4,640,000

1903722 R1 8 Hilly St, Mortlake DA2015/0062 5/03/2015 Pending

Construction of a residential flat building consisting of 64 dwellings with 11x1 bed, 50x2 bed and 3x3bed units over basement parking for 105 vehicles, public infrastructure upgrades and associated landscaping.

Sold 20/06/2013 $61,500,000

1450424 B1 375A Concord Rd, Concord West

DA2015/0114 10/04/2015 Pending

Demolition of existing structures and construction of a four storey mixed use development comprised of ground floor commercial use and 16 residential units over three levels of basement car parking

1910874 B4 77‐79 Victoria Road,


Demolition of all structures and construction of mixed use building of six storeys to Victoria Road and stepping down to two storeys to Formosa Street containing 164 dwellings, 509m of retail, 688m2 commercial space; basement parking for 314 vehicles

1454000 R2 60 Links Rd, Concord DA2015/0171 22/05/2015 Pending Demolition of existing dwelling and structures and construction of new two storey attached dual occupancy with strata subdivision

1453023 R2 27 Gloucester St,


Demolition of existing structures and construction of a new two storey attached dual occupancy with strata subdivision

SOLD 09/02/2015 $1,481,000

1449686 R2 1A Cabarita Rd, Concord DA2015/0150 7/05/2015 Pending Demolition of existing dwelling and construction of new two storey attached dual occupancy and strata subdivision

1907356 B4 67 Ramsay Rd, Five Dock DA2015/0219 25/06/2015 Pending

Demolition of existing structures and construction of a four storey shop top housing development with basement car parking, ground floor retail premises and nine residential units

SOLD 28/10/2014 $1,260,000




DECISION DATE

DETAILS COMMENTS

1903555 R2 93 Henley Marine Drive,

Russell Lea DA2015/0205 18/06/2015 Pending

Demolition of existing dwelling and construction of new two storey dwelling and demolition of fibro garage and alterations and additions to existing brick garage to create a secondary dwelling

1908240 R2 59 St Albans St, Abbotsford

DA2015/0198 12/06/2015 Pending Construction of a new two storey attached dual occupancy

1457392 B4 16 Walker St, Rhodes D2015/0191 11/06/2015 Pending

Demolition of existing structures and construction of a 7 storey mixed use development over basement parking for 19 vehicles and comprising ground floor tenancy and 4 x 1 bedroom and 10 x 2 bedroom units

SOLD 21/09/2012 $1,700,000

1457391 B4 14 Walker St, Rhodes DA was for 16 Walker St but could possibly include 12 & 14 Walker St.

SOLD 22/10/2013 $2,800,000

1457390 B4 12 Walker St, Rhodes SOLD 08/09/2015

$1,600,000

1903924 R2 8 Ingham Ave, Five Dock DA2015/0268 22/07/2015 Pending Construction of a secondary dwelling in rear yard adjoining approved garage

1450875 R2 13 Corby Ave, Concord DA2015/0259 20/07/2015 Pending

Alterations and additions including new first floor to existing dwelling and construction of a new two storey dwelling to rear to form a detached dual occupancy

SOLD 23/12/2014 $1,477,000

1899026 R2 44 Campbell St, Abbotsford

DA2015/0235 3/07/2015 Pending Demolition of all structures, Torrens Title Subdivision to create two lots, construct a new two‐storey dwelling over basement parking on new allotment

1451320 R2 37 Currawang St,


Demolition of existing single storey dwelling and construction of attached two‐storey dual occupancy

SOLD 24/02/2015 $1,490,000

1905405 B1 197 Lyons Rd, Drummoyne

DA2015/0297 10/08/2015 Pending

Demolition of existing structures and construction of a new mixed use development comprising 2 x ground floor cafes and parking with 15 residential units above

SOLD 17/06/2014 $1,300,000

1905403 B1 199 Lyons Rd, Drummoyne

SOLD 13/06/2014

$1,175,000




DECISION DATE

DETAILS COMMENTS

1898887 R2 52 Burns Cres, Chiswick DA2015/0331 28/08/2015 Approved 20/05/2015

Construction of a new attached dual occupancy and swimming pool and cabana at rear

3442495 R1 17B Tennyson Rd,

Mortlake DA2015/0312 18/08/2015 Pending

Demolition of existing building and construction of a new three storey shop top housing development with basement parking

1907233 R2 134‐136 Queens St,


Construction of a new secondary dwelling within rear yard of site

1454226 R2 9 Lorraine St, North

Strathfield DA2015/0304 11/08/2015 Pending

Demolition of existing dwelling and structures and construction of new two storey attached dual occupancy with subdivision

SOLD 25/05/2015 $1,730,000

1447874 R2 40 Archer St, Concord DA2015/0303 11/08/2015 Pending Demolition of existing dwelling and construction of an attached two storey dual occupancy and strata subdivision

SOLD 26/06/2015 $1,750,000

1905403 1905405

B1 197‐199 Lyons Rd,


Demolition of existing structures and construction of a new mixed use development comprising 2 x ground floor cafes and parking with 15 residential units above

#197 SOLD 17/06/2014 $1,300,000

#199 SOLD 13/06/2014 $1,175,000

1450530 R2 328 Concord Rd,


Demolition of existing dwelling and construction of new two storey attached dual occupancy

1453098 R2 11 Harrison Ave, Concord West

DA2015/0376 29/09/2015 Pending Construction of a new two storey attached dual occupancy and strata subdivision

1898887 R2 52 Burns Cres, Chiswick DA2015/0372 24/09/2015 Approved

Demolition of existing structures and construction of a new attached two storey dual occupancy development with lower level parking and swimming pools to rear

1450613 R2 150 Concord Rd, North


Demolition of existing dwelling and construction of a new two storey attached dual occupancy

SOLD 27/07/2015 $1,700,000

Lot53 DP270347

R3 19‐21 Tennyson Rd, Breakfast Point

DA2015/0364 17/09/2015 Pending Construction of four detached two storey dwellings, associated landscaping and Torrens Title subdivision

1898074 R2 9 Blackwall Point Rd,

Chiswick DA2015/0359 15/09/2015 Pending

Demolition of existing dwelling and construction of a new two storey attached dual occupancy with basement and swimming pools to the rear

SOLD 10/07/2015 $2,515,000




DECISION DATE

DETAILS COMMENTS

1456904 R2 1 Tenterfield St, North


Construction of a new two storey attached dual occupancy and strata subdivision

SOLD 06/08/2015 $1,415,000

1454436 B4 21 Majors Bay Rd,

Concord DA2015/0349 8/09/2015 4/11/2016

Demolition of existing structures on‐site and construction of a new three storey mixed use building comprising ground floor commercial unit and a boarding house with basement parking

1450777 R2 16 Consett St, Concord

West DA2015/0343 4/09/2015 Pending

Demolition of existing dwelling and construction of a new two storey attached dual occupancy with strata subdivision

SOLD 10/08/2015 $1,795,000

1455523 B6 77‐79 Parramatta Rd,

Concord 4 Melbourne St, Concord

DA2015/0335 1/09/2015 Pending

Demolition of existing structure on‐site and construction of a new two storey building comprising ground floor, warehouse and showroom and first floor office with access and car parking from No. 4 Melbourne Street

SOLD 10/04/2014 $2,000,000

1910815 B4 170 Victoria Rd, Drummoyne

DA2015/0402 12/10/2015 Rejected

15/10/2015

Retention of existing façade in heritage conservation area and construction of a residential apartments to the rear.

SOLD 18/10/2012 $800,000

1901210 R3 27 Fitzroy St, Abbotsford DA2015/0400 9/10/2015 Pending Demolition of existing dwelling and construction of an attached dual occupancy with strata subdivision

SOLD 31/05/2015 $1,410,000

1908876 R3 27 St Georges Cres,


Demolition of existing dwelling and construction of a three storey residential flat building with basement car parking

SOLD 20/08/2015 $3,750,000

1900556 B4 46 East St, Five Dock DA2015/0437 3/11/2015 7/11/2016

Demolition of existing dwellings and structures, consolidation of two lots into one site and construction of a five storey residential flat building, comprising 23 residential apartments, two level basement car park for 24 spaces and associated landscaping



ANNEXURE ‘B’: PAIRED SALES ANALYSIS

Sale No.

Component

Address

PhotoSite Area

m2 Sale Date Sale Price

Adj. Sale Price at Base Date Improvements

Main Dwelling Est GBA

m2

Out‐dwellings / deck / verandahs EST m2

Adjusted Land Value 1/7/2016

Added Value of Impts

Land Value Rate/m2

Value of Imp $/m2

Overall

$m2 Main Dwelling

$m2 Outbuildings

Fencing & Landscaping & Pool

(if applicable)

1 EGE 37 DARLEY ST NEWTOWN

208.70 26/11/2015 $905,000 $925,000 Site sale, sold for unpaid rates by council. Swat in very poor condition. Council warn that premisis is a health hazard. Sold with V.P.

N/A N/A $925,000 $4,432.20 N/A

2 EGN 26 MALAKOFF ST MARRICKVILLE

185.93 5/03/2016 $900,000 $900,000 Site Sale consisting of an existing timber framed weatherboard clad & tile dwelling in fair condition.

90 6 $760,000 $140,000 $4,087.56 $1,458

3 EAH 13 CENTENARY AVE, HUNTERS HILL

714.50 2/04/2016 $1,590,000 $1,590,000 Site sale comprising 3 bedroom concrete block & GI dwelling with garage UMR presenting in fair condition. Improvements add little value in this market though liveable condition.

95 15 $1,420,000 $170,000 $1,987.40 $1,545

EKK 1 A FREEMAN PL, CONCORD

371.55 23/12/2015 $1,380,000 $1,380,000 Saite sale of a 2 storey detached brick & weather boad dwelling with GI roof and undercover parking and utility areas and presenting in fair condition. ADVERTISED AS FOLLOWS. Nestled quiet and private in Concord opposite the lush green fairways of The Golf Course, this warming family home with a very practical floor plan is the perfect blend of classic style and relaxed living. ‐ Three spacious bedrooms, Private leafy outlook over golf course at rear‐ Timber Flooring throughout property‐ Neat kitchen over looking the backyard ‐ Split system Air‐conditioning ‐ Large separate living and dining areas‐ Easy walk to Majors Bay Rd, schools and public transport‐ Ample storage space and large balcony area‐ Private gates surrounding the property‐ Large undercover entertaining area with kitchenette

130 5 $1,172,000 $208,000 $3,154.35 $1,541

ESE 7 PARKHILL ST CROYDON PARK

366.7 5/09/2015 1050000 1050000 Post war single storey bric and tile dwelling in original condition and presenting in fair condition throughout. ADVERTISED AS FOLLOWS. Nestled in a tightly held whisper quiet cul‐de‐sac setting is this quaint freestanding residence offering the perfect blank canvass. Past its well kept gardens you will find spacious bedrooms leading to a sun filled living and dining area, it's perfectly placed kitchen with skylight overlooks the private and leafy rear yard and lock up garaging. Now featuring: Three bedrooms,Spacious living and dining areaWell kept original kitchen with skylightNeat bathroomSeparate laundry roomPrivate rear yardSide drive to lock up garage

90 10 865000 $185,000 $2,358.88 $1,850

ELL 3 EDEN AVE, CROYDON PARK

461.60 25/09/2015 $1,100,000 $1,100,000 A single storey weather board and tile 3 bedroom dwelling in average condition throughout. ADVERTISED AS FOLLOWS. Full of the charm and character of a bygone era, the north facing cottage has been tastefully updated for relaxed family living and easy indoor/outdoor entertaining. The home is tucked away in peaceful street, enjoying easy access to schools and shops.‐ Spacious level layout featuring a choice of living areas‐ Beautiful deep garden plus covered alfresco entertaining‐ Private lawns with plenty of space for children to play‐ Contemporary gas kitchen equipped with casual meals space‐ Three light filled bedrooms include main with built‐in robes‐ Well presented bathroom, separate laundry, air conditioning‐ Superb condition throughout and ready to move straight into‐ Opportunity for further modernisation/development (STCA)Off street parking walk to buses and near train stations

140 30 $812,000 $288,000 $1,759.10 $1,694

3 ELL 8 ALBERT ST ROZELLE

177.00 23/10/2015 $1,200,000 $1,200,000 Improvements comprise a semi‐detached single storey brick & tile Federation terrace presenting in average condition throughout. ADVERTISED AS FOLLOWS. Settle right into this solid federation semi or embrace this rare opportunity to extend and update. Loved by the same owner for thirty years, this is an absolute gem amidst Rozelle's village charm, near the light rail and only 3.5km from the CBD.‐ Generous (170sqm+) land with side pedestrian access ‐ 2 double bedrooms, separate living, spacious e/in kitchen ‐ Original sandstone frontage with front deep verandah‐ Delightful child friendly lawned garden and rear patio ‐ A second level would capture dramatic city views (STCA)‐ Vintage charm, high ornate ceilings, working fireplace‐ 100m Easton Park, stroll to cafes, Darling St and transport

90 10 $933,500 $266,500 $5,274.01 $2,665

4 EGE ENMORE 397.80 13/02/2016 $1,495,000 $1,495,000 A renovated Californian Bungalow. Single Storey dwelling constructed from double brick with tile roof. The foundation's are brick. Advertised as follows ‐ Position, size and charm in a character bungalow. This classic bungalow offers a great opportunity to secure a large character property in a premier setting. It makes an exciting prospect and is presented in immaculate condition with well preserved interiors, tasteful updates and lots of future potential. A spacious floorplan features generous lounge and dining High ceilings, polished floors and many original details, Three double bedrooms include two with large built‐in robes,Separate study/fourth bedroom plus sunroom at the rear, Well appointed kitchen and main bathroom with spa bath, Lock‐up garage with storage, carport and driveway parking, Ducted air conditioning, internal laundry and extra bathroom

120 22 $1,141,000 $354,000 $2,868.28 $2,493

5 EGE 32 SIMMONS ST, NEWTOWN

174.77 3/03/2016 $1,287,500 $1,287,500 An Good quality Federation Terrace Single Storey dwelling constructed from brick with tile roof. The foundation's are brick. ADVERTISED AS FOLLOWS: This classically presented terrace has been enhanced by some tasteful updates that give it extra style and appeal. It represents an excellent buying opportunity for those seeking a fresh and easycare home with lots of original character, smart modern finishes and a superb lifestyle location in a leafy section of Newtown. Step out the front door and it's a few minutes' stroll to the Enmore Road's cafe and bar scene, as well as Enmore Park and King Street's dining and entertainment options. A generous floorplan with flexible living optionsTwo large bedrooms, + additional utilities room (with built‐in storage)Separate study areaContemporary stone kitchen and gas fittingsLeafy courtgarden and private alfresco areaSleek modern bathroom, laundry plus extra w/cSkylights, polished floors and marble fireplacesSeemless blend of original features and modern conveniences

105 5 $953,750 $333,750 $5,457.17 $3,034

6 EST 30 STANLEY ST TEMPE

297.20 20/04/2016 $1,280,000 $1,280,000 An average quality Federation dwelling. Single Storey dwelling constructed from brick with tile roof. The foundation's are brick. ADVERTISEMENT AS FOLLOWS Tightly held by its owners for over 40 years, this Federation bungalow awaits a new chapter in its history. Nestled in the suburb's best street, this home is liveable as is, however offers scope to update to your personal taste and add value (STCA). Solid brick construction with double‐fronted street presence, Three well‐proportioned bedrooms, Functional & neat kitchen with gas cooking, Large separate living and dining spaces, Neat & tidy bathroom with combined shower and bathtub

105 10 $984,000 $296,000 $3,310.90 $2,574

7 EGG 23 ABBOTSFORD RD, HOMEBUSH

923.10 17/12/2015 $1,880,000 $1,880,000 Large improved property comprising a single storey detached 3br double brick & tile Federation dwelling presenting in average condition throughout. ADVERTISED AS FOLLOWS. 'HUGE BLOCK 923M2This charming 3‐4 bedroom federation home is located on a fabulous 923m2 block (15.24m x 60m).Sound original condition throughout with comfortable layout & attic room. Side drive to 2 car Lock‐up garage, huge yard, gardens & sunny north aspect.Near to both Strathfield & Homebush centres & all the best schools.Tremendous potential for improvement'.

160 10 $1,430,000 $450,000 $1,549.13 $2,647

8 EJJ 4 ALEXANDRA AVE, CROYDON

455.91 27/11/2015 $1,730,000 $1,730,000 Large improved property comprising a single storey detached 3br double brick & tile Californian Bungalow dwelling presenting in average condition throughout. ADVERTISED AS FOLLOWS. Well positioned in one of Croydon's most sought after tree lined streets this home is being offered for the first time in approx. 30 years. Retaining its highly decorative ceilings and exposed timber joinery throughout its spacious interiors making it ideal for those families looking to create their dream home and located within close proximity to parks, schools and transport Three bedrooms Separate lounge & dining rooms Rear family/rumpus room Patterned ceilings and original timberwork Kitchen with walk in pantry Side vehicle access to carport Garage/teenagers retreat Neat well maintained rear garden Land size: 440sqm approx. Features: air conditioning & lead light windows

160 25 $1,241,750 $488,250 $2,723.67 $2,639

9 ESS 81 DAVIDSON AVE, CONCORD

538.27 21/11/2015 $1,660,000 $1,660,000 Constructed on site in a single storey detched brick & tile Art Deco dwelling appearing in original condition throughout. ADVERTISED AS FOLLOWS. This attractive Art Deco brick residence offers buyers an excellent opportunity to secure a substantial home in a location renowned for its popular family convenience. Ideally set on the high side of the road, the property has never been on the market before and is now offered for the first time in 70 years. It is presented in solid and comfortable order with generous interiors, many preserved period features and a deep level landholding.The interior layout is well proportioned and features a formal lounge room and a separate dining area. There are three double bedrooms plus a formal dining/fourth bedroom, a tidy gas kitchen and a pristine 1940s‐style bathroom. An added bonus is the large studio at the rear which has its own entry. The home is embraced by beautifully maintained and established gardens; there is also a lock‐up garage and additional driveway car spaces. All the elements are here to add tremendous appeal and make a great modern living space in a sought‐after position that is walking distance to North Strathfield train station, Majors Bay Road shops and many of the area's great schools.

140 10 $1,287,000 $373,000 $2,390.99 $2,487

10 EHH 16 KINGSTON ST HABERFIELD

695.60 13/12/2015 $2,400,000 $2,400,000 Improved property comprising a grande single storey detached double brick & tile Federation dwelling presenting in original condition throughout. ADVERTISED AS FOLLOWS. Behind its picturesque facade of classic character, this beautiful Queen Anne‐style Federation home is a well preserved period residence with a refined sense of history. ‘Henriette’ c1905 is full of traditional charm and showcases a generous interior layout with fresh, bright living spaces, meticulously restored original details and an expansive 697sqm landholding. The proud past is evident in the wide hallway and gracious lounge room featuring high ornate ceilings, freshly polished floors and gorgeous marble fireplaces. There are four bedrooms, a light filled kitchen plus a separate dining room, airy sunroom and a full bathroom.

160 20 $1,900,000 $500,000 $2,731.45 $2,778

11 EAS 37 CARLISLE ST LEICHHARDT

194.31 28/11/2015 $945,000 $945,000 Improved property comprising a small single semi‐detached 1 br brick & tile Vicotrian tarrace presenting in original condition throughout. ADVERTISED AS FLLOWS ‐A split level home featuring a deep garden setting over 200sqm block oozing loads of potential. Original in condition with much character, the property is only a stroll to Norton Street and the convenience of great restaurants, cafes and shops. A marvellous opportunity to add value and transform into a large family home, this well‐maintained property will attract renovators, first home buyers and investors: Original Kitchen, bathroom with separate laundry and ample storage* Carpeted with timber floor boards beneath and good ceiling height* Fantastic oversized garden great for entertaining friends and family* Great location close to light rail, buses, Palace cinema and shopping centres

60 5 $774,000 $171,000 $3,983.33 $2,631

EAH 42 BLAXLAND ST, HUNTERS HILL

659.30 28/11/2015 $2,225,000 $2,225,000 A good quality period Californian Bungalow constructed of weartherboards & tile roof. ADVERTISEMENT AS FOLLOWS. Behind a classic weatherboard façade lies a family home with wow factor! Here's a very special home ‐ there's privacy, seemless in/outdoor flow, a layout to suit family living and a beautiful garden. Marble kitchen with s/steel appliances Northwest‐facing living space, gas fire Bi‐fold doors link the inside to outside Large covered deck for entertaining Spacious bedrooms with built in robes King master, French doors to veranda 2nd living area or 4th bed, Jarrah floors Stylish bathrooms with marble floors Manicured landscaped garden/lawns LUG + workspace + additional parking

207 10 $1,686,000 $539,000 $2,557.26 $2,484

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32

Notes:The ‘Paired Sales Approach’ was used throughout the Marrickville LGA whereby, the land value

demonstrated by vacant land sales is to be taken from the sale price of improved properties to determine

the added value of the improvements. The table below details the results from this analysis for the

Marrickville Local Government Area. The schedule provided is general in nature and each analysed sale is

assessed individually when determining the added value of improvements to capture specific features e.g.

Repacement Cost Approach

The replacement cost approach may be relied on in circumstances where there are low volumes of vacant lan

The replacement cost approach is based on the principle that the informed purchaser would pay no more than

The replacement cost method avoids having to make a hypothetical adjustment for depreciation by allowing

for the costs to bring the sale property to an as new condition.

Costs are based on buildings as similar as possible to the existing building. Further allowances may be required

COUNCIL BACKS SPACES TO PLAY IN BAYS PRECINCT Tuesday, 3 November 2015

Leichhardt Council will rally local sporting groups in a renewed fight to make sure open spaces and

sporting facilities are included in the development of the Bays Precinct.

The move to hold a Council summit meeting on 1 December follows the Government’s failure to

include any new sporting facilities in their plans for the Bays Precinct.

Leichhardt Mayor Darcy Byrne said the State Government’s had again ignored the desperate need

for sporting fields and open space in the inner west.

“The State’s plans for the massive redevelopment of the Bays Precinct have completely overlooked

the needs of the residents who live here now and the residents who will live here in the future,” said

Cr Byrne.

“The inner west is crying out for open space and places to play. We need to put as much pressure as

we can on the State Government to make it happen while we have this unique opportunity in the

Bays Precinct.”

“Council will host a meeting of peak sporting associations and local clubs to work out a joint

campaign to keep the heat on.

Cr Byrne said Leichhardt Council has already been working to address a significant shortage in both

passive and active open space for existing residents.

“Over the last four years we’ve created three new sporting fields at Callan Park, upgraded two

further fields, opened up new recreational trails in Balmain’s Cameron’s Cove and created a

completely new neighbourhood park in Annandale, with more to come,” he said.

“But the additional pressures of 16,000 more residential units within the Bays Precinct, coupled with

our existing shortage of open space, would place an immense added burden on Leichhardt Council

and our community.

Glenn Burge, convenor of the local Sporting Alliance and their ‘Spaces to Play’ campaign, said local

sporting clubs welcomed the Council summit to advance the shared goals of the campaign.

"The future active open space needs are a critical community need at a time of extraordinary high

levels of new housing development," Mr Burge said.

Canterbury and District Soccer Football Association chief executive Ian Holmes said the State

Government and its agencies were ignoring the needs of community sport in the inner west.

“We have a major health crisis looming with issues around childhood obesity, type 2 diabetes and

associated health issues connected with a lack of physical activity. This will result in an economic

catastrophe for future State Government health budgets. Is this going to be the Baird Government’s

legacy to the taxpayers in this state?”

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Jacob SaulwickPublished: July 7, 2016 - 8:47AM

Property developers, would you believe, are angry at the Baird government.

How could this be?

There are cranes on every corner. Flats and freeways rise, like winter vegetables, from every other block. Walking pastrelics of Sydney's industrial heritage has become an urban hazard: you are at immediate risk of bumping into the pointedshoes of developers scoping apartment potential.

How could anyone in the building game find reason to be angry?

The reason they are angry provides an interesting window into the development failures of Sydney's immediate past,what may happen in the city's future, and why there remains a good chance those failures will be repeated.

The developers are angry because the government did the unexpected and did the dirty on them.

A month ago, the government said it had rejected all 13 tenders that had been submitted, on its invitation, for theredevelopment of the White Bay Power Station near Rozelle.

The redevelopment of the power station is to be one of the first stages of a new boom town on the fringe of centralSydney. The "Bay Area" name having already been taken, the government calls this bay area the "Bays Precinct".

It is largely state-owned land around Glebe Island, the Fish Markets, White Bay and Rozelle and is potentially huge inscope. Barangaroo is 20-odd hectares of government-owned land. The Bays is almost five times the size, and not thatdistant.

So the 13 developers were shocked when, after spending a mooted $1 million each on bids to redevelop the power stationand grab a toe in the Bays, they were all told they were not good enough.

"This is the first I have ever seen this for such a significant site," said one bidder with about three decades' experience. "Itwas a complete U-turn, the industry is scathing," the developer said.

The surprise, at least, is understandable. When the bids came in in March, the chief executive of the agency running theprocess, David Pitchford of UrbanGrowth NSW, said they were of a "very high" and "competitive" standard.

The official explanation for the about-turn is that, on closer inspection, none of the developers offered whatthe government wanted. UrbanGrowth NSW said cabinet requested a high-tech employment hub. But the proposals,UrbanGrowth said, contained too many apartments.

This snub contributed to the unusual air of tension at a breakfast function this week hosted by the developer lobby, theUrban Taskforce.

People who make money from government contracts – such as property developers – are typically loath to bite hands thatfeed out contracts. But teeth were gnashing when Urban Taskforce's Chris Johnson put Pitchford on the spot about whyhe had created all these "negative feelings" about the Bays.

Pitchford was not for apologising. He said he wanted partnerships where developers helped the government get its way,"as opposed to you read what we've asked for, and then give us what you think we need".

But Pitchford's explanation – that the bids were not what was requested – tells only part of the story. And he hinted assuch. "We wanted an outcome that was far different to just the usual schemes that are put forward," he said.

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The context here is that the perception of recent large-scale development projects has dulled the enthusiasm withingovernment to do what it has tended to do with big projects. And that is hand the keys to one developer, and let them sortout the details.

When governments do this, they tend to lock themselves out of any capacity to influence what is going on.

Take Barangaroo. Ever since negotiations started with Lend Lease to develop the southern portion of the site, thedevelopment space has continued to increase, in a way that has not been matched by the capacity for the government toextract a larger pound of flesh – you know, on behalf of the community.

Or the redevelopment of Darling Harbour. Barry O'Farrell and the Coalition were elected in 2011 on a policy ofrebuilding the convention and exhibition centres. Fair enough. And then the contract they signed allowed Lend Lease tobuild about 1000 apartments and 1000 units of student housing. Are any of them slated for key workers such as police orteachers? There is a policy need in this area. But no, that's not in the contract.

Instead of engaging one consortium to manage White Bay and surrounding areas, UrbanGrowth now intends to engagedevelopers to work on smaller parcels.

This approach has been welcomed by urban planners, architects and designers, who say that areas become moreinteresting and varied, and knit together in more human ways, when they are broken down into multiple developmentplots.

To my mind, even though the process of getting here may have been botched, this is a positive development. Italso makes the Bays an interesting test for other development precincts.

And will it work?

At this stage, sadly, probably not. The other message the government received from developers working on White Bay isthat there is little enthusiasm among tenants for moving to an area without access to a rail line.

Which means we are back to where, in Sydney, we so often are: struggling against decades of neglect of public transport.

Jacob Saulwick is city editor.

This story was found at: http://www.smh.com.au/comment/bairds-plan-to-take-on-developers-wont-work-for-one-reason-public-transport-20160706-gpzjax.html

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BAYS PRECINCT – CHATSWOOD BY THE SEA Thursday, 22 October 2015

Leichhardt Mayor Darcy Byrne has responded to the NSW Government’s proposals for a new ‘Silicon

Harbour Park’ at White Bay and Glebe Island by calling for Premier Baird to commit to a mass public

transport system for the Precinct as well as the reopening of the Glebe Island Bridge to pedestrians

and cyclists.

Cr Byrne said the Bays Precinct could be the jewel in Sydney’s crown but its success was entirely

dependent on new mass public transport infrastructure.

“Without a mass public transport system, it won’t be our own Silicon Valley, it will be Chatswood by

the Sea,” Cr Byrne said.

“Former Treasurer Andrew Constance has already said there will be 16,000 new residential units in

the Bays Precinct ‐ that’s more homes than currently exist in Rozelle and Balmain combined.

“The idea that a new business hub, a university campus and high density residential development

can be successfully built in the Bays Precinct without world class public transport is patently absurd.

“As UrbanGrowth CEO David Pitchford has said himself, regeneration of this precinct without metro

rail will be a ‘disaster’.”

“The reopening of the Glebe Island Bridge can create a cycle and pedestrian pathway which will put

the CBD within a 10 minutes stroll of Glebe Island.

“But for the past two years, Roads Minister Duncan Gay has been fighting within Cabinet to have this

crucial transport infrastructure demolished instead of reopened.”

Leichhardt Council’s priorities for the Bays Precinct are:

• World class public transport access;

• Reopening of the Glebe Island Bridge to pedestrians and cyclists;

• Public access to foreshore;

• Up to 30 per cent of all new housing to be not for profit, as all the Government’s expert advisors

have recommended;

• New recreational facilities including an indoor sports centre and multiple outdoor sporting grounds

(Note: Leichhardt Municipality already has the 4th lowest ratio of open space per person of any

community in NSW).

Anne Davies, Leesha McKennyPublished: December 18, 2015 - 7:54PM

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5 of 5 19-Dec-15 11:47 AM

Fair growth for the westBlacktown leads the state as greater Sydney’s land values soar

EDWARD BOYD& JONATHAN CHANCELLOR

EXCLUSIVE

LAND values skyrocketedacross Western Sydney lastfinancial year.

The Daily Telegraph canexclusively reveal five councilsin the region experiencedincredible year-on-year growthof more than 30 per cent.

Blacktown has topped thetables with a whopping 47 percent growth in 2014-15, inflat-

ing the median residential landvalue to $375,000.

Blacktown Acting MayorJacqueline Donaldson was notsurprised with the result, say-ing there had been $1.15 billionworth of development in 2014,second only to City of Sydney.

“The area is the fastestgrowing and best place in Syd-ney to live,” she said. “Therewill be 98,000 additionalhomes in Blacktown by 2036,doubling the current numberto more than 200,000.”

Holroyd and Parramattacouncils closely followed

Blacktown, with growth ratesof 38 and 35.9 per cent. Fairfieldgrew by 33.9 per cent and Au-burn improved by 30.3 per cent.

NSW Valuer-GeneralWSimon Gilkes told The DailyTelegraph that Western Syd-ney had bucked recent trends.

“This is a bit of a shift in thetrend that we have seen in pre-vious years, where it has beenthe closer-in areas that wereexperiencing the strongestgrowth,” he said.

Only four other councils inNSW cracked the 30 per centvalue increase: Canada Bay,

The Hills Shire, Randwick andShellharbour.

Mr Gilkes said the dramaticrises in value were aided by re-cord low interest rates, increasedland supply and increases to per-mitted residential densities.

The increases boost land val-ues across NSW to $1.34 trillion,with five new Sydney councils,Canada Bay, Lane Cove, NorthSydney, Strathfield and Rand-wick, now having a median resi-dential land value of more than$1 million. They join Manly,Willoughby, Hunters Hill, Wav-erley, Woollahra and Mosmanat the top of the market.

Mosman increased in valueby 14.4 per cent, maintaining itsposition as the area with thehighest residential medianvalue at $1.59 million.

Mr Gilkes’ statistics also

revealed parts of the state arestruggling. Values fell in eightregional and rural councils,with Cobar, Muswellbrook andBogan falling the most.

The overall increase for lastfinancial year across NSW was19.64 per cent. This was calcu-lated following an assessmentof almost 2.5 million residen-tial, rural, business and indus-trial plots. This follows anincrease of 11.25 per cent in2014 and 2.5 per cent in 2013.

Mr Gilkes said these latestland values will help NSW’s 152councils determine rates.

THE TOP FIVEBlacktown 47 per centHolroyd 38 per cent

Parramatta 35.9 per centFairfield 33.9 per centAuburn 30.3 FairfieldSource: NSW Valuer General


Matt O'SullivanPublished: November 14, 2016 - 11:39AM

The Baird Government has committed to a new metro rail line between Sydney's central business district and Parramatta,estimated to cost at least $10 billion.

Amid open warfare within the NSW Nationals following the backlash in the Orange byelection at the weekend, thegovernment said it would use funds raised from the $16 billion sale of Ausgrid to pay for the project, intended to relievemounting pressure on Sydney's overcrowded Western Line.

The new rail line, which the government says should be operating in the middle of the next decade, will run driverless,single-deck trains and include new stations at Olympic Park and the Bays Precinct around Rozelle.

Premier Mike Baird said the government wants construction to start on the new line within five years.

But he was short on releasing detail about the cost, the exact route or how many stations would be built. Those aspectswould be subject to talks with industry and the wider community, and a business case for the project.

"We know where the rail link is going to go. What we need to finalise now is both the route, the number of stations andthat one of the great things we have through this – the opportunity to engage," he said.

Mr Baird said the Ausgrid deal had given the government the ability to bring forward planning for the project, which wasfirst revealed by Fairfax Media in September.

"A metro line in Western Sydney will effectively double rail capacity between Parramatta and the Sydney CBD,transforming the way we get around our city forever," Mr Baird said.

"This is the first step – we've identified the need for this project, we're committing the government to delivering it andtoday we begin the work to bring metro rail to Western Sydney," he said.

Called "Sydney Metro West", much of the new line will run through tunnels. The route follows a similar abandonedscheme promised by the former Morris Iemma Labor government in 2007 and then abandoned.

The first stage of a $20 billion metro line under construction, between Sydney's north-west and Chatswood, is due forcompletion in 2019. The second stage of this line will continue onto the CBD, Sydenham and on the existing BankstownLine and should open in 2023.

Transport Minister Andrew Constance said the new west metro line line would complement the existing Western Line,which was quickly reaching capacity.

"We are already delivering stages one and two of Sydney Metro – 66 kilometres of new metro rail opening from 2019that will change the face of the north west and take pressure off Town Hall and Wynyard in the CBD, with a newcrossing of Sydney Harbour and metro to Bankstown," he said.

More to come

This story was found at: http://www.smh.com.au/nsw/metro-rail-from-cbd-to-parramatta-confirmed--but-its-10b-and-10-years-away-20161114-gsol5l.html

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Carolyn CumminsPublished: March 8, 2016 - 11:15PM

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1 of 2 09-Mar-16 9:57 AM

This story was found at: http://www.brisbanetimes.com.au/business/property/owners-pull-together-to-raise-30m-from-south-sydney-development-20160308-gndjx5.html

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Parramatta Road $31 billion redevelopment plan to transform Sydney

James Robertson, Sean NichollsPublished: November 9, 2016 - 12:15AM

Some 27,000 new homes will be built along a dilapidated 20-kilometre corridor in the state government's $31 billion redevelopment plan for Parramatta Road, to be announcedon Wednesday.

The government's final strategy for the project plans to revitalise the area around Sydney's oldest freeway as it projects 50,000 cars a day are to be diverted from the transportartery with the completion of the WestConnex motorway.

But the 30-year plan for 27,000 new residential dwellings significantly scales down the government's previously published residential development targets in favour ofcommercial development.

A draft plan released last year had a forecast of 40,000 new dwellings, while earlier projections by the state government developer UrbanGrowth had been as high as 50,000.

The housing target has been lowered in response to concerns about the capability of local infrastructure and a Greater Sydney Commission plan for greater commercialdevelopment near the road.

The new plan drops density targets in a number of Sydney suburbs, with 7000 fewer dwellings in Homebush – or 40 per cent – but the number of jobs forecast will more thandouble.

The plan forecasts an additional 50,000 jobs in the area from Homebush to Haberfield.

Councils, whose negotiations with the state government on the project have previously been frayed, will now be directed to comply with the strategy even in the many instancesin which it conflicts with their own development plans.

Responsibility for overseeing the strategy will be assumed by the state government's new super planning body, the Greater Sydney Commission.

A minimum of 5 per cent of new homes will be affordable housing but the document allows for an increase in line with any changes to state government policy.

Based on headline housing targets, this would account for 1350 new homes in the redevelopment, but the document notes that the target could move with the policy of thegovernment of the day.

The strategy promises nearly $200 million in dozens of infrastructure projects to be brought in with partnership with councils, including streetscape upgrades, pedestrianwalkways, urban plazas and cycleways.

"The strategy is a joint vision for revitalising one of our city's most interesting urban corridors, which has been overwhelmed by heavy traffic, excessive noise and decliningcommercial spaces for years," said Planning Minister Rob Stokes.

The strategy also outlines a costed list of infrastructure projects for potential future delivery.

These include plans to support a greening of the corridor and projects such as an additional 66 hectares of open space and recreation areas, 33 kilometres of walking and cyclingconnections and $131 million for a rapid bus route from Burwood to the CBD.

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The strategy divides the corridor into eight precincts with commercial development forecast with a major retail precinct at Auburn and a new research hub in Camperdown.

Work on the amenity in the corridor is forecast to begin from next year. Development assessment and construction is slated to begin in 2018.

A spokesman for UrbanGrowth said that the developer had revised housing targets downward in response to community feedback.

"In places such as North Strathfield, Burwood-Concord and Lewisham we received significant feedback that the previously proposed heights and densities were not supported."

Focus on commerce tempers residential growth

The state government has quietly but dramatically changed the future composition of its Parramatta Road redevelopment, with a major switch in emphasis toward commercialdevelopment and a doubling in jobs growth.

In the space of a year, the government has more than doubled the number of jobs squeezed into the 20-kilometre corridor.

Last year's draft strategy was projecting the addition of 20,000 jobs to the area. That figure is now forecast to reach nearly 50,000.

The new jobs are coming at the expense of dwellings.

More than two years ago, UrbanGrowth NSW was projecting an increase of up to 50,000 dwellings along the precinct.

That target was lowered to 40,000 new dwellings last year but has fallen again in the final strategy to only 27,000 extra homes.

The revision came after consultations with the community and councils found concerns about the level of proposed residential growth and the ability of local infrastructure tocope.

Planning Minister Rob Stokes, and the Greater Sydney Commission, which will have ultimate responsibility for overseeing the strategy, have opted for instead for a focus onemployment growth and commercial development.

Currently only 26,000 jobs are located in the corridor.

The change will greatly change the future composition of many of the eight precincts lining the state government's redevelopment.

In Taverners Hill, the number of new homes forecast to be added to its Parramatta Road precinct has now halved. But projected new jobs are now forecast to quadruple by 2050to reach 4100, in line with a plan to include large retail developments in the area.

The state government will now aim to promote Camperdown as a hub for research, connected to the University of Sydney and Royal Prince Alfred Hospital.

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2 of 3 9/11/2016 9:21 AM

Carolyn CumminsPublished: March 4, 2016 - 10:45PM

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3 of 3 09-Mar-16 10:07 AM

Jacob SaulwickPublished: January 7, 2016 - 12:15AM

Print Article: Residential land values surge across Sydney, especially in t... http://www.smh.com.au/action/printArticle?id=1004432074

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This story was found at: http://www.smh.com.au/nsw/residential-land-values-surge-across-


3 of 4 07-Jan-16 9:49 AM

LGA 2014 2015 % change 2014 to 2015

ASHFIELD $687,000.00 $887,000.00 29.11%

AUBURN $435,000.00 $567,000.00 30.34%

BANKSTOWN $516,000.00 $646,000.00 25.19%

BLACKTOWN $255,000.00 $375,000.00 47.06%

BLUE MOUNTAINS $220,000.00 $231,000.00 5%

BOTANY BAY $736,000.00 $949,500.00 29.01%

BURWOOD $687,000.00 $871,000.00 26.78%

CAMDEN $244,000.00 $298,000.00 22.13%

CAMPBELLTOWN $206,000.00 $248,000.00 20.39%

CANADA BAY $807,000.00 $1,050,000.00 30.11%

CANTERBURY $538,000.00 $657,000.00 22.12%

CITY OF SYDNEY $632,000.00 $782,000.00 23.73%

FAIRFIELD $321,000.00 $430,000.00 33.96%

HAWKESBURY $244,000.00 $286,000.00 17.21%

HOLROYD $342,000.00 $472,000.00 38.01%

HORNSBY $554,000.00 $701,000.00 26.53%

HUNTERS HILL $1,090,000.00 $1,360,000.00 24.77%

HURSTVILLE $597,000.00 $737,000.00 23.45%

KOGARAH $670,000.00 $862,000.00 28.66%

KU-RING-GAI $763,000.00 $969,000.00 27%

LANE COVE $952,000.00 $1,140,000.00 19.75%

LEICHHARDT $703,000.00 $896,000.00 27.45%

LIVERPOOL $273,000.00 $353,000.00 29.3%

MANLY $1,050,000.00 $1,260,000.00 20%

MARRICKVILLE $578,000.00 $738,000.00 27.68%

MOSMAN $1,390,000.00 $1,590,000.00 14.39%

NORTH SYDNEY $970,000.00 $1,110,000.00 14.43%

PARRAMATTA $435,000.00 $591,000.00 35.86%

PENRITH $251,000.00 $283,000.00 12.75%

PITTWATER $691,000.00 $857,000.00 24.02%

RANDWICK $853,000.00 $1,150,000.00 34.82%

ROCKDALE $625,000.00 $791,000.00 26.56%

RYDE $710,000.00 $890,000.00 25.35%

STRATHFIELD $902,500.00 $1,140,000.00 26.32%

SUTHERLAND $661,000.00 $780,000.00 18%

THE HILLS SHIRE $504,000.00 $664,000.00 31.75%

WARRINGAH $699,000.00 $869,000.00 24.32%

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Carolyn CumminsPublished: February 5, 2016 - 11:45PM

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Matt O'SullivanPublished: December 1, 2015 - 2:59PM

The agency building the WestConnex motorway wants to move the key rail line linking Sydney's west to Port Botany under plans to buildseparate motorway connections to Sydney Airport's domestic and international terminals.

The Sydney Motorway Corporation is yet to finalise a plan to link WestConnex to the airport, one of the original justifications forconstructing what has become Australia's largest motorway project.

But under the latest plans for the "Sydney gateway", a motorway of two lanes each way would split much closer to St Peters in Sydney'sinner west than had been previously envisaged. One arm of the new roadway would connect to the international terminal and the other tothe domestic terminals known as T2 and T3.

The tentative plans would require moving a rail freight line near the northern boundary of the airport about 500 metres north. The singlerail line connects Port Botany to Sydney's west.

Sydney Motorway Corporation chief executive Dennis Cliche said possible corridors for the roadway from St Peters to the airport wouldinvolve navigating around a significant number of properties.

The new motorway connection could result in significant changes to Qantas Drive, which is at the northern edge of Sydney Airport andconnects to Airport Drive and Joyce Drive.

Shifting the rail link would also require commercial negotiations with organisations such as Sydney Airport, transport companiesAsciano and Qube, and NSW Ports.

"The rail link is right in the middle of this zone," he said of the plans to build the motorway links to the airport terminals from theinterchange at St Peters. "By moving the rail, we have got more opportunity.

"It is part of the airport's future plans as well. We have done the concept and taken it to the point of costing. There is still a large amount ofwork to go."

The latest designs highlight the way in which the WestConnex project continues to expand. The motorway has morphed from a $10 billionroadway in 2010 into a near $16.8 billion project.

But that cost does not include some major future elements envisaged for the project. These include another road crossing of SydneyHarbour and a motorway to the Sutherland Shire.

Around Botany, the state government has said it wants a duplicated rail freight line from the port to Sydney's west where major logisticsterminals are to be built.

Mr Cliche said the cost of the "Sydney gateway" had risen because of the plan to split the roadway closer to St Peters, and provideroadways to both terminals.

Infrastructure NSW is working on the details of the "enhanced version" of the Sydney gateway.

A spokeswoman declined to provide details but said it was working to ensure there was an "appropriate connection" from WestConnex tothe airport and port.

Under the plans for WestConnex, the major interchange at St Peters will link the Sydney gateway to the new M5 East, and tunnelsconnecting the M4 to the M5 motorways.

The original design for stage three of WestConnex, including a motorway link to the airport and Port Botany, was done before thegovernment's plans to sell state electricity assets, Mr Cliche said.

While officially part of stage two, the Sydney gateway is not expected to be opened to traffic until 2023 – the same timeframe for stagethree.

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The state government also plans to upgrade roads around Sydney Airport to ease congestion, including General Holmes Drive and BotanyRoad.

Mr Cliche described as a "vote of confidence" in WestConnex the raising of $1.5 billion of private sector debt late last month fromCommonwealth Bank, Westpac, National Australia Bank and a French bank.

"That was an acid test for our project. If we couldn't convert that high-level interest into hard loans we would have been in trouble. But wedid and that is why it is quite significant," he said.

"We have the ability to raise debt, sell equity or hold [in the longer term]. There are many options."

This story was found at: http://www.smh.com.au/nsw/sydney-gateway-rail-line-to-be-moved-properties-affected-under-plan-to-link-westconnex-to-airport-20151201-glcekd.html

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Melanie KembreyPublished: May 2, 2016 - 12:24PM

Australia's largest wholesale fruit, vegetable and flower markets is considering its future at its long-standing home in western Sydney.

Sydney Markets, which includes the produce, flowers and growers outlets, is canvassing the possibility of relocating from its home in Flemington.

Chief Executive Bradley Latham stressed that no firm decision had been made, but a study would be commissioned to evaluate the future of the business.

"We're undertaking a study in regards to the future of the market. What we first need to understand is how long we will be at our current site for, which could be 5,10,15 or 20 plus years,"Mr Latham said.

"It is trading really well at the moment but there will come a time when we will have to relocate. Having said that, I think it's prudent to earmark a future location because if we don't, themarkets will end up too far away."

While specific locations had not been scouted, Mr Latham said, the growth area around the proposed airport at Badgerys Creek could suit the needs of the markets.

"We're not considering anywhere at the moment until the experts tell us. I think conceptually if you look at Badgerys it's going to have really good infrastructure there, good roadwaysand railway lines. It just makes sense, but there could be other areas just as good," he said.

Sydney Markets, an unlisted public company, has been located at Flemington since 1975 with its history dating back to 1806 when the fledging colony's first markets were held at TheRocks.

Nearly 5000 people work at the markets, with about 850 wholesalers, growers and supporting businesses located at the Flemington site.

Mr Latham said the central location was ideal, but the markets would eventually need more space.

"We're on 43 hectares here but with the increase in population and the requirements of our traders there will come a time when were will have to move," he said.

Sydney Markets consideration of its future comes as a lobby group pushes the state government to overhaul its preferred route for a western Sydney light rail so it instead passes throughFlemington.

The line, construction of which is due to start in 2018, will run from Westmead through Parramatta and Sydney Olympic Park to Strathfield.

In an industry briefing paper released in March, the government signalled that its preferred route for the track was through Sydney Olympic Park, Homebush and North Strathfield beforecrossing Parramatta Road to Strathfield station.

But the WestLine Partnership, which has major developers including Billbergia, Goodman, GPT group, Payce, Sekisui House as members, wants the tram tracks to run from SydneyOlympic Park to Lidcombe and then along Parramatta Road to Strathfield.

Spokesman Christopher Brown said this route would provide public transport to a residential redevelopment planned in Lidcombe, and also open up more land for new property

Print Article: Sydney Markets considers future in Flemington http://www.smh.com.au/action/printArticle?id=1008572930

1 of 2 03-May-16 12:03 PM

development, particularly if the Sydney Markets site was to be sold.

The government expects a significant contribution from the private sector via so-called "value capture" to fund the line, and will place a levy on new residential developments along thecorridor.

"We can't have it both ways, we either want developers to help pay for our infrastructure or we don't," Mr Brown said. "We've crossed that river and the new game is developer pays.Therefore we are now putting up options of ways that government can get more money to help reduce the call on taxpayers for this light rail."

The WestLine Partnership, which includes Strathfield Council, ANZ Stadium and the Australian Turf Club, was also the group that rallied the government to build the tram through thearea over other routes.

A Transport for NSW spokesperson said the department had met with dozens of stakeholder groups and would release a draft route for community consultation later this year,

"Transport for NSW will consider all reasonable options that meet Parramatta light rail and broader NSW Government objectives," the spokeswoman said.

This story was found at: http://www.smh.com.au/nsw/sydney-markets-considers-future-in-flemington-20160502-goh7uq.html

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2 of 2 03-May-16 12:03 PM

Jacob SaulwickPublished: March 3, 2016 - 5:15AM

Print Article: WestConnex anger to spread to Rozelle and Camperdown http://www.smh.com.au/action/printArticle?id=1006493398

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