1 kids in parents’ pockets eroding retirement savings
TRANSCRIPT
2
• Kids
• In
• Parents’
• Pockets
• Eroding
• Retirement
• Savings
3
• Build
• Absolutely
• Nothing
• Anywhere
• Near
• Anything
Introduction
4
• BANANA republic?
• NSW – yes
• Victoria – not really, but let’s keep it that way
• Remember airport land?
• The sky didn’t fall in and it won’t again
Productivity Commission
5
• Performance Benchmarking of Australian Business Regulation: Planning, Zoning & Development Assessments (16 May 2011)
• “Competition restrictions in retail markets are evident in all states and territories. They arise:– From excessive and complex zoning;– Through taking inappropriate account of impacts on established
businesses when considering new competitor proposals; and – By enabling incumbent objectors to delay the operations of new
developments.”• “Leading practices to improve planning, zoning and assessment
include … broad and simple land use controls to: reduce red tape, enhance competition, help free up urban land for a range of uses and give a greater role to the market in determining what these uses should be [my emphasis added]
The key retail changes
6• Not an exhaustive list
Current Proposed
Zone Smkt Restricted retail
Shop (excl prev)
Zone Smkt Restricted retail
Shop (excl prev)
B1 Capped Capped Capped
C1 UncappedNo permit
UncappedNo permit
UncappedNo permit
B2 CappedPermit
CappedPermit
CappedPermit
B5 Prohibited Prohibited Only conv shop (permit)
B3 Prohibited Permit Only conv shop (permit)
C2
<=2,000 sqm no permit
>2,000 sqm permit
No permit
<=500 sqm no permit on same land or adjoining smkt
Otherwise permit
B4 Prohibited Permit Only conv shop (permit)
IN3 Prohibited Permit Only conv shop (permit) IN3 <=2,000 sqm
no permitNo permit <=500 sqm no
permit on same land or adjoining smkt
Other changes
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• Shop floorspace uncapped in MUZ, with permit only required >150 sqm
• Office floorspace unrestricted in C1Z and C2Z and can be capped rather than <500 sqm in all INZ
• Remove permit requirement for accommodation in C1Z and allow a permit to be sought in C2Z (except for dwelling)
• Remove permit requirements in C2Z for:– Cinema and cinema-based entertainment facility
– Food & drink
– Trade supplies
What could happen?
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• Increased density and better mix in C1Z
• More diversity in C2Z – currently often one-dimensional
• Better amenity in IN3Z
• Facilitate rollout of new retail formats
• Allow for introduction of supermarkets and other retail facilities into poorly serviced areas
• Promote competition
• Two words – MARKET FLEXIBILITY
Example 1
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• 1,900 sqm former Retravision with 40 car spaces in B2Z with zero shop floorspace limit – restricted retail only option
• Shop will now be allowed – flexibility in the heart of a CAD
B2Z
B2ZB1Z
B1Z
79-83 Maroondah Highway
Example 2
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• Some parts of Melbourne are poorly provided with Coles floorspace
• B2 zones may provide opportunities for new stores
• Site depth and parking will be issues
Accessibility to Coles supermarket floorspaceLighter areas = poor accessibilityBlack = B2 zones
Moorabbin
Gardenvale
HartwellBurwood
Surrey Hills
BalwynKew
