The future is writ large in the following article from The Leader! Not that we object to residents using their noggins and making a profit. What we most strongly object to is the failure of this administration and its councillors to do the necessary homework in order to ensure that residential streets are given the maximum protection possible. Unlike other councils’ approach to the introduction of the ‘reformed’ residential zones, we remind readers that our glorious council introduced the zones in total secrecy, with zero consultation, and with such indecent haste that there are countless stuff ups that will now take years to remedy. For example:

  • No minimum size lot for subdivision – meaning that developers can subdivide and then subdivide again
  • No dwellings cap on any lot of above average size
  • No attempt to equal permeability requirements that other councils stipulate – ie. 25% compared to up to 40% by others
  • No ‘buffer zones’
  • Dividing streets and neighbours for no logical and accountable reason. For example Mavho St. (pictured below) where there is now a new application in for a 3 storey, 27 unit development and a reduction in visitor car parking. If this property was on the other side of the street and 8 or so houses down from Centre Road, it would be counted as ‘minimal change’. Why the eighth house is designated as minimal change and the 9th house as ‘housing diversity’ boggles the mind. But that’s the planning in Glen Eira!

 

Melbourne homeowners team up to take advantage of law changes and net $5.76m windfall

THREE savvy homeowners joined forces to sell their properties collectively, making upwards of $1 million profit.

They took advantage of recently changed zoning laws and the growing Asian investor interest in Melbourne.

The Bentleigh trio sold their houses in an off-market deal through Savills Australia.

Neighbours at 14, 16, and 18 Bent St sold their adjoining homes to a Chinese developer for $5.76 million, up to $1.8 million more than could have been expected from separate individual sales.

The undisclosed purchaser intends to apply for permission to develop a multi-level apartment building on the combined 1985sq m site.

Savills Australia’s Julian Heatherich, who negotiated the sale, said the neighbours could reasonably have expected to fetch $1.3-$1.5 million in separate sales, but the combined property provided a much more valuable development opportunity.

“This was an exceptional result where three astute neighbours realised the opportunity they could create by combining their properties to form an attractive development opportunity and it could not have been a better result,” Mr Heatherich said.

“As far as we know this is the first sale of this type based on an opportunity created by recent residential zoning changes and the current Asian penchant for Australian and particularly Melbourne property.”

Recent zone changes allow for multi-unit development within activity centres.

City of Glen Eira implemented the changes in August with the new ‘Urban Village Policy’ allowing for multi-storey development of up to four levels.

“Glen Eira was the first municipality to implement the zoning changes and with Bentleigh one of the main high density areas in Glen Eira, it was subsequently reclassified as Bentleigh Urban Village,” Mr Heatherich said.

Bent St runs off the busy Centre Rd shopping strip and is near the train station.

PS: here’s the link for the Channel 7 News of today. Please note the mockup of what a four storey building, containing  60 units might look like next to a single storey dwelling – https://au.news.yahoo.com/vic/video/watch/24268737/teamwork-pays-in-savvy-land-sale/

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And here’s the view of countless local streets carved up by whim or officers sitting at a computer and drawing lines on a map.

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