http://www.realcommercial.com.au/proper ... de-5795391
Taking a cynical viewpoint, let me surmise the development strategy here for just a moment:
1. Obtain approval to build an office block with associated car parking, with the latter flagged as ‘Stage 1’ of the project
2. Construct car park only
3. Submit a DA for an ‘upgraded office facility’ in an effort to amend the ‘Stage 2’ office component into a ‘temporary car park’ – which if accepted will increase the land value based on annual returns from the car park
4. Irrespective of approval or rejection, sell the site to lock in profits associated with car park construction
5. ‘Stage 2’ remains dormant for years as it is uneconomic to develop such a small site into an office block or anything else which council will readily accept.
I’m not completely in my sphere of understanding here – perhaps I’m being a tad too cynical?
![Confused :?](./images/smilies/icon_confused.gif)