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CROWN VALUATION SERVICES

FINAL REPORT

BASE DATE 1st July 2017

DISTRICT OF AUBURN (135) CUMBERLAND COUNCIL PARRAMATTA CONTRACT AREA

14th November 2017

CROWN VALUATION SERVICE

FORMER AUBURN LOCAL GOVERNMENT AREA FINAL REPORT

2017

Executive Summary The following information refers to the Contract Area of the former Auburn Local Government Area and not to the more recently proclaimed Cumberland Council. Due to the amalgamation of the district, certain information incorporates the broader Cumberland Council and not specifically the former Auburn Local Government Area.

General Overview There was a strong increase in land values in the Auburn local government area between 2016 and 2017.

Many properties in Auburn have benefited from proposed improvements to infrastructure in the region

and the continuing development of the Parramatta CBD.

The increase in residential land values has been largely driven by continued demand for well-located

residential properties across all types of residential property including units, attached housing and free

standing residential properties.

There were strong increases to commercial and industrial land values in the district. Greater increases

in commercial land values occurred for the Mixed Use and certain Local Centre properties which

remained in high demand due to potential for the development of residential units.

Residential Overview The single dwelling and density residential markets have seen strong increases since the prior Base Date,

with sale prices appearing to meet vendor expectations. The strong increases in residential land values

has been largely driven by continued demand for well-located residential properties with good access

to infrastructure and the proximity to the Parramatta CBD. Sites with additional development potential

continue to be sought for redevelopment into dual occupancy or higher density uses.

Commercial Overview There have been strong increases in commercial land values in the district from 2016 to 2017. Very

strong increases in land values were particularly evident in Mixed Use zones in Auburn and Lidcombe

town centres, given their proximity to transport hubs as well as the small Newington Local Centre

precinct which includes the Carter Street/Uhrig Road precinct.

Other commercial areas including Neighbourhood Centre, Local Centre and Enterprise Corridor

precincts have demonstrated strong increases, with specific sites and precincts showing stronger

increases as supported by sales evidence. The number of transactions has reduced significantly when

compared to the preceding 12 months.

Industrial Overview The industrial zoned properties in the district showed strong increases from 2016 to 2017. The number

of transactions has remained fairly steady when compared to the preceding 12 months. Demand for

General Industrial and Light Industrial in the District appears to be driven by the fundamental location

and access to existing road and railway infrastructure with further improvements expected once the

Westconnex motorway network is completed in the next few years.

NOTE: This Executive Summary must be read in conjunction with the attached report and the details

contained therein.



2017

Table of Contents Executive Summary Page 2 Disclaimer - Purpose of this Report Page 3 District Overview Page 4 State and Local Government Legislation for LGA Page 7 Market Overview and Sales of Particular Interest Page 9 Significant Issues and Developments Page 13 Significant Value Changes Page 15 Overview of the Quality Assurance Process Page 16 Author Page 16

Disclaimer: Purpose Of This Report The purpose of this report is to describe the process and considerations for the 1 July 2017 Valuation of

the former Auburn LGA. 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 have been determined using a methodology prescribed by the Rating and Taxing

Valuation Procedures Manual. The manual allows mass valuation methodologies that involve assessing

large numbers of properties as a group to be utilised where appropriate. Mass valuation methodologies

are by their nature likely to be less accurate than individually assessed valuations, however are utilised

worldwide for rating and taxing purposes to deliver valuations within an acceptable market range.

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 Property NSW website at

www.PNSW.nsw.gov.au/valuation

http://www.pnsw.nsw.gov.au/valuation



2017

District Overview Location The Auburn Local Government Area covers an area of approximately 3,251 hectares and is situated

some 17 kilometres west of Sydney’s Central Business District. The municipality is bounded by the

Parramatta River to the north, Duck River in the west, part Centenary Drive Homebush Bay through to

and including Rookwood Cemetery in the east and the Sydney water pipeline in the south.

Map of the City of Auburn LGA. (Source: Auburn Council)

The main centres provide a large percentage of employment with businesses working from retail and

commercial premises as well as significant employment generated from the Sydney Olympic Park

precinct, industrial lands in Regents Park and Auburn as well as the Silverwater industrial precinct to the

north.

According to Profile.id the Cumberland Council LGA (which includes the former Auburn Council, Holroyd

Council and southern City of Parramatta wards) approximately 53% of households were purchasing or

fully owned their home, 30.9% were renting privately, and 7.1% were in social housing in 2016.



2017

Principal Towns and Suburbs The Auburn LGA includes the suburbs of Auburn, Berala, Homebush Bay, Lidcombe, Newington, Regents Park, Rookwood, Silverwater and Sydney Olympic Park. Newington is one of Auburns newer suburbs and is built on 87.2 hectares of the former Newington Armament Depot and is in part the legacy of the Sydney 2000 Olympics. Newington is located to the west of Stadium Australia and Olympic Park Railway Station, east of the Silverwater industrial area and lies between the M4 motorway and the Parramatta River comprises residential precincts of over 2,070 dwellings, an industrial estate, the Newington Business Park, and Newington Village - a neighbourhood retail and community area.

The main commercial centres of the Auburn LGA are Lidcombe and Auburn which is serviced by the

Auburn Central Retail precinct, Auburn Hospital, the former Auburn Council chambers, emergency

services and Railway station.

Main Industry Traditionally the main employer industry in the Auburn Local Government Area has been manufacturing

located in the Silverwater industrial area with the next group being employed in the retail industry. Over

the last 20 years business parks have been developed in the Silverwater, Newington and Regent’s Park

industrial areas. More recently bulky goods and direct factory outlets located on Parramatta Road have

been developed. The industries employing the highest number of people are:

▪ Manufacturing ▪ Retail and Wholesale Trade ▪ Transport, Postal and Warehousing ▪ Construction

According to Economiy.id Cumberland Council’s Gross Regional Product (of which Auburn forms a part)

was estimated at $11.69 billion as of the 30th June 2016, which represents 2.22% of the state's GSP

(Gross State Product) with the largest industry being manufacturing.

Significant retail centres Auburn shopping centre including “Auburn Central” is the most significant retail centre. Other shopping

centres are located at Lidcombe, Berala, Regents Park and Newington. As well, Parramatta Road has

many large bulky goods complex’s and direct factory outlets.

Type of Residential Development Residential development in the former Auburn LGA is an older established area with a mix of housing

types including single dwelling homes, semi’s and terraces. The district is made up of varied types of

residential development. Several precincts also comprise of medium and higher density residential

development with accommodation ranging from 1960’s style low rise walk-up residential units to more

modern and contemporary development built to a higher specification. Medium and higher density

development is predominantly found around major centres throughout the LGA along railway corridors.

The redevelopment of the waterside precinct at Wentworth Point is an exception with access to railway

stations in neighbouring areas such as Rhodes, Sydney Olympic Park or Lidcombe.

Free standing dwellings range in age and construction from small older style cottages to large modern

homes built to a high specification. An increasing occurrence of redevelopment for modern single

dwellings, duplexes or townhouses has occurred. These again range in quality from more typical lower

cost structures and project homes to a number of elaborate large houses of a high standard.



2017

Auburn includes the largest number of dwellings. The area includes predominantly freestanding single

residential dwellings on typical sized residential lots. The replacement of single dwellings with duplexes

continues to occur throughout the LGA. Townhouse sites are also spread throughout the LGA but are

more common in areas that have large existing lots and good access to transport links. Existing medium

density sites are located generally around the LGA’s major centres. These areas tend to be well serviced,

close to commercial precincts and railway stations.

Analysis of the types of dwellings within Cumberland Council (of which Auburn now forms a part) from

the Australian Bureau of Statistics data from the 2016 census shows there to have been 39,937 separate

houses in the district with 17,811 medium density dwellings and 13,461 high density dwellings.

Properties Valued and Total Land Value The former Auburn Local Government Area (Now within Cumberland LGA) comprises residential,

commercial, industrial, special uses, recreation zones, environmental and natural waterways zones.

Valuation changes in the local government area and percentage changes between the council valuation

year of 1 July 2017 and previous land tax and council valuation year 1 July 2016 are as follows:

ZONE ZONE CODE ENTRIES 2017 TOTAL LV

PRIOR LGA & ANNUAL

VALUATION (2016)

% CHANGE

RESIDENTIAL (A, R2, R3,

R4) 13,770 $13,508,708,925 $11,629,823,682 16.16

COMMERCIAL (B1, B2,

B4, B6, B7) 1,075 $3,208,213,990 $2,722,403,151 17.84

INDUSTRIAL (IN1, IN2) 752 $1,593,852,680 $1,447,519,550 10.11

INFRASTRUCTURE (SP1, SP2) 59 $163,085,950 $149,555,240 9.05

ENVIRONMENTAL (E1, E2, E3) 23 $182,886,990 $161,234,190 13.43

RECREATION (RE1, RE2,

W1) 220 $152,048,170 $132,204,340 15.01

TOTAL 15,899 $18,808,796,705 $16,242,740,153 15.80



2017

State and Local Government Legislation Following Council amalgamations, Cumberland Council continues to implement the Auburn Local

Environmental Plan 2010 and Auburn Development Control Plan 2010 (DCP) that applies to all land

within the former local government area excluding:

▪ land in Sydney Olympic Park. Sydney Olympic Park is covered by State Environmental Planning Policy (Major Development) 2005; and

▪ land at Wentworth Point, which is covered by the Sydney Regional Environmental Plan No. 24 - Homebush Bay Area.

The LEP sets out relevant guidelines such as zoning, minimum lot size and maximum permissible building

heights in maps that cover the whole district. All development is assessed and must comply with this

planning legislation. There is no broad summary for these documents and maps with details, including

relevant amendments are available at the New South Wales Government’s NSW legislation website

www.legislation.nsw.gov.au.

The Greater Sydney Commission Act 2015 commenced on 27 January 2016. The GSC Act enables the

Minister for Planning to create Sydney Planning Panels. A Sydney Planning Panel is taken to be a Joint

Regional Planning Panel (JRPP) under the Environmental Planning and Assessment Act, 1979. The

Sydney Planning Panels will “determine regionally significant development applications (generally

development with a capital investment value of more than $20M) within the Greater Sydney Region (as

defined in the GSC Act) and consider pre-Gateway (rezoning) reviews.” It is noted that these are the

same functions as the current Joint Regional Planning Panels.

Auburn Local Environmental Plan 2010 Auburn LEP 2010 is the principal legal document for controlling development and guiding planning

decisions made by Council to facilitate new development that is compatible and appropriate with the

preferred role and character of an area. The LEP has been created to comply with the State

Government’s Standard Instrument (Local Environmental Plans) Order 2006, which requires local

councils to implement a ‘Standard Instrument’ LEP. The State Government created the Standard

Instrument LEP to streamline the NSW Planning system. Auburn LEP 2013 was applied on the 29th

October 2010. Minimum lot sizes vary depending on the zoning and type of development. The minimum

lot size categories include:

Minimum Lot Size

450 m2

1,500 m2

2,000 m2

7,000 m2

Maps are available via NSW Legislation and Cumberland Council website for relevant precincts to which

the above minimum lot sizes apply.

Auburn Development Control Plan 2010 Auburn DCP 2010 supports the implementation of the provisions to Auburn Local Environmental Plan

2010. It contains detailed provisions on all aspects of development not covered under the LEP which are

used in the assessment of all development applications.

http://www.legislation.nsw.gov.au/



2017

Town Planning Amendments There have been numerous amendments since the application of the existing Auburn LEP and DCP.

These have been considered in determining land values in the district. The most recent amendments

that have occurred since prior general valuation in 2016 are listed below.

Auburn Local Environmental Plan 2010 (Amendment No 11) - This Plan applies to Lots 1 and 2, DP 1160950, 1A and 1B Queen Street, Auburn. Published 4th August 2017 and commences 2 months after it is published on the NSW legislation website, sites were rezoned from IN2 Light Industrial to R4 High Density Residential. Further information is available on the NSW legislation website.

Auburn Local Environmental Plan 2010 (Amendment No 20) - This Plan applies to certain land bounded by Simpson Street, Macquarie Road (including land comprising part of Macquarie Road), residential land south of Parramatta Road and St Hilliers Road, Auburn. Published 22nd September 2017 and commences on 6th October 2017, sites were rezoned from R3 Medium Density Residential to R4 High Density Residential. Further information is available on the NSW legislation website.

Auburn Local Environmental Plan 2010 (Amendment No 23) - This Plan applies to Lots 32–38, DP 225351, Lot 1, DP 747776, Lot 1, DP 802749, Lot 3, DP 589764, Lots 50–68, DP 1201206, Lot 1, DP 234801, Lots 16–19, 23, 24 and 26–28, DP 225350, Lot 301, DP 541070, Lot 522, DP 732027, Lot 3, DP 231358, Lot 11, DP 1119080, Lots 1 and 2, DP 1121474, Lot 1, DP 632266, Lot 200, DP 1160458, Lots 1–5, DP 1081374 and Lots 11–13, DP 1217641. Published 28th October 2016, the lot size maps adopted by Auburn Local Environmental Plan 2010 are amended or replaced, as the case requires, by the maps approved by the Greater Sydney Commission on the making of this Plan. Further information is available on the NSW legislation website.



2017

Market Overview and Sales of Particular Interest

Residential Residential zoned land comprises approximately 87% of the entries in the LGA. The Total Residential

Land Value increased 16.16% from $11,629,823,682 (prior General Valuation) in 2016 to

$13,508,708,925 in 2017. The overall increase in the total value of residential land is in line with the

increase in residential value levels based on 2017 sales evidence.

To date 196 residential sales have been analysed to determine and provide verification of land values.

These sales are analysed to provide an analysed land value adjusted to 1st July 2017. The added value

of improvements are also analysed to enable the accurate determination of land values - the paired

sales and the replacement cost approach being the preferred methodology. Sales in close proximity to

the relevant base dates have been preferred. Analysed sales are also used to support the grading across

components. A broad range of sales evidence is analysed. Analysed sales reports are provided to

Property NSW on a consistent basis throughout the year.

Auburn LGA is located adjacent to the City of Parramatta with good access to services. Major features

of the area include Sydney Olympic Park, State Sports Centre, ANZ Stadium, Acer Arena, Sydney Aquatic

Centre, TAFE NSW South Western Sydney Institute (Lidcombe College), The University of Sydney

(Cumberland Campus), Rookwood Necropolis (Cemetery), Silverwater & Mulawa Correctional Centre,

Auburn Hospital, Auburn Botanic Gardens and Bicentennial Park. Community facilities in the District

include parks and reserves for active and passive recreational activities, various schools (both primary

and high school), golf course and denominational churches and religious facilities.

Throughout the District, market evidence has continued to demonstrate strong increases for the 2017

Base Date. There have been few vacant land sales that have occurred throughout the district. There is

very little undeveloped land remaining across the district. Therefore it is in–fill developments and

demolitions that provide most of the supply of residential land for new development. The analysis of

these sales where existing improvements are demolished is important and provides good evidence for

land values. Sales volumes of single residential dwellings have increased slightly over the last twelve

months in comparison to the preceding 12 months with results that appear to be meeting vendor

expectations. At the component level for the 2017 Base Date the Low Density Residential North West

Auburn and High Density Residential components have shown the highest increases.

In 2017 purchasers are continuing to value properties that are well located with good access to

transport, shops and amenities. Sites with additional development potential continue to be sought for

redevelopment into dual occupancy.

Medium and higher density residential sites in the Auburn LGA have shown continued growth. The

market across the board has shown rises relative to potential. There appears to be a reduction in

transactions for development sites over the 2017 valuing year when compared to the preceding 12

months. Construction activity appears to be continuing throughout the district. The redevelopment of

these sites increases the amount of medium and higher density residential accommodation which

assists in housing occupants with a range of differing requirements.



2017

Areas where residential unit development remains particularly evident include the Wentworth Point

and Uhrig Road/Carter Street precinct where high density residential apartment and mixed use

development continues to be constructed.

It is noted that the initial sales of properties for site amalgamation, when compared to the resale of an

amalgamated site with approval within an area where a saturation point hasn't been reached, can show

a large increase. This increase captures the added value of profit & risk, professional fees, legal fees,

government fees & charges and the cost of finance. Further, site sales for amalgamated density

developments are not applicable to single holdings of residential land as the surrounding properties may

not meet all the criteria required for there to be a higher development potential.

As at the 2016 Census, the Cumberland LGA (of which Auburn forms a part) comprises of 39,937

separate dwellings (55.4%), 17,811 medium density dwellings (24.7%), 13,461 high density dwellings

(18.7%) and 420 other dwellings (0.6%). When compared to the 2006 Census it can be seen that the

number of dwellings across the three dwelling types has increased. According to the 2016 Census, 53%

of households were purchasing or fully owned their home, 30.9% were renting privately, and 7.1% were

in social housing in 2016.

Examples of Residential Sales

2 Belgium Street Auburn sold in November 2016 for $1,071,000. Site sale zoned Low Density Residential. Site area: 764.9m2. Sold with approval for demolition and construction of a dual occupancy.

18 Dunbar Avenue Regents Park sold in September 2016 for $740,000. Site sale zoned Low Density Residential. Site area: 696.77m2. Approval subsequent to sale for demolition and construction of a dual occupancy.

5 Uhrig Road Lidcombe sold in December 2016 for $197,167,080. Site sale zoned High Density Residential. Site area: 3.831 Hectares. Development application lodged on the date of sale for demolition of existing structures, construction of four residential flat buildings (3 x 16 storey and 1 x 12 storey) on the northern part of the site containing 561 residential apartments above 3 levels of common basement, associated site works, engineering works, landscaping including a new pocket park and new roads within the northern half of the site, and subdivision of the site into two development parcels with the associated dedication of the public roads. The DA also seeks approval for construction of a two-way internal road and a one-way share way on the eastern boundary, along with construction of a north-west road and east-west road (which are identified in the Carter Street Precinct DCP).



2017

Commercial/Mixed Use Commercial zoned land comprises approximately 6.8% of the entries in the LGA. The Total Commercial

Land Value increased 17.84% from $2,722,403,151 (prior General Valuation) in 2016 to $3,208,213,990

in 2017. The overall increase in the total value of commercial land is in line with the increase in

commercial value levels based on 2017 sales evidence.

With the Parramatta CBD adjacent to the Auburn LGA, the demand for commercial space in the

traditional areas within the LGA is mainly generated from locally based operators servicing the LGA’s

community.

The commercial/mixed use market in the District are categorised by the majority of activity channelled

towards the mixed use development sector of the market. Through continuing changes to planning the

volume of land that allows higher density and mixed use redevelopment has increased in recent years.

This can be seen in locations such as Wentworth Point and the Sydney Olympic precincts where

redevelopment of mixed use sites continues.

Commercial property values have shown strong increases. The main commercial centres are generally

located around the railway stations and transport hubs which benefit from the passing trade of the local

residents. Market evidence has shown that demand remains strong for well-located commercial and

retail premises. Where mixed use potential exists due to sufficient size, there still appears to be demand

from purchasers seeking redevelopment sites. In these instances the value is attributed mainly to the

residential unit component. The highest increases in the district for commercial land included the Mixed

Use zones in Auburn and Lidcombe town centres, given their proximity to transport hubs as well as the

small Newington Local Centre component which includes the Carter Street/Uhrig Road precinct.

Other components including Neighbourhood Centre, Local Centre and Enterprise Corridor precincts

have demonstrated strong increases, with specific sites and precincts showing stronger increases as

supported by sales evidence. The number of transactions has reduced significantly when compared to

the preceding 12 months.

Examples of Commercial/Mixed Use Sales

14 Civic Road Auburn sold in June 2017 for $860,000. Improved sale zoned Mixed Use with site area of 89m2.

10 John Street Lidcombe sold in April 2017 for $2,520,000. Improved sale zoned Mixed Use with site area of 202.75m2.

24 Amy Street Regents Park sold in October 2016 for $1,160,000. Improved sale zoned Local Centre with site area of 229m2.

1-7 Carter Street and 23 Uhrig Road sold in December 2016 for $104,668,032. Site sale zoned Local Centre and High Density Residential with site area of 2.069 Hectares. Development application lodged prior to sale for construction of two residential flat building towers comprising of 385 units.



2017

Industrial Industrial zoned land comprises approximately 4.7% of the entries in the LGA. The Total Industrial Land

Value increased 10.11% from $1,447,519,550 (prior General Valuation) in 2016 to $1,593,852,680 in

2017. The overall increase in the total value of industrial land is in line with the increase in industrial

value levels based on 2017 sales evidence.

The main industrial areas of the LGA are situated at Silverwater, Lidcombe, Auburn and Regents Park

which are located close to the demographic centre of Sydney. Continued development of Sydney’s

Motorway infrastructure is further supporting industrial values in the district as land in traditional inner

Sydney areas continues to be rezoned to residential and mixed use development. Industrial areas well

serviced by road and rail access are benefitting from relocations of businesses to the central western

Sydney employment land areas. The development of the Westconnex project currently well underway

will further improve accessibility for commuters and heavy vehicle traffic.

Demand for well-located industrial space has been constant and is expected to increase particularly as

existing industrial areas close to rail and other infrastructure are rezoned to allow high density

residential development as happened last year around Lidcombe railway station. Where there is market

expectation of a rezoning of land, sales appear to have shown higher increases when compared to the

broader industrial market. This is particularly evident in the Light Industrial precincts where they are

close to town centres and transport hubs.

Industrial land values have shown strong increases, overall since the 2016 Base Date. The market has

seen vacancy rates trending lower over the 2017 valuing year with good demand for industrial space.

Rents in the Auburn LGA industrial market appear to have remained fairly stable commensurate with

the age, utility and quality of the space available. There have been a reasonably limited number of

industrial sales that have occurred during the 2017 valuing year in the district. Sales volumes of industrial

property have remained fairly steady over the last twelve months in comparison to the preceding 12

months with results that appear to be meeting vendor expectations.

Examples of Industrial Sales

19-21 East Street Lidcombe sold in February 2017 for $2,080,000. Improved sale zoned Light Industrial with site area of 787m2.

349 Chisholm Road Auburn sold in March 2017 for $1,804,000. Improved sale zoned General Industrial with site area of 602m2.

20 Edgerton Street Silverwater sold in May 2017 for $2,800,000. Improved sale zoned General Industrial with site area of 911m2.

36-38 Boorea Street Lidcombe sold in October 2016 for $6,985,000. Improved sale zoned General Industrial with site area of 4,219m2.



2017

Significant Issues and Developments: Some Examples of Major Development sites within the LGA 1A & 1B Queen Street Auburn: Development Application for the demolition of structures and construction of 12 residential apartment buildings, being part 3, part 6 and part 8 storey buildings containing 595 residential apartments including basement parking, landscaping, stormwater, public domain works and subdivision - Integrated Development (Water Management Act 2000). 4-14 Mark Street, Lidcombe: Development Application for the demolition of existing dwellings & associated structures and construction of a ten storey mixed-use development consisting of 3 commercial tenancies and 180 residential units over four level basement parking

41 Auburn Road, Auburn: Development Application for the demolition of existing structures and construction of a mixed-use development comprising 2 residential towers, 3 levels of retail/commercial uses, 3 levels of basement parking including alterations and additions to the existing hotel on the corner of Queen Street and Harrow Road and associated stormwater and landscape works.

9-15 Raphael Street, Lidcombe: Development Application for the demolition of all existing structures and construction of 10 storey residential flat building consisting of 117 units with 4 levels of basement parking 18-22 Mary Street, Auburn: Development Application for the demolition of existing structures and the construction of a 12 storey mixed use apartment building containing a three storey basement car park, a ground floor comprising three commercial / retail tenancies.

13-19 Mary Street, Auburn: Development Application for the demolition of existing dwelling houses and construction of 12 storey mixed use development comprising 99 residential units, 5 commercial tenancies over 4 levels of basement parking. 18-24 Railway Street, Lidcombe: Demolition of existing structures, construction of an eleven storey mixed use development with 139 apartments and 3 levels basement car parking including a Voluntary Planning Agreement for the dedication of land to Council to widen an adjoining laneway. 116-132 Amy Street, 2-4 Smith Street and 1,3,5,7,7A and 9 Maunder Street, Regents Park: To amend the Auburn LEP 2010 to rezone land at Amy, Smith and Maunder Streets, Regents Park. Status- Panel Consideration. Lot 8 Main Avenue, Lidcombe: Adaptive re-use of the former Nurses Quarters into 8 dwellings, including refurbishment and demolition of various minor works, construction of 2 x 3 storey residential flat buildings containing a total of 24 dwellings, basement & at-grade car parking, strata subdivision, site reshaping & benching, tree removal and associated landscaping, civil works and provision of site services - Integrated Development (Heritage Act, 1977). Status- Decision Deferred 13 - 21 John Street, Lidcombe: Demolition of existing structures and construction of 9 storey mixed use development comprising 2 retail tenancies and 96 residential units over 3 levels of basement parking for 195 vehicles including landscaping and associated stormwater works. Status- Decision Deferred



2017

Draft Cumberland Employment and Innovation Strategy and Land Use Planning Framework 2017 Cumberland Council has established the Draft Cumberland Employment and Innovation Strategy and

Land Use Planning Framework 2017 which provides a strategy through the development of a land use

planning framework to set the direction for the provision of employment lands across the Cumberland

Council local government area. The strategy aims to promote innovation and create additional

employment across a more diverse range of sectors. Furthermore existing industrial businesses are also

encouraged to expand and provide additional employment opportunities as well. Further information

is available on the Cumberland Council website.

Draft Auburn and Lidcombe Town Centre Strategy Cumberland Council has created a Draft Strategy to support continued development of the Auburn and

Lidcombe town centres in conjunction with the Greater Sydney Commission’s vision for the Greater

Parramatta and Olympic Peninsula precinct. Council is proposing to amend the Auburn LEP 2010 with

proposed changes to certain precincts in the Auburn and Lidcombe town centres. Some amendments

to zoning, floor space ratios and the provision of increased building heights are proposed to facilitate

improved built form, design and sustainable growth of the town centres. Improvements to access and

connectivity through the town centres and the provision of new open space have also been identified

as part of the strategy.

Planning Proposal of North Auburn (revised) A proposal was put forward to rezone land in the north Auburn precinct which is currently R3 Medium

density residential to R4 High density residential which is more in line with the existing development

within this precinct. The Department of Planning and Environment issued a revised Gateway

Determination for the proposal, and indicated to proceed with the proposal. The precinct includes

properties bounded and included by Macquarie Road, Parramatta Road (excluding B6 Enterprise

Corridor zoned sites), St Hilliers Road and Simpson Street in Auburn.

Planning Proposal – 2 Railway Street and 3-7 East Street, Lidcombe Cumberland Council is preparing a Voluntary Planning Agreement for the proposal to rezone land known

as 2 Railway Street and 3-7 East Street, Lidcombe. The proposal aims to increase the maximum floor

space ratio to 3.5:1 and building heights to 32 metres. Council is seeking as part of the rezoning the

dedication of some open space and any land required for roadworks as part of the proposal.

2 Percy Street, Auburn Proposal to add an additional permissible use to the IN2 Light Industrial zoning to allow for an

educational establishment and increase the existing floor space ratio from 1:1 to 1.2:1 to facilitate the

future redevelopment of the site via use of the existing building. The proposed amendment does not

make a change to the subject site’s existing zoning and Height of Buildings (HoB) under the Auburn Local

Environmental Plan 2010.

http://www.cumberland.nsw.gov.au/public-exhibition-of-north-auburn-revised-planning-proposal-pp-42012/

http://www.cumberland.nsw.gov.au/strategicplanning/planning-proposal-2-railway-street-3-7-east-street-lidcombe/



2017

Significant Value Changes Significant value changes – from prior council rating and annual valuation year Significant value changes at component level from the previous 2016 Base Date to the current 2017

Base Date have been undertaken. Residential zoned properties increased 16.16% from the previous

2016 General and Annual valuation year. Residential property in certain suburbs within the LGA have

overall increased at slightly different rates

Business zoned properties increased 17.84% from the previous 2016 General and Annual valuation year.

The Carter Street/Uhrig Road precinct which comprises partially of the small Newington Local Centre

zoned precinct reflected the highest value changes for the 2017 Base Date at the component level, in

line with analysed sales evidence. The adjoining High Density Residential properties were also increased

in line with the sales evidence within the precinct.

Industrial zoned properties increased 10.11% from the previous 2016 General and Annual valuation

year.

A number of properties have had significant movements in their Land Values in the 2017 valuation

program. Property NSW are informed of such changes to values during regular meetings throughout the

year. In some instances values have moved significantly where the variation does not just represent

normal market growth but is the result of increases in the development potential of a particular site.

Significant value changes often reflect:

• Planning changes allowing greater development potential.

• Fast paced market growth for particular properties.

• Sites where approval has been achieved for development of a scale which is greater than could be assumed when undertaking a valuation under the Valuation of Land Act 1916 considering the existing planning.

Other significant changes to values are the result of handcrafting through verification or value changes

to reflect sales analysis. Significant value changes are listed in the Valuation Analysis Report and have

been verified with a Risk Rating of 1 indicating a high value change.



2017

Overview Of The Quality Assurance Process Property NSW has been provided with a detailed valuation analysis report, which details the quality

assurance process of Crown Valuation Service and outlines that the verification process and certifies

that land values meet all statistical measures and component data analysis. In addition, a quality

statement and lists of high value and high risk properties is also provided in the valuation analysis report.

Checks have been undertaken to ensure that all properties have been valued, land values are consistent

with each other, land value bases have been correctly determined and all concessions and allowances

have been supplied. Additionally, properties that had land values amended through the objection or re

ascertainment process were individually examined to reconcile surrounding land values and ensure

accuracy of the grading of surrounding land values. Benchmarks and reference benchmarks are core

elements of the quality assurance processes and are identified and individually valued in accordance

with the Rating and Taxing Procedures Manual Version 7.1.1. Worksheets have been maintained on all

properties where calculations are required. We have also ensured that adjustments and assumptions

within the market analysis have been based on market evidence and have been fully documented and

rationalised.

Signed

Mark Everitt CONTRACT SERVICES MANAGER PARRAMATTA CONTRACT 14th November 2017

rown valuation servies final report ase date 1st july …€¦ · residential properties across all...

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