Green light for Marong

Bendigo Weekly | Bendigo Weekly | 25-Aug-2017

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The state government says its recent rezoning of more than 300 hectares of land at Marong should help boost employment and economic development in the region.

Planning minister Richard Wynne has given the green light to the Marong Business Park, paving the way for the City of Greater Bendigo to begin developing the jobs hub.

The Marong Business Park is one of the city’s top priorities. 

It’s expected to generate up to 3000 jobs in sectors such as manufacturing, logistics, research and development and service.

The land is located 500 metres west of Marong and 16 kilometres from Bendigo’s city

centre.

The government says it has got the planning right – striking the right balance between protecting nearby users of the land and catering for future requirements of the area.

An Environmental Significance Overlay buffer will not be applied after an independent panel found it was unnecessary to apply the overlay to surrounding Farming Zone land.

The planning scheme announcement means that the City of Greater Bendigo can now begin the next stage of development of the park.

BENDIGO’S central business district has seen another prime commercial property sold, with the high profile RACV building in Mitchell Street going under the hammer last Friday.

Situated on the corner of Garsed Street, the 435-square-metre property sold for $1.3 million, adding to other recent sales successes in the city’s heart that have reinforced the strong position of the local market.

The RACV is expected to relocate its operations to the Bendigo Marketplace in coming months.

New long-term residential tenancy legislation does not provide adequate protections for landlords and will place their investments at risk, the Real Estate Institute of Victoria has warned. 

REIV chief executive officer Gil King said the government has rushed the Residential Tenancies Amendment (Long-Term Tenancy Agreements) Bill 2017, failing to take into consideration the opinion of supply side stakeholders.

“The legislation will cap bonds to the equivalent of four weeks’ rent, which is inadequate protection for a home which may be tied up for potentially a decade,” he said.

In fact, four weeks’ bond is less than what is currently being obtained for many one-year leases in the Melbourne market.”

“Given the median house price in Melbourne is currently $822,000, a rental property is a significant financial asset for landlords and all future legislation needs to benefit all stakeholders – not just tenants.

“Without adequate protections for landlords, long-term leases will remain unattractive in the private rental market, rending this legislation ineffective in improving security of tenure for tenants.

“This rushed legislation will also negatively impact on tenants seeking stability, with a lack of incentives and protections unlikely to encourage landlords to offer long-term lease agreements.

“While the majority of tenants do the right thing, landlords and property managers represent around 60,000 applications at VCAT every year – the majority of which are for rent arrears and possession. 

“There are many cases when a tenant is more than three months in arrears before VCAT will grant the landlord a possession order. 

“A four-week bond will leave landlords significantly out of pocket in these instances.”

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