Sydenham-Bankstown Corridor · market desirability and feasibility of development to accommodate...

Sydenham-Bankstown CorridorEmployment Lands Analysis of Opportunity Sites

NSW Department of Planning & Environment

DRAFT


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Document ControlJob ID: 17917SYD

Job Name: Sydenham-Bankstown Corridor Employment Lands Analysis

Client: NSW Department of Planning & Environment

Client Contact: Emma Burke

Project Manager: Esther Cheong

Email: [email protected]

Telephone: 02 9283 8400

Document Name: Syd-Bankstown Employment Lands Analysis Final

Last Saved: 10/11/2015 1:49 PM

Version Date Reviewed Approved

Draft 23/06/2015 AH EC

Final 10/11/2015 AH EC

Disclaimer:

Whilst all care and diligence have been exercised in the preparation of this report, AEC Group Pty Ltd does notwarrant the accuracy of the information contained within and accepts no liability for any loss or damage thatmay be suffered as a result of reliance on this information, whether or not there has been any error, omissionor negligence on the part of AEC Group Pty Ltd or their employees. Any forecasts or projections used in theanalysis can be affected by a number of unforeseen variables, and as such no warranty is given that a particularset of results will in fact be achieved.


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Table of ContentsDOCUMENT CONTROL.......................................................................................... I

TABLE OF CONTENTS........................................................................................... I

1. INTRODUCTION ..........................................................................................4

1.1 BACKGROUND AND OVERVIEW ............................................................................... 4

1.2 SCOPE AND STRUCTURE OF THE STUDY ..................................................................... 5

PART A – SYDENHAM-BANKSTOWN CORRIDOR OPPORTUNITY SITES ................7

2. STUDY AREA AND PLANNING CONTEXT ......................................................7

2.1 INTRODUCTION ................................................................................................ 7

2.2 STRATEGIC AND LOCAL PLANNING CONTEXT ............................................................... 7

3. SITE 1 – DULWICH HILL............................................................................11

3.1 LOCATION AND OVERVIEW.................................................................................. 11

3.2 EMPLOYMENT PROFILE ...................................................................................... 11

3.3 MARKET ACTIVITY ........................................................................................... 14

4. SITE 2 - MARRICKVILLE ............................................................................15



4.3 MARKET ACTIVITY ........................................................................................... 18

5. SITE 3 - MARRICKVILLE ............................................................................20



5.3 MARKET ACTIVITY ........................................................................................... 24

6. ACCOMMODATING FUTURE GROWTH ........................................................25

6.1 DRIVERS OF DEMAND AND INFLUENCING FACTORS ...................................................... 25

6.2 ROLE AND FUNCTION OF EMPLOYMENT LANDS ........................................................... 26

6.3 PLANNING FOR EMPLOYMENT GROWTH .................................................................... 28

6.4 FUTURE OF EMPLOYMENT LANDS IN THE STUDY AREA ................................................... 29

6.5 RESIDENTIAL GROWTH AND IMPACT ON EMPLOYMENT OBJECTIVES.................................... 32

PART B – BANKSTOWN CBD ..............................................................................34

7. BANKSTOWN CBD CONTEXT......................................................................34

7.1 INTRODUCTION .............................................................................................. 34

7.2 LOCATIONAL CONTEXT ...................................................................................... 35

7.3 STRATEGIC AND LOCAL PLANNING CONTEXT ............................................................. 36

8. EMPLOYMENT PROFILE .............................................................................38

8.1 BANKSTOWN CBD........................................................................................... 38

8.2 COMPARISON AGAINST OTHER CENTRES .................................................................. 41

8.3 BANKSTOWN AS A STRATEGIC CENTRE.................................................................... 44

9. PROPERTY MARKET ASSESSMENT .............................................................45

9.3 DEVELOPMENT ACTIVITY .................................................................................... 46

9.4 MARKET FINDINGS AND FUTURE DEMAND ................................................................ 47


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10. FACILITATING FUTURE GROWTH ..............................................................48

10.1 BANKSTOWN CBD TODAY .................................................................................. 48

10.2 CONSIDERATIONS FOR BANKSTOWN’S FUTURE........................................................... 49

REFERENCES .....................................................................................................51


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1. Introduction1.1 Background and Overview

1.1.1 Sydenham to Bankstown Corridor

A Plan for Growing Sydney (The Plan) (DPE, 2014) identifies Sydenham-Bankstown as anurban renewal corridor and outlines delivery of the Sydney Rapid Transit (now known asthe Sydney Metro) linking Bankstown to the Sydney CBD and the North West Rail Link(NWRL).

A Plan for Growing Sydney (referred to as The Plan) seeks to work with Councils to identifysuitable areas for housing intensification and urban renewal, including existing employmentlands around priority precincts, established and new centres and transport corridors.

JBA has been engaged by Department of Planning and Environment (DPE) to undertake astrategic analysis of the Sydenham to Bankstown Corridor (referred to as The Corridor),investigating the key constraints, opportunities and issues of urban renewal in theSydenham to Bankstown Corridor. JBA’s analysis has identified areas along the Corridorwhich could potentially accommodate housing growth (referred to as ‘Opportunity Sites’).

AEC Group (AEC) has been commissioned by DPE to undertake an employment landsanalysis to understand the suitability of identified Opportunity Sites for residential andmixed use development along the Corridor. These opportunity sites are currently zoned forindustrial uses and DPE seeks to understand their current role and importance inaccommodating employment before considering their potential for accommodating dwellinggrowth.

AEC’s Employment Lands Analysis (referred to as the Study) considers the currentemployment role of the Opportunity Sites and their likely suitability to accommodate futureemployment. Those identified as Opportunity Sites by JBA include:

Site 1Land between New Canterbury Road and Hercules Street, Dulwich Hill

Site 2Land along Carrington Road and Junction Street, Marrickville

Site 3Land along Meeks Road and Meeks Lane, Marrickville

The Opportunity Sites are collectively referred to as ‘the Study Area’ and the Studyinvestigates the implications of rezoning these lands from a market perspective.

1.1.2 Bankstown CBD

The future role and function of the Bankstown CBD will be influenced by the completion ofthe Sydney Metro (formerly Sydney Rapid Transit) which will deliver a new rapid transitline linking the CBD to Bankstown, providing an increase in transportation services andresulting in greater transport efficiencies. Transport for NSW expects that the Sydney Metrowill provide an increase of 60% in the number of trains in peak times and provide servicesto an additional 100,000 customers per hour.

The Sydney Metro is Australia’s largest public transport project which is comprised of twocomponents:

Sydney Metro Northwest (formerly the North West Rail Link)This 36km project is under construction and will open in the first half of 2019.

Sydney Metro City and SouthwestA new 30km metro line linking with Metro Northwest at Chatswood, under SydneyHarbour, through the CBD and southwest to Bankstown. It is due to open in 2024.

Against the backdrop of the planned Sydney Metro project, DPE seeks to understand thefuture potential of Bankstown CBD to accommodate employment growth and opportunities.

AEC Group have been engaged to examine demand for employment uses in BankstownCBD and understand Bankstown’s ability to accommodate future employment growth.


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1.2 Scope and Structure of the Study

The objectives of this Study are two-fold:

1. An employment lands analysis to assist DPE in understanding the suitability of identifiedopportunity sites to accommodate residential growth along the Sydenham toBankstown Corridor, in particular considering their current and expected roles asemployment lands.

2. Analysis of Bankstown CBD’s potential to accommodate employment growth followingcompletion of the Sydney Metro (formerly Sydney Rapid Transit).

The Study is accordingly structured in two parts.

1.2.1 Part A: Sydenham-Bankstown Corridor Opportunity Sites

Part A carries out an employment lands analysis to understand the role and importance ofidentified opportunity sites (referred to collectively as ‘the Study Area’) in accommodatingemployment, particularly from a market perspective. Accordingly, the analysis incorporatesa review of the built form, locational offer and property market dynamics in the Study Area.

The ‘performance’ of employment lands can be inferred from market signals (e.g. pricesand rents, vacancies and incentives, nature of occupier interest), these market signalsinstructive on whether an area is performing or under-performing.

Chapter 2 examines the state and local planning context of three opportunity sites byconsidering respective land use zones, permissible uses and their employment role contextwithin the broader Marrickville LGA.

Chapters 3-5 examine the respective opportunity sites with respect to demand for andcapacity to meet employment floorspace demand.

Each chapter contains an analysis of the relevant employment profile to understandindustries that are represented and those that demand floorspace, if that demand isgrowing or declining. The employment analysis provides insight into the profile of currentemployment demand and future growth prospects.

Each chapter also contains a property market assessment which gathers and interpretsmarket intelligence to assess the capacity/ability of each opportunity site and surrounds inmeeting employment floorspace demand.

Chapter 6 brings together the analysis of the preceding chapters by considering eachopportunity site’s role and function as employment lands.

In ascertaining the extent to which future employment can be accommodated in the StudyArea, the chapter has regard to considerations such as: functionality, overall demand andmarket desirability and feasibility of development to accommodate future employment.Various macro and local influencing trends and factors are also considered.

The Study concludes by considering the extent to which alternate planning controls couldaccommodate future employment growth.

1.2.2 Part B: Bankstown CBD

An understanding of Bankstown CBD’s future employment potential is sought in light ofdelivery of the Sydney Metro, which could include a rail extension to Bankstown and thusimprove its overall connectedness.

Part B carries out an analysis of the current employment role and function of BankstownCBD in order to understand its future potential to accommodate employment growth.

Chapter 7 examines the state and local planning context of the Bankstown CBD byconsidering respective land use zones, permissible uses and its locational context.

Chapter 8 examines the employment profile of Bankstown CBD to understand its industrycomposition and how proportional employment has changed over time. This analysisprovides insight into the profile of current employment demand and growth.

The chapter also seeks to understand the comparative and competitive context ofBankstown CBD against the CBDs of Liverpool and Parramatta. Any future potential role in


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Bankstown CBD could play in accommodating greater employment could arguably positionit (Bankstown CBD) to compete with rival CBDs. A comparison of employment profiles andplanning controls additionally provides insight into key similarities and differences.

Chapter 9 investigates market activity in the Bankstown CBD property market tounderstand patterns of supply and demand as well as drivers of market and developmentactivity. Based on an interpretation of market intelligence and market signals, the analysisidentifies categories of future demand likely to be witnessed in Bankstown CBD.

Chapter 10 brings together the analysis of the preceding chapters to consider BankstownCBD’s future prospects to accommodate increased levels of business and employmentactivity.


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Part A – Sydenham-Bankstown CorridorOpportunity Sites

2. Study Area and Planning ContextThis chapter examines the planning context of employment lands in the three OpportunitySites identified, collectively referred to as ‘the Study Area’.

The subsequent three chapters (Chapter 3, 4, 5) will analyse the socio-economic profile ofthe Opportunity Sites to understand the employment role, function and capacity of each.Each chapter includes a review of the built form, locational offer and property marketdynamics. An understanding of market signals and dynamics are invaluable as proxy forperformance indicators of the Opportunity Sites in accommodating employment.

2.1 Introduction

The Study Area is located within the local government area (LGA) of Marrickville, withinthe inner west suburbs of Marrickville and Dulwich Hill approximately 10 kilometres fromthe CBD. The sites are accessible from major arterial roads and public transport linksprovided them with the requisite connections to key markets.

Site 1 - Dulwich HillLand between New Canterbury Road and Hercules Street, Dulwich Hill (zoned IN2 LightIndustrial).

Site 2 - MarrickvilleLand along Carrington Road and Junction Street, Marrickville (zoned IN1 GeneralIndustrial and IN2 Light Industrial).

Site 3 - MarrickvilleLand along Meeks Road and Meeks Lane, Marrickville (zoned B7 Business Park and IN2Light Industrial).

Traditionally the Study Area has accommodated a range of industrial uses which havetransitioned in recent years from heavier uses such as manufacturing and transport tolighter uses such as wholesaling and lighter manufacturing (leather goods and clothing)and non-industrial uses for the arts industry.

2.2 Strategic and Local Planning Context

2.2.1 A Plan for Growing Sydney

A Plan for Growing Sydney (DPE, 2014b) seeks to provide directions to improve liveabilityby identifying areas for future housing and employment growth and provide communityfacilities, open space and infrastructure whilst improving environmental wellbeing.

Marrickville LGA is located in the Central subregion which also includes Ashfield, BotanyBay, Burwood, Canada Bay, Leichhardt, Randwick, Strathfield, City of Sydney, Waverleyand Woollahra LGAs.

The Central subregion plays a dominant role in the social, cultural and economic future ofSydney. The subregion is recognised to accommodate high-value industries andemployment.

Priorities for the Central subregion which are relevant to Marrickville LGA and theOpportunity Sites include:

Preserve a corridor for Sydney Rapid Transit (now known as Sydney Metro).

Enable delivery of key transport projects to facilitate better connections to GlobalSydney, including Sydney Rapid Transit (now Sydney Metro), CBD and South East LightRail, and WestConnex.

Identify and protect strategically important industrial-zoned land.


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Work with Councils to identify suitable locations for housing intensification and urbanrenewal, including employment agglomerations, particularly around:

o Priority Precincts,

o Established and new centres, and

o Along key public transport corridors including the Airport, Inner West and SouthLine, the Eastern Suburbs and Illawarra Line, the Bankstown Line, Inner West LightRail, CBD and South East Light Rail, and Sydney Rapid Transit (now known as theSydney Metro).

Of particular relevance to this Study is Goal 1: A competitive economy with world-classservices and transport. A key direction is to support key industrial precincts with appropriateplanning controls. The Plan states the Government will:

Undertake an analysis of Sydney’s stock of industrial zoned land to identify keyindustrial Precincts and use the findings to:

o Determine where improved planning controls are required to better protectindustrial land from conversion to other uses;

o Identify where improved and innovative planning controls will allow for the ongoingevolution of industrial activities to more intensive commercial activities; and

o Update the Industrial Lands Strategic Assessment Checklist.

Assess new proposals to convert existing industrial zoned land to other uses under theIndustrial Lands Strategic Assessment.

It poses questions about whether the site is near or within direct access to keyeconomic infrastructure, how it contributes to a significant industry cluster, and howthe proposed rezoning would impact on industrial land stocks and employmentobjectives in each subregion.

2.2.2 Local Planning Context

The Study Area is subject to the provisions of the Marrickville Local Environmental Plan(2011), subject to the land use zones of IN1 General Industrial, IN2 Light Industrial andB7 Business Park.

The three Opportunity Sites under analysis are designated with one or more of the followingzones. The objectives and permissible uses of each zone are outlined.

IN1 General Industrial

The objectives of the IN1 General Industrial zone are to:

Provide a wide range of industrial and warehouse land uses.

Encourage employment opportunities.

Minimise any adverse effect of industry on other land uses.

Support and protect industrial land for industrial uses.

Protect industrial land in proximity to Sydney Airport and Port Botany.

Enable a purpose built dwelling house to be used in certain circumstances as a dwellinghouse.

Uses permitted with consent include: Agricultural produce industries, depots, dwellinghouses, freight transport facilities, general industries, industrial training facilities, intensiveplant agriculture, kiosks, light industries, markets, neighbourhood shops, roads, take awayfood and drink premises, timber yards, warehouse or distribution centres.

Home occupations are permitted without consent.

IN2 Light Industrial

The objectives of the IN2 Light Industrial zone are to:

Provide a wide range of light industrial, warehouse and related land uses.


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Encourage employment opportunities and to support the viability of centres.

Minimise any adverse effect of industry on other land uses.

Enable other land uses that provide facilities or services to meet the day to day needsof workers in the area.

Support and protect industrial land for industrial uses.

Provide business and office premises for the purposes of certain art, technology,production and design sectors.

Enable a purpose-built dwelling house to be used in certain circumstances as a dwellinghouse.

Uses permitted with consent include: depots, dwelling houses, garden centres, hardwareand building supplies, hospitals, industrial training facilities, intensive plant agriculture,kiosks, landscaping material supplies, light industries, markets, neighbourhood shops,plant nurseries, roads, sewage reticulation systems, take away food and drink premises,vehicle sales or hire premises, warehouse or distribution centres.


B7 Business Park

The objectives of the B7 Business Park zone are to:

Provide a range of office and light industrial uses.

Encourage employment opportunities.

Enable other land uses that provide facilities or services to meet the day to day needsof workers in the area.

Provide for limited residential development in conjunction with permissible activeground floor uses.

Provide business and office premises for the purposes of certain art, technology,production and design sectors.

Enable a purpose-built dwelling house to be used in certain circumstances as a dwellinghouse.

Uses permitted with consent include: child care centres, dwelling houses, garden centres,hardware and building supplies, intensive plant agriculture, kiosks, landscaping andmaterial supplies, light industries, markets, neighbourhood shops, office premises,passenger transport facilities, plant nurseries, residential flat buildings, respite day carecentres, roads, shop top housing, take away food and drink premises, vehicle sales or hirepremises, warehouse or distribution centres.


Marrickville Employment Lands Study (2008, 2014)

An Employment Lands Study was prepared in 2008 (referred to as the 2008 ELS) to provideMarrickville Council with strategic planning advice on industrially zoned employment lands.A review and update of the Employment Lands Study (referred to as the 2014 ELS) wascarried out in 2014.

The 2014 ELS notes the following precinct changes wherein employment lands wereadded/deleted from overall industrial land stock.

Table 2.1. Net Change to Employment Land Stock

PrecinctTotal Employment Land Net Change

(ha)2010 (ha) 2014 (ha)Lewisham, Old Canterbury Road 3.1 0.6 -2.5Marrickville precinct 70.7 66.2 -4.5Princes Highway frontages 13.7 7.9 -5.8St Peters, Princes Highway 12.1 16.6 +4.5

Source: DPE (2014a, 2011)


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Overall, gains to employment land stocks were outweighed by losses in the rezoning ofemployment lands, i.e. net loss of 28.1ha since 2010.

The 2014 ELS recognises the importance of the Marrickville-Sydenham precinct within theGlobal Economic Corridor and acknowledges the tension between employment lands andresidential uses.

The 2014 ELS also notes that land use constraints associated with proximity to the airportand port may limit Marrickville’s ability to deliver the 8,000 additional jobs projected in theDraft Metropolitan Strategy to 2031 (DPI, 2013). Notwithstanding, the ELS comments thatMarrickville’s recent inclusion within the Central subregion is an indication of its strategicimportance, as well as shared characteristics and strength of economic linkages with theSydney CBD.

The 2008 ELS recommended that land along Meeks Road (of which Site 3 is a part) bepermitted for live-work development in the short term and in the longer term be positionedfor renewal into residential uses.

The 2014 ELS considered a proposal to rezone Site 2 and recommends that the CarringtonRoad precinct be considered as an opportunity for urban renewal to accommodate acombination of residential and light industrial uses.

Overall, the 2014 ELS recommends that any rezoning to B4 Mixed Use should notcompromise existing industrial activity and not risk the ability of the LGA to meetdesignated employment targets.


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3. Site 1 – Dulwich Hill3.1 Location and Overview

Site 1 is located on New Canterbury Road and has a rear frontage to Hercules Street. Thesite is bounded by Kintore Street in the east and the railway line in the east. It isapproximately 10 kilometres from the CBD and proximate to the retail centres ofMarrickville, Dulwich Hill, Hurlstone Park and Summer Hill.

The site measures approximately 4,674sqm and is zoned IN2 Light Industrial with adesignated FSR of 0.95:1. Comprising a number of allotments (14 lots), existing buildingscomprise various shopfronts and an older style double storey warehouse and factory withaccess via Hercules Street and New Canterbury Road. A Greek Orthodox Church frontsHercules Street.

While uses along New Canterbury Road comprise a mix of retail and commercial premises,the uses that surround Site 1 are predominantly residential in nature, with a mix of singledetached dwellings and residential unit blocks.

Figure 3.1: Aerial Photograph of Site 1

Source: Nearmap (2015)

3.2 Employment Profile

In order to better understand the employment and activity occurring on Site 1, AustralianBureau of Statistics data (ABS, 2012) and Bureau of Transport Statistics data (BTS, 2012)were used.

The ABS Statistical boundary does not align with the Site, accordingly the data collectedrelates to the broader area and considers a much larger employment catchment(referred to as the Broader Catchment).

The specific employment profile of Site 1 is therefore not reflected in the analysis. Thatsaid, the employment profile provides a contextual indication of employment structurein the broader Dulwich Hill/Marrickville area.


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Workers in Site 1 and the Broader Catchment are comprised primarily of professionals andcommunity and personal service workers with a large proportion of those employed acrosswhite collar dominated sectors, such as health care and social assistance and educationand training.

Figure 3.2: Site 1 Statistical Area Definition

Source: ABS (2012)

Table 3.1. Site 1 Employment Profile Overview

Indicator Site 1

Total Employment2011 410

2006 357

Increase 2006-2011 (number) 52

Increase 2006-2011 (percentage) 14.7%

Key Sectors (2011, % of Total Employment)

Largest Employer Health Care and Social Assistance (17.5%)

Second Largest Employer Education and Training (12.6%)

Key Occupations (2011, % of Total Employment)Predominant Occupation Professionals (27.2%)

Second Predominant Occupation Community and Personal Service Workers (23.4%)*Place of Work dataSource: ABS (2007), ABS (2012)

The following section investigates at a finer grain the composition of employment.

3.2.1 Employment by Industry

Analysis of employment by industry assists in determining the role and function of a site,or in this case, Site 1 and the Broader Catchment.

In 2011, Site 1 and the Broader Catchment employed a total of 410 workers, an increaseof nearly 15% from 2006.

Health care and social assistance (17.5%), education and training (12.6%) andprofessional scientific and technical services (12.5%) are key service industries as aresult of primary and secondary education facilities, local health services andprofessional services, such as accountants, located therein.


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Less represented service sectors, include industries such as accommodation and foodservices (12.3%) and retail trade (8.7%), which cater to local residents and businessneeds also feature in Site 1 and the Broader Catchment.

Figure 3.3: Employment by Industry, Site 1, 2011 and 2006

Note: Place of Work Data.Source: ABS (2007), ABS (2012)

The largest proportional growth in employment (2006-2011) is observed to be in healthcare and social assistance, accommodation and food services and professional, scientificand technical services. These indicates further consolidation of white collar industries.

Further disaggregation of health care and social assistance (refer to Table 3.2) shows thatmedical and other health care and social assistance services grew between 2006 and 2011.

Table 3.2. Employment by Industry, Site 1, 2006-2011 (Health Care and Social Assistance,2-digit ANZSIC)

Industry 2006 2011 Change, 2011-2006

Hospitals 0 0.0% 0 0.0% 0 0.0%

Medical and Other Health Care Services 28 7.7% 34 8.3% 6 21.4%

Residential Care Services 8 2.1% 10 2.4% 2 25.0%

Social Assistance Services 20 5.5% 8 6.8% 8 40.0%

Health Care and Social Assistance 55 100.0% 72 100.0% 17 30.9%Source: ABS (2012)

3.2.2 Journey to Work Analysis

Journey to work data analyses where employees commute from (analysed at an LGAgeography for source of workers). Such analysis is useful to understand the nature of theuse of employment lands and to determine whether the employment lands play a local roleor if they play a broader regional role in accommodating employment.

Analysis of journey to work data suggests extensive commuting for many workersemployed across Site 1, with 22.1% of workers living in Canada Bay, 19.1% in Liverpooland 14.6% in Manly.

0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20%

Mining

Agriculture, Forestry and Fishing

Transport, Postal and Warehousing

Wholesale Trade

Information Media and Telecommunications

Public Administration and Safety

Rental, Hiring and Real Estate Services

Administrative and Support Services

Arts and Recreation Services

Other Services

Construction

Financial and Insurance Services

Manufacturing

Retail Trade

Accommodation and Food Services

Professional, Scientific and Technical Services

Education and Training

Health Care and Social Assistance

% of Total Employment

2011

2006


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Table 3.3. Worker Movement to Site 1, 2011LGA Employed Persons (No.) % of TotalCanada Bay 82 22.1%Liverpool 71 19.1%Manly 54 14.6%Bankstown 33 8.9%Strathfield 17 4.6%Other 114 30.7%Total 371 100.0%

Note: Figures may not add due to the different data sources used ABS (2012), and BTS (2012) and due to rounding.Source: BTS (2012)

3.2.3 Summary of Key Findings

Key findings identified from the employment profile analysis include:

Employment in Site 1 and the Broader Catchment are dominated by service industriessuch as health care and social assistance, education and training and professionalscientific and technical services. These service sectors also comprised the largestincrease in employment across the 2006 to 2011 period.

A small proportion of employees (15.3%) work in blue collar occupations with themajority of employees employed in white collar jobs.

Notable employment growth is witnessed over the 2006-2011 period, total employmentin the Broader Catchment increasing by nearly 15%.

A large proportion of employees are not local Marrickville LGA residents, the top threeLGAs represented include Canada Bay, Liverpool and Manly. This suggest that theBroader Catchment plays a wider regional employment role.

3.3 Market Activity

Existing employment floorspace in Dulwich Hill is typically accommodated in retail andcommercial properties along New Canterbury Road in the business zones (B1 and B2),there being limited industrial zoned lands. The majority of the employment floorspace alongNew Canterbury Road is zoned B1 Neighbourhood Centre or B2 Local Centre.

Due to the lack of industrial zoned land in Dulwich Hill the industrial property market istightly held with limited properties available on the market. Properties which do becomeavailable are typically sought after by non-industrial uses such as gyms and dance studios.

There have been a number of recent transactions observed along New Canterbury Road.Interest in properties is from investors, owner occupiers and developers with many sitessold with a view for future redevelopment. Sites along New Canterbury Road are observedto achieve sale prices in the order of $3,000/sqm to $5,500/sqm of site area.

Informal discussions with sales and leasing agents active in the area suggest that giventhe limited availability of industrial sites in Dulwich Hill, occupiers generally look toMarrickville and Sydenham which are thought to offer better vehicular access.

Site 1 appears to be well occupied by a variety of businesses including printing, sewing,tailoring and tiling businesses, the nature of these businesses does not require a specialindustrial zone within which to operate. Strong rental levels (circa $300/sqm of lettablearea) indicate strong demand for space in the location.

The nature and configuration of Site 1 (small allotments) as well as its location within anestablished and populous residential area provide it with an opportunity to accommodatea range of service businesses, in line with the employment profile in section 3.2.Furthermore, the profile of existing businesses suggest they could be accommodated in abusiness zone.


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4. Site 2 - Marrickville4.1 Location and Overview

Site 2 is located at Carrington Road in Marrickville and within that which is referred to asthe ‘Carrington Road precinct’. The site is bounded on its eastern boundary by the railwayline and is located approximately 10 kilometres to the south of the CBD.

The site measures almost 15ha and is zoned IN1 General Industrial and IN2 Light Industrialand with a designated FSR of 0.95:1. Existing uses are a mix of industrial buildings andwarehouses, smaller industrial premises and industrial strata units.

The site is serviced by public transport located between Tempe and Marrickville trainstations, major arterial access is provided from Princes Highway to the southeast of thesite.

Figure 4.1: Aerial Photograph of Site 2



In order to better understand the employment and activity occurring on Site 2, AustralianBureau of Statistics data (ABS, 2012) and Bureau of Transport Statistics data (BTS, 2012)were used.

The ABS Statistical boundary does not exactly align with the Site, accordingly the datacollected relates to the broader area and considers a much larger employment catchment(referred to as the Broader Catchment).

The specific employment profile of Site 2 is therefore an approximation in the analysis,the employment profile providing a contextual indication of employment structure in thebroader Marrickville area.

The employment profile of Site 2 is distinct from Site 1. A large proportion of workers areemployed in industries such as transport, postal and warehousing and manufacturing, alarge proportion of blue collar occupations represented (e.g. machinery operators, drivers).


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Source: ABS (2012)


Indicator Site 2Total Employment

2011 1,107

2006 1,058




Largest Employer Transport, Postal and Warehousing (17.7%)

Second Largest Employer Manufacturing (16.8%)

Key Occupations (2011, % of Total Employment)

Predominant Occupation Machinery Operators and Drivers (19.2%)

Second Predominant Occupation Professionals (18.8%)*Place of Work dataSource: ABS (2007), ABS (2012)



Analysis of employment by industry assists in determining the role and function of a site,of in this case, Site 2 and the Broader Catchment.

In 2011, Site 2 and the Broader Catchment employed a total of 1,107 workers, a modestincrease of just less than 5% from 2006.

Owing to its strategic location and connectivity to the M5 Motorway and Sydney Airport,a high proportion of workers are employed in industrial sectors such as transport, postaland warehousing (17.7%), manufacturing (16.8%) and wholesale trade (12.5%).

Industrial sectors (i.e. manufacturing, construction, wholesale trade, transport) employmore than 50% of workers in Site 2 and the Broader Catchment.


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The largest proportional growth in employment (2006-2011) is observed to be in transport,postal and warehousing, health care and social assistance and wholesale trade.Manufacturing and information media and telecommunications contracted in employmentover the same period.

Further disaggregation of the transport, postal and warehousing sector as shows that therewas an increase in employment in the road transport sub-sector which was an increase ofover 50% of total jobs in 2006. Similarly transport support services also increased inemployment.

Table 4.2. Employment by Industry, Site 2, 2006-2011 (Transport, Postal and Warehousing,2-digit ANZSIC)

Industry 2006 2011 Change, 2011-2006

Road Transport 84 7.9% 130 11.8% 46 54.7%

Rail Transport 0 0.0% 0 0.0% 0 0.0%

Water Transport 0 0.0% 0 0.0% 0 0.0%

Air and Space Transport 0 0.0% 0 0.0% 0 0.0%

Other Transport 0 0.0% 0 0.0% 0 0.0%

Postal and Courier Pick-up and Delivery Services 5 0.5% 5 0.5% 0 0.0%

Transport Support Services 26 2.5% 44 4.0% 18 69.2%

Warehousing and Storage Services 12 1.1% 17 1.5% 5 41.6%

Transport, Postal and Warehousing 127 100.0% 196 100.0% 69 54.3%Source: ABS (2012)


Journey to work data analyses where employees commute from (analysed at an LGAgeography for source of workers). Such analysis is useful to understand the nature of theuse of employment lands and determine if the employment lands play a local role or if theyplay a broader regional role in accommodating employment.

0.0% 2.5% 5.0% 7.5% 10.0% 12.5% 15.0% 17.5% 20.0%









Construction

Other Services



Retail Trade


Wholesale Trade

Manufacturing



2011

2006


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In contrast to Site 1, the journey to work data suggest a high proportion of workers livelocally, either in Marrickville LGA or in the adjoining LGA of Canterbury.

Table 4.3. Worker Movement to Site 2, 2011

LGA Employed Persons (No.) % of TotalMarrickville 255 23.0%Canterbury 121 10.9%Rockdale 107 9.6%Sutherland Shire 65 5.9%Bankstown 57 5.1%Other 505 45.5%Total 1,110 100.0%




Employment in Site 2 and the Broader Catchment is dominated by industrial sectorssuch as transport, postal and warehousing, manufacturing and wholesale trade. Theseindustrial sectors comprised more than 50% of employment in 2011.

A large proportion of employees (nearly 40%) work in blue collar occupations(technicians and trades workers, machinery operators and drivers, and labourers).

Modest employment growth was witnessed over the 2006-2011 period, totalemployment in the Broader Catchment increasing by just under 5%.

A large proportion of workers (43.5%) live locally, in Marrickville LGA and neighbouringLGAs of Canterbury and Rockdale. This suggests that Site 2 and the Broader Catchmentplays a local role and also a broader regional role in accommodating employment.

4.3 Market Activity

A Shift in Business Activity

Site 2 is generally well occupied with many uses transitioning from heavier traditionalindustrial uses to lighter industrial uses. Some businesses have sought to relocate toSydney’s Western suburbs and Botany where access and larger floorplate accommodationrequirements are able to be met.

Informal discussions with sales and leasing agents active in the area suggest that althoughmany buildings within the site are dated and floorspace not ideally suited to modern uses,the location of the area to major arterial roads, access and proximity to key markets hasunderpinned the continued viability of Site 2. The site is observed to have transitioned overtime to accommodate lighter industrial uses (e.g. manufacturing of leather goods andclothing) in response to overall population growth.

Sales and Leasing Activity

The attractiveness of Site 2’s location has translated into reasonably steady demand withlimited vacancies observed. Smaller properties attract greater demand compared to largerpremises. Informal discussions with local agents reveal that properties with floor areasover 500sqm are typically met with softer demand with net rents in the order of $100/sqm-$125/sqm of floor area and leasing-up periods of up to 7 months. In contrast, smallerproperties could achieve closer to $200/sqm of floor area in net rent and take less than 3months to lease.

Due to the limited supply of larger industrial sites, sites are highly sought after with sitesachieving between $2,000/sqm and $4,500/sqm of overall site area. A recent sale at 25Carrington Road (361sqm) sold for $1,575,000 (equating to a rate of almost $4,400/sqmsite area and 5.8% market yield) to an investor is testament to the strong tenant demandfor industrial premises. The 2 storey building is now leased by Lush (soap and candledistributer) for $92,070/sqm net ($110/sqm of floor area).


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There has been strong rental demand for a fairly new industrial strata development locatedat 49 Carrington Road. Discussions with the marketing agent suggest net rents are in theorder of $230/sqm-$250/sqm of lettable area. Units in the strata development rangebetween 150sqm and 300sqm in floor area with demand observed to be for a range ofuses, from audio and leather manufacturers and storage uses. Sales activity in the complexis also strong with a take-up of all 27 units within 18 months of completion. Sales rates inthe development were upwards of $3,200/sqm of building area.

Land Values and Redevelopment Prospects

The industrial strata development at 49 Carrington Road (8,000sqm) was acquired for$6,300,000 by a developer in 2007, equating to $790/sqm of site area.

In comparison to the recent sale of 25 Carrington Road which achieved almost $4,400/sqmof site area, it is unlikely that re-development of existing uses into industrial uses will beviable due to cost of land, save for in the instance a parcel of vacant land is available fordevelopment.

There is nevertheless demand for floorspace by a range of industrial and business occupiersin Site 2 and the Broader Catchment. Population growth necessitates a range of productsand services to satisfy household and business consumption, thereby leading toemployment in various manufacturing and service sectors.

Future planning for Site 2 and the Broader Catchment should have regard to the provisionof employment floorspace to suit a range of business and light industrial activity.


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5. Site 3 - Marrickville5.1 Location and Overview

Site 3 is located along Meeks Road and is bounded by Marrickville Road to the northeastand the railway line to the southwest. The site is located approximately 10 kilometres fromthe CBD and offers easy access to public transport connections with buses on MarrickvilleRoad and Marrickville and Sydenham train stations in close proximity.

The site measures less than 3ha and is zoned B7 Business Park (west of Meeks Road) andIN2 Light Industrial (east of Meeks Road) with a designated FSR of 0.95:1.

The larger precinct of Meeks Road is predominantly occupied by aged industrialwarehousing and offices with sporadic newer developments also in the area. Traditionalindustrial activity is increasingly no longer undertaken in the precinct due to accessconstraints and the high cost of land, many heavier industrial uses thereby relocating toSydney’s south and western suburbs. There has been a corresponding increase in demandfrom light industrial uses in support of a growing population.

As the area continues its transition to lighter industrial and mixed business activity, thereis a noticeable shift in businesses floorspace requirements with many lighter industrial andbusiness uses (e.g. arts and recreation uses, food and beverage manufacturing uses)requiring smaller floorplates of accommodation.

Figure 5.1: Aerial Photograph of Precinct 3



In order to better understand the employment and business activity occurring on Site 3,Australian Bureau of Statistics data (ABS, 2012) and Bureau of Transport Statistics data(BTS, 2012) were used.


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The ABS Statistical boundary does not align with the Site, accordingly the data collectedrelates to the broader area and considers a much larger employment catchment(referred to as the Broader Catchment).

The specific employment profile of Site 3 is therefore not reflected in the analysis. Thatsaid, the employment profile provides a contextual indication of employment structurein the broader Marrickville area.

Similar to Site 2, workers in Site 3 and the Broader Catchment are represented by a largeproportion of blue collar dominated industries, such as manufacturing, which employs morethan one third of employees.


Source: ABS (2012)


Indicator Site 3

Total Employment2011 1,970

2006 1,845




Largest Employer (%) Manufacturing (37.4%)

Second Largest Employer (%) Wholesale Trade (18.7%)

Key Occupations (2011, % of Total Employment)Predominant Occupation (%) Technicians and Trades Workers (19.4%)

Second Predominant Occupation (%) Managers (17.2%)*Place of Work dataSource: ABS (2007), ABS (2012)



Analysis of employment by industry assists in determining the role and function of a site,or in this case, Site 3 and the Broader Catchment.


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In 2011, Site 3 and the Broader Catchment employed a total of 1,970 workers, an increaseof nearly 7% from 2006.

Manufacturing in particular represents an important sector for Site 3, contributing 737workers (or 37.4% of employment). Wholesale trade (18.7%) and transport, postaland warehousing (7.1%) are also important employment sectors.

Industrial sectors employ more than 1,300 workers combined, representing more than68% of employment in Site 3 and the Broader Catchment.

Despite its importance to Site 3 and the Broader Catchment, there has been a reductionin manufacturing employment of 1.9% between 2006 and 2011.



Retail trade grew in employment (2006-2011) as did transport, postal and warehousing.

Further disaggregation of manufacturing shows that although there was a contraction ofthe presence of this industry against other industries there was a net increase of 12manufacturing jobs in 2011 from 2006.

The growth in food manufacturing employment of nearly 31% is notable (Table 5.2).

Table 5.2. Employment by Industry, Site 3, 2006-2011 (Manufacturing 2-digit ANZSIC)

Industry 2006 2011 Change, 2011-2006

Food Product Manufacturing 236 12.8% 309 15.7% 73 30.9%

Beverage and Tobacco Manufacturing 0 0.0% 0 0.0% 0 0.0%

Textile, Leather, Clothing and FootwearManufacturing

315 17.1% 253 12.9% -62 -19.6%

Wood Product Manufacturing 9 0.5% 8 0.4% -1 -11.1%

Pulp, Paper and Converted Paper ProductManufacturing

0 0.0% 0 0.0% 0 0.0%

Printing (including the Reproduction of RecordedMedia)

34 1.8% 24 1.2% -10 -29.4%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0%





Mining






Other Services

Construction



Retail Trade

Wholesale Trade

Manufacturing


2011

2006


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Industry 2006 2011 Change, 2011-2006

Petroleum and Coal Product Manufacturing 0 0.0% 0 0.0% 0 0.0%

Basic Chemical and Chemical ProductManufacturing

0 0.0% 0 0.0% 0 0.0%

Polymer Product and Rubber ProductManufacturing

22 1.2% 36 1.8% 14 63.6%

Non-Metallic Mineral Product Manufacturing 13 0.7% 13 0.7% 0 0.0%

Primary Metal and Metal Product Manufacturing 9 0.5% 10 0.5% 1 11.1%

Fabricated Metal Product Manufacturing 3 0.2% 5 0.2% 2 66.6%

Transport Equipment Manufacturing 0 0.0% 0 0.0% 0 0.0%

Machinery and Equipment Manufacturing 24 1.3% 24 1.2% 0 -0.1%

Furniture and Other Manufacturing 59 3.2% 54 2.8% -4 -6.7%

Manufacturing 725 100.0% 737 100.0% 12 1.6%Source: ABS (2012)


Journey to work data analyses where employees commute from (analysed at an LGAgeography for source of workers). Such analysis is useful to understand the nature of theuse of employment lands to determine whether the employment lands play a local role orit they also play a broader regional role in accommodating employment.

Analysis of journey to work data suggests similar commuting patterns in Site 3 and Site 2and their Broader Catchments. A third of workers in Site 3 and the Broader Catchment livelocally, in Marrickville (11.3%) and neighbouring LGAs of Canterbury (14.1%) andRockdale (7.9%). The remainder of employees commute from further away.

Table 5.3. Workers Movement to Site 3, 2011

LGA Employed Persons (No.) % of TotalCanterbury 269 14.1%Marrickville 216 11.3%Rockdale 151 7.9%Bankstown 135 7.1%Sydney 108 5.6%Other 1,035 54.1%Total 1,915 100.0%




Employment in Site 3 and the Broader Catchment is dominated by industrial sectors,similar to Site 2 and its Broader Catchment. However manufacturing in particular,represents an important sector for Site 3 and its Broader Catchment, employing 737workers which corresponds to nearly 40% of total employment.

Industrial sectors employ more than 1,300 workers combined across Site 3 and theBroader Catchment, representing two thirds of total employment.

While the proportional representation of manufacturing declined in the 2006-2011period, there was a net increase in the number of manufacturing jobs, with notablegrowth in food product manufacturing.

Nearly 50% of employees were employed in blue collar positions in 2011, unsurprisinglygiven the concentration of industrial-type sectors within the area.

A large proportion of workers live locally (33.3%) in Marrickville and neighbouring LGAsof Canterbury and Rockdale. This suggests that Site 3 and the Broader Catchment playsa local role but also a broader regional role in accommodating employment.


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5.3 Market Activity

A Shift in Business Activity

Similar to Site 2, Site 3 is increasingly occupied by lighter industrial uses with a mix ofbusiness activity observed in the area, many of which respond to population driven demandfor product and services.

An area that was previously dominated by traditional industrial uses, a number of industrieswith ‘lighter’ accommodation requirements have taken up space in the area, e.g.professional uses, arts and recreation, food manufacturing and distribution. Furthermore,a number of ‘creative’ sectors (e.g. graphic designers, printing and food uses includingcoffee and beer production) have sought space in the Meeks Road broader area. Somesites are understood to accommodate a mix of uses with tenants working in a collaborativecommunal setting with 4 or 5 occupiers.

As the desire for industrial/business floorspace in inner city locations increases, demand-driven cost of floorspace is putting pressure on many tenants. Industrial floorspace isincreasingly accommodating fewer traditional industrial uses with more service businessesand lighter industrial uses seeking accommodation. Marrickville represents a cost-effectiveproposition compared to locations such as Surry Hills and Alexandria for many food-basedand arts uses, with rents are typically 20-30% cheaper.

Overall Market Desirability

Informal discussions with sales and leasing agents active in the local area reveal thatproperties sub-500sqm generally achieve net rents of approximately $150/sqm. Largerproperties with floor areas over 500sqm achieve net rents between $120/sqm and$125/sqm and properties over 2,000sqm achieving net rents of $90-$100/sqm.

Leasing-up periods can vary depending on the price point and property type and can rangefrom a month to 8 months.

Even though Site 3 straddles two land use zones - B7 Business Park on the western sideof Meeks Road and IN2 Light Industrial on the eastern side of Meeks Road, market activityand price levels do not appear to distinguish between the zones. A sale at 13 Meeks Road(297sqm) in August 2012 to an owner occupier in the rag trade achieved $780,000,equating to $2,400/sqm of site area.

The overall precinct performs well and appears to have transitioned well from its heavierindustrial past to accommodate a mix of business activity. Vacancy rates are nominal,thought to be sub-1%.

Site 3 is located in an established and growing residential area and is part of one ofMarrickville’s main industrial precincts. Population growth necessitates a range of productsand services to satisfy household and business consumption, thereby leading toemployment in various manufacturing and service sectors. It is therefore not surprisingthat Site 3 and its surrounds are well occupied and sought after.


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6. Accommodating Future Growth6.1 Drivers of Demand and Influencing Factors

Australian industry is undergoing a significant transition. Embracing this transition at alocal level requires firstly the need to identify national trends which will likely shape thedemand for specific types of industrial lands.

Businesses which continue to undertake industrial activity in Australia must do so byleveraging competitive advantages. These are often high value-added operations, whichutilise advanced technology and draw from Australia’s relatively large pool of skilled labour.

The following trends are likely to influence sustainable outcomes for the Study Area interms of accommodating future employment growth.

Demand for Transport and Logistics

Transport and logistic activities are vital to the Australian economy, underpinning a diverserange of industries and activities (ABS, 2012). The five years through to 2013 saw theindustry’s contribution to the overall economy grow 11.0% (IBISWorld, 2014)1. Trends inthe industry’s growth are forecast to grow at 3.5% per annum over the 10 years through2018-19, outperforming the national economy (IBISWorld, 2014). Consequently, theIntegrated Logistics sector in Australia will contribute a larger share to the economy in2018-19 compared with 2008-09.

Transport and logistics operators typically require strategic locations from which to servicenational markets by rail and road. Large floorplate accommodation is also a key.

Australian Manufacturing Transition

Traditional manufacturing in Australia is rapidly changing in an effort to survive on theglobal market. Manufacturers are redefining their operations and the scope of theiractivities by adopting technologies which offer new and exciting innovation. As this battlefor survival occurs, innovative thinking brings about new ways of adding value to productsand incorporating new technologies into the production process.

ABS data (2013) highlight the manufacturing sector continues to invest more than anysector in Australia towards Research and Development (R&D) ($4.4 billion or 24% of totalbusiness expenditure on R&D in 2011-12). Such large investment into R&D has given theindustry access to a high level of technology, which provides a solid base for themanufacturing sector to transition towards more advanced technologies.

As the wealth of citizens in China, India and various South-East Asian countries to grow,new opportunities arise for Australia with the increase in demand for high value-addproducts. Trends in the shift to high degrees of advanced manufacturing to service theserapidly growing economies of scale have been recently emerging, illustrated by examplessuch as Codan, NOJA Power and Liferaft Systems Australia (CEDA, 2014).

Accordingly, demand for traditional manufacturing floors is replaced by demand for lighterindustrial accommodation, often with a larger office component of floorspace toaccommodate R&D, marketing and distribution functions.

Local Service Industry

Local Marrickville employment grew by approximately 10% between 2006 and 2011.Despite growth across most industry sectors there was contraction in employment inmanufacturing, wholesale trade, and financial and insurance services.

Similar to many local economies, the Marrickville economy is changing. A variety of factors,some local and many global are changing the make-up and economic structure ofMarrickville. Employment losses in traditional industrial sectors like manufacturing andwholesale trade are giving way to increases in health care, public administration andnumerous service-sector jobs.

1 Measured as Industry Value Add (IVA), which is described as the industry’s contribution to GDP.


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Food product suppliers and distributors, panel beaters and smash repairers, clothingwholesalers, alarm and security system installers are examples of local service industriesthat require floorspace in locations that are close to suppliers, key markets and labour pool.

Implications for the Study Area

The composition and configuration of industrial land in the Study Area do not lend itself tobeing attractive to large logistics and supply chain tenants. These tenants require largefloorplates at competitive rates, and are presently best served in Western Sydney whereland is available in greater abundance and at comparatively lower rates.

Despite the poor suitability of the Study Area to meet floorspace demand of large logisticsand supply chain occupiers, each Study Area and catchment nevertheless plays a role inaccommodating different employment types, each with a different industry focus.

Site 1 catchment is focused on service-type industries, while

Site 2 and 3 catchments are focused on more industrial-type activities, particularly onwarehousing and distribution, wholesaling as well as manufacturing that is invested inknowledge, technology, innovation and value adding activities.

This is in line with Australian manufacturing trends, which sees greater emphasis oninnovative and knowledge-based industrial activities, as the pressure from competingglobal markets increases.

Owing to the shrinking role of traditional manufacturing over the last decade, the StudyArea has witnessed the exit of many businesses. Some traditional manufacturingbusinesses have contracted or closed down, while others have consolidated and relocatedto other parts of Sydney where accommodation prices may be cheaper. That said, themanufacturing industry is still of significance to the Marrickville local economy, particularlyin the sectors of food product and beverage manufacturing.

In support of the diversification and innovation of existing business, the Study Areacatchments have attracted medium and larger sized enterprises across a range ofindustry activity, many of which feed off household and local business consumption.

Growth in business and employment in response to population growth will mean acontinued demand for employment floorspace.

6.2 Role and Function of Employment Lands

Employment and Industry Profile

The Marrickville LGA’s employment structure differs slightly from each of the opportunitysites, indicative of a degree of industry specialisation in each site and respective broadercatchments.

In 2011, the Marrickville LGA employed more than 27,000 workers. Collectively, the StudyArea (and broader catchments) accommodated about 15% of the LGA’s total jobs.

Compared to the South subregion, Marrickville is highly represented in manufacturingjobs (14.8%) with nearly 25% of those manufacturing jobs located in the Study Area(and broader catchments). Site 3 and its broader catchment in particular, are highlyrepresented in manufacturing jobs.

Compared to the South subregion, Marrickville is also highly represented in wholesaletrade jobs (8.3%) with a high concentration of those jobs located in Site 2 and 3 (andbroader catchments), these areas collectively representing almost a quarter ofMarrickville’s total wholesale trade jobs.

While population-driven industries (e.g. accommodation and food services,professional, scientific and technical services, education and training, health care andsocial assistance) are almost equally represented across Marrickville LGA (6%-9%),Site 1 and its broader catchment notably feature a much higher proportionalrepresentation in these industries (12%-18%).

Figure 6.1 compares the labour specialisation of each opportunity site and surroundingarea.


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Figure 6.1: Employment by Industry, Site 1-3, 2011

Note: Place of Work DataSource: ABS (2012)

Distinct differences in industry profile in each of the Opportunity Sites suggest they (andtheir broader catchments) each play a different role and function in accommodatingMarrickville LGA’s employment.

Site 1There is a relatively large and growing representation across health care and socialassistance, education and training, and professional, scientific and technical servicessectors. Macro trends nationally indicate strong growth across these white collarsectors, thus providing strong growth prospects for additional job creation.

Sites 2 and 3These sites and their broader catchments have labour specialisation acrossmanufacturing and wholesale trade. Even though traditional manufacturing is in declinenationally, food product and beverage manufacturing has been observed to haveincreased in prominence particularly in Site 3.

Site 1

Site 1 is located on New Canterbury Road in an area characterised by mixed businessactivity. The site comprises one of only a few industrial zones in the area (the closestindustrial zone is along New Canterbury Road approaching Petersham to the northeast).

As evidenced by its employment and industry profile, Site 1 and its broader catchment playa local service role to the area, accommodating a high proportion of white collaroccupations, mostly within B2 Local Centre zones.

A growing share of employment in mixed business activity is observed, notably a growthof employment in service industries (e.g. health care and education jobs).

The nature and configuration of Site 1 (small allotments) as well as its location withinan established and populous residential area provide it with an opportunity toaccommodate a range of service businesses that could be located in a business zone.

0% 5% 10% 15% 20% 25% 30% 35% 40%

Other Services












Retail Trade

Wholesale Trade

Construction

Electricity, Gas, Water and Waste Services

Manufacturing

Mining



Site 1 Site 2 Site 3


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Site 2

Site 2 is part of the larger industrial precinct of Carrington Road and is characterised by adiverse range of industrial activity. Although heavier manufacturing activities havegradually transitioned off the site to locations in western and southern suburbs of Sydney,many lighter industrial and mixed business uses have replaced them.

A large proportion of employment is noted to be in industrial-type jobs (e.g. manufacturingand transport, postal and warehousing, and wholesale trade). The strategic location of theSite with access to Princes Highway and M5 Motorway contribute to the overallattractiveness of this location.

There is steady demand for floorspace, particularly for smaller tenancies sub-500sqm. Anew industrial strata complex is reportedly popular with audio businesses, leather and foodmanufacturers.

Notwithstanding, owing to the limited availability of larger industrial sites, there is stronginvestor demand with a recent sale achieving yields sub-6%.

Overall, Site 2 currently accommodates a range of businesses and enjoys good marketacceptance. While a number of buildings are dated and floorspace configuration notideally suited to modern uses, the area’s location to major arterial roads, access andproximity to key markets have underpinned continued growth and viability.

Site 3

Site 3 is located at the southern edge of one of Marrickville’s major industrial precincts.Similar to Site 2, the broader catchment in which Site 3 is located is increasingly beingoccupied by lighter industrial uses amid a diverse mix of business activity.

Employment in Site 3 and the broader catchment is dominated by industrial sectors whichrepresent two thirds of total employment. While manufacturing jobs declined in the LGA,there was a net gain in manufacturing employment in the Site 3 broader catchment withnotable increase in food product manufacturing.

There is generally good demand for floorspace, particularly for tenancies sub-500sqm.Vacancies rates appear to be nominal with the overall area reportedly transitioning wellfrom its heavier industrial past to accommodate a mix of business and industry.

Site 3 straddles two land use zones (B7 Business Park and IN2 Light Industrial), howeverthe nature of occupier and market activity do not appear to be distinct across zones.

Site 3 and its broader catchment play an important role in accommodating a range ofbusinesses, those that produce a range of product and services to satisfy household andbusiness consumption, these businesses requiring strategic locations close to the keypopulation markets.

6.3 Planning for Employment Growth

Employment Growth Amid Population Growth

Various industrial precincts in Marrickville are characterised by different employment andindustry profiles. Due to significant population growth in the area there has beencommensurate increase in those industries that are directly driven by household and localbusiness consumption.

Examples of industries directly driven by population growth are retail trade, education andtraining, accommodation and food services, health care and social assistance. Professionalservices employment, real estate services and arts and recreation services are alsoindustries driven by overall population and business growth. As a consequence,employment growth in these industries has been strong, as has demand for associatedfloorspace. This trend is particularly evidenced in the employment profile of Site 1 and itssurrounds.


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As the population growth trajectory in the Marrickville and the Inner West continues therewill be further employment growth as the growing population underpins demand for localgoods and services.

The Marrickville and Dulwich Hill suburbs provide retail strip shop floorspace mainly foundon Marrickville Road, Illawarra Road and New Canterbury Road. Floorspace is typically of asmaller format that is sought by food specialty retailers as well as services professionalssuch as accountants, real estate agents, doctors and dentists. Service trades includingtool/hardware retail and repairs, with household appliance repairers also located withinbusiness and industrial zones along main arterial roads.

In the case of industrial uses, Sites 2 and 3 are observed to have transitioned fromaccommodating heavier industrial uses in the past to meeting demand from ‘lighter’industrial uses and mixed business.

Demand from creative industries such as the arts, graphic designers, and printers havesought cheaper accommodation in Marrickville as an alternative to Surry Hills andAlexandria. Lighter industrial uses such as food manufacturers (coffee, beer and bakeries.)which require locations close to key markets have sought inner city industrial areas as theirbusinesses respond to population growth. Additionally, as the Inner West continues togrow, people will seek employment close to home, underpinning the need for employmentfloorspace to accommodate future growth in jobs.

The Study Area accommodates a range of businesses that are viably located close tosuppliers, workers and target markets. In order to avoid displacement of viablebusinesses, planning controls and any redevelopment of these employment areas(industrial and business zones) should have regard to future employment floorspacerequirements.

6.4 Future of Employment Lands in the Study Area

Economic Trends and Drivers

Industrial lands play an important role in accommodating a range of industrial and businessactivity. While the foundations of the Study Area are diverse, there are various macro-economic trends that are impacting most industries in Australia. As globalisation continuesto expand, local businesses are faced with ever increasing competition from overseascompanies that often operate in a much lower cost environment. The recently highAustralian dollar has made this competition even more difficult.

While all of these trends will continue to impact and shape the industrial sector in Australia,many local firms adapt and innovate to generate a competitive advantage against overseascompetition. Many of these firms seek to leverage high levels of customer service, highlevels of customisation, high technology and innovation to generate a competitiveadvantage. Additionally, many of these firms trade on a global market.

In response to the changing nature of the Australian industrial sector, it is inevitable thatthe industrial sector in the Study Area will also undergo change. The degree of thesechanges is largely dependent on the ability of local business to innovate, adapt and respondto the changing business environment.

It is likely that future business profile in the Study Area will include a large share of theexisting local service industry, food and retail businesses, in addition to those moreinnovative and specialised manufacturers that have been able to diversify and fill theneeds of ‘niche’ markets with specialised technology and competitive product offering.

In line with broader industrial sector trends there is also likely to be a greaterrequirement for office content to accommodate greater levels of sales and professionalservices (scientific, engineering, other professional services) types of activities.Accordingly, over time the nature of employment activity in the Study Area is likely tosubtly change.


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Viability and Sustainability of Employment Lands

The viability and future sustainability of lands for continued industrial use is underpinnedby their ability to:

Be directly accessed off major arterial roads and highways.

Operate in a conflict-free environment (e.g. unrestricted truck access and appropriatelybuffered from residential uses).

Cluster with other businesses/industry.

Not all successful clusters of industrial lands have all of the above attributes. The mix ofstrong attributes can outweigh one deficiency.

The transition from traditional industrial activity is already observed in the Study Area andbroader catchments. Business activity is mixed and incorporates ‘lighter’ industrial activity.

Flexible planning controls are key to assisting industries and businesses as they continueto transition in a time of structural economic change. An inability to meet business needwill invariably result in high levels of vacancy which undermine viability andsustainability.

Each Study Area component appears to enjoy good market acceptance, vacancy levelsare modest and price and rent levels underpinned by occupier and investor interest alike.

How the Study Area is positioned to accommodate future employment growth can beevaluated by having regard to the following matters:

FunctionalityViable clusters of employment lands are important for future sustainability. This isimportant on multiple fronts - critical mass of lands enabling businesses to cluster whilebenefitting from suitable buffers from residential and sensitive uses.

Clusters of employment lands that benefit from direct access off major arterial roads,improved with built form that meets industry and business requirements and subjectto planning controls that allow them to operate functionally in a conflict-freeenvironment, are more likely to remain viable and better respond to employment needfor additional floorspace.

Overall and nature of market demandMarket demand and appeal is inferred from market activity and market performanceindicators. High vacancy levels, declining rents and sale prices are indicative of poormarket demand.

Market demand is underpinned not only by locational requirements, they are alsosubject to built form and floorspace requirements. Industrial uses will require moreindustrial-type floorspace and are typically best accommodated in an industrial zone toensure minimisation of land use conflicts. That said, many business uses that could beaccommodated in business zones are observed to be taking up residence in manyindustrial precincts, indicating a transition in industry activity.

Ability to accommodate more employmentIndustrial uses do not generally respond well to densities in the same way thatresidential or commercial uses do. That said, small scale light industrial users havemore opportunity for higher intensity development in response to high land values andthe desire to use limited space as efficiently as possible.

Industrial users that rely on significant workforce in research and development (R+D),design and engineering and/or sales benefit from being located under the same roof oron the same site, this consolidation of functions contributing to an intensification ofuse.

Large scale urban renewal or development of brownfield/infill sites are not feasible,unless there is change of use or development of the site is intensified (e.g. increaseemployment activity per square metre of floorspace). Notwithstanding, the ability tocombine a range of uses within a site is key to facilitating accommodating futureemployment growth.


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Implications for the Study Area

Employment growth is observed to be strongest in Site 1 (and broader catchment) thenumber of jobs increasing by almost 15% over the 2006-2011 period. In contrast, Site 2and 3 (and broader catchments) nevertheless still experienced a growth in employmentnumbers, albeit at more moderate rates of 4.6% and 6.8% respectively.

The Study Area’s potential role for future employment growth is considered with regard tofactors earlier identified.

Functionality

o Site 1 is a collection of small industrial allotments within a mostly residential area.Recognising the importance of critical mass and clustering of industrial lands, thissite could be considered fragmented and isolated from other industrial lands.Notwithstanding its location and current configuration, the site neverthelessaccommodates a range of businesses, some of which have a retail function andmany of which could be located within a business zone.

Given the site’s current role in accommodating a variety of business occupiers (asopposed to only industrial occupiers), despite the IN2 Light Industrial zoning, itwould appear to be functioning well as business lands.

o Site 2 incorporates most of the Carrington Road industrial precinct. The broadercatchment accommodated more than 1,100 jobs in 2011, the nature of usesobserved to be transitioning into a variety of light industrial and mixed businessuses.

Given the site’s excellent access to Princes Highway and its part of a larger industrialcluster of lands (zoned IN1 and IN2), its continued role in accommodating futureemployment growth is considered good from a functional perspective.

o Site 3 comprises the southern tip of a much larger industrial precinct and straddlestwo land use zones (B7 and IN2). Notwithstanding its location as part of a largeand viable industrial cluster, its location proximate to residential uses in the westlimits functional operation that could require 24 hour access and by large trucks.

Overall market demand and nature of that demand

o Site 1 appears to be well occupied. Its location along New Canterbury Roadpositions it well for a variety of retail and commercial uses. The broader catchmentof Site 1 is generally sought after, as reflected in the strong employment growth ofnearly 15% over the 2006-2011 period.

Future development of this site should capitalise on its New Canterbury Roadfrontage to accommodate a range of business, consistent with employment activitywitnessed elsewhere along this major thoroughfare.

o Site 2 mostly performs well from a market perspective, with the exception of largerand older style floorspace which can struggle to be filled.

The site’s excellent access to and off the Princes Highway is a major appeal factor,a variety of small light industrial businesses demanding floorspace in the area. Arecently completed industrial strata development (49 Carrington Road) was metwith encouraging market response while a relatively high price was paid for a large2 storey industrial property (25 Carrington Road) by an investor and subsequentlyleased to Lush, a soap and candle distributor.

o Site 3 is characterised by a number of small allotments. A range of light industrialand mixed business uses are accommodated therein, some of the properties areunderstood to accommodate a mix of tenants in a collaborative/communal setting.

As Sydney’s population grows, the desire for industrial and business floorspace ininner city locations increases, reduction in employment lands expected to exert costpressures on tenants.

Industrial locations are increasingly accommodating service businesses and lighterindustrial uses who could equally seek floorspace in locations such as Surry Hillsand Alexandria but for the more costly price of accommodation. Vacancy rates inSite 3 are nominal, thought to be sub-1%.


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Ability to accommodate more employment

o Site 1 is characterised by small lot and ownership patterns. While individualallotments could be refurbished/redeveloped to accommodate greater employmentdensities, this is unlikely to occur under the current IN2 zoning.

Development into a mix of business and residential uses would be align with landuse and development activity observed elsewhere along New Canterbury Road andin the vicinity. Rezoning to a B4 Mixed Use would facilitate the accommodation ofa variety of service-sector businesses (already present) requiring proximity to keymarkets.

o Site 2 is part of a larger industrial cluster that benefits from generally good levelsof market acceptance and demand. Parts of the broader precinct are characterisedby older style floorspace which could require adaptation to meet with contemporaryfloorspace requirements.

Properties that still provide functional value to their occupants and high prevailingsite values make it challenging to feasibly redevelop properties to accommodatemore employment in the future.

Should alternate uses be contemplated, it is crucial that new floorspace is providedto accommodate a range of industrial and business uses, as reflected in the currentemployment profile. There are more than 1,100 jobs accommodated in theCarrington Road precinct, alternate uses should as far as possible not compromisethe operations of current occupiers to precipitate their relocation.

o Site 3 is part of a larger industrial cluster which is one of Marrickville’s majorindustrial precincts. The overall industrial precinct (of which Site 3 is a part) isviable, well occupied and sought after. That said, the location of Site 3 abuts anexisting residential area and is characterised by small lot and ownership patterns.

Despite their scale, many small allotments within Site 3 are understood to beoccupied by creative and professional uses in a collaborative/communal setting,allowing these occupiers to operate cost effectively.

Should alternate uses be contemplated, the area of Site 3 (and southwest ofMarrickville Road) could potentially accommodate a mix of business uses, includingprofessional services and other ‘creative industries’ requiring space close toestablished retail/residential centres.

6.5 Residential Growth and Impact on Employment Objectives

Demand for residential development is strong in Marrickville LGA and indeed across theInner West, reflective of wider macro-economic conditions.

Land is a scarce resource. In established centres close to public transport options and thosethat are close to retail/commercial facilities and lifestyle options, as existing buildings nearthe end of their economic useful life it is no surprise these lands come under pressure fromvarious land uses.

Significant and Viable Industrial Clusters

Viable clusters of employment/business lands are found across Sydney and accommodatea range of industrial occupiers, large format (bulky goods) retailers, speciality retailfacilities and commercial occupiers in various employment settings.

As intimated in section 6.4, the viability and sustainable of industrial lands is predicated ontheir ability to cluster, be directly accessed off major arterial roads and operate in a conflict-free environment. Accordingly, pertinent considerations as to the appropriateness of arezoning proposal include:

If the site is near or within direct access to key economic infrastructure,

How it contributes to a significant industry cluster, and

How the proposed rezoning would impact on industrial land stocks and employmentobjectives in each subregion.


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The role of planning controls to preserve the ‘integrity’ of viable industrial/ employmentclusters is critical to prevent their erosion by competing land uses. The displacement ofexisting businesses that are viable and contribute to employment and economic activitycarries an economic cost. In the extreme situation, if employment and business lands werepermitted for unbridled conversions to accommodate residential uses the viability of largeemployment clusters would conceivably be undermined and the health of the local economycompromised.

The Marrickville 2014 ELS identifies Sites 2 and 3 for potential redevelopment intoresidential uses in the long term, subject to rezoning not compromising existing industrialactivity and not risk the ability of the LGA to meet designated employment targets.

Sites 2 and 3 are part of larger employment clusters and any rezoning proposals shouldhave appropriate regard for the importance of ensuring the viability of existing businessand industry activity is not compromised.

In contrast, Site 1 is an isolated industrial cluster that is part of a broader catchment thataccommodates a high proportion of service industries. Current employment activity andthe site’s location adjacent to established residential, retail and commercial uses positionsit as an appropriate candidate for rezoning to a business zone. That said, new planningcontrols should have regard to strong market demand for employment floorspace in thearea and make according provision.

Marrickville’s Employment Objectives

Residential growth creates demand for goods and services, leading to demand foremployment activity and consequent demand for employment floorspace.

It is therefore necessary to balance between accommodating residential and employmentgrowth as both contribute to overall economic growth and prosperity.

Employment floorspace that responds to population growth and demand for product andservices and are customer-facing has better ability to co-locate with residential uses. Forexample, professional services (e.g. accountants, real estate agencies, tax agents), cafésand restaurants, printer and home appliance repairs, etc. are able to incorporated intobusiness zones and co-located within residential uses. In contrast, employment floorspacethat responds to overall economic activity (e.g. food product manufacturing anddistribution, construction companies and transport engineering services, etc.) requirefloorspace that is separate from residential areas. Many of these uses are observed to beaccommodated in Sites 2 and 3 and broader catchments.

The employment profiles of Study Area and broader catchments collectively account forabout 15% of the Marrickville LGA’s total employment. Each component of the Study Areagrew in employment over the 2006-2011 period, the Study’s property market assessmentaffirming market acceptance of employment floorspace within the Study Area.

A transition of Marrickville’s traditional industrial employment has resulted in anintensification of uses within existing built form as well as ‘lighter’ industrial and mixedbusiness uses. While still having regard to the requisite factors for viable and sustainableemployment precincts, planning controls should nevertheless be cognisant of thesechanges and allow built form and floorspace to respond to market demand.


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Part B – Bankstown CBD

7. Bankstown CBD Context7.1 Introduction

As Australia’s largest public transport project, the new Sydney Metro will deliver moretrains and faster services across the network. The Sydney Metro will be delivered in twoparts - Sydney Metro Northwest (formerly the North West Rail Link) which is already underconstruction, and Sydney Metro City & Southwest.

Figure 7.1: Sydney Metro Project Snapshot

Source: Transport for NSW (2015)

Sydney Metro Northwest (formerly the North West Rail Link)The first component of the Sydney Metro is well progressed in construction, thecompleted line to deliver frequent services between Chatswood and Rouse Hill.

Sydney Metro City & SouthwestThere are three proposed core components to this part of the Sydney Metro:

o Northern CorridorA 3km new metro railway between Chatswood and St Leonards stations mostlywithin the existing rail corridor.

o Sydney Harbour Metro CrossingTwin tunnels from St Leonards/Crows Nest area to Victoria Cross, beneath SydneyHarbour, and to new stations in Sydney CBD and then Sydenham.

o South west extension to BankstownProposed upgrade and conversion of existing 13.5km railway from Sydenhamstation to Bankstown station to a metro railway line.

Stations along the existing Bankstown line are proposed to be upgraded to includesafety screen doors on platforms and all stations will be fully accessible.


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Figure 7.2 outlines the proposed Sydney Metro City & Southwest component of the SydneyMetro.

Figure 7.2: Proposed Sydney Metro City & Southwest

Source: Transport for NSW (2015)

The proposed south west extension to Bankstown envisages Bankstown station as a majorinterchange point between Sydney Metro City & Southwest and Sydney trains as well as akey interchange with local and regional bus services. The ultimate outcome of thiscomponent of the project would be a much improved gateway to Bankstown.

Against the backdrop of finalisation of the alignment and route of Sydney Metro which couldresult in a significant lift to Bankstown’s profile, this Study seeks to understand the futurepotential of Bankstown CBD to accommodate future employment growth.

7.2 Locational Context

The Bankstown CBD is located approximately 20 kilometres southwest of the Sydney CBD.It is a strategic centre serviced by public transport which includes bus and train services.The CBD is a retail and commercial centre for the Bankstown LGA.

The Bankstown Development Control Plan (2015) envisages the Bankstown CBD as threedistinctive precincts - Northern CBD Core, Southern CBD Core and Bankstown Plazaprecincts (Bankstown City Council, 2015a). These precincts have functional and physicalcharateristics which are reflective of their B4 Mixed Use Zoning under the Bankstown LocalEnvironmental Plan (2015).

Figure 7.3 is an extract from the DCP which denotes three precincts within the BankstownCBD. This is referred to as ‘the Study Area’ for the purposes of Part B of this Study.


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Figure 7.3: Bankstown CBD Precincts

Source: BCC (2015a)

The Northern CBD Core precinct is located to the north of the rail line and is categorisedby taller buildings and greater densities which create a central CBD, the location of thisprecinct enforces this role and function as the core of the CBD.

The Bankstown City Plaza Precinct was the first precinct developed in the CBD and is locatedaround the railway and bus interchange. The precinct is characterised by two storey retailshopfronts in small lot patterns. The precinct enjoys high levels of retail and pedestrianactivity.

The Southern CBD Core is located immediately south of the rail line. The built form ischaracterised by mixed use developments with commercial and retail uses and residentialunits above. There are also some cultural and entertainment facilities in the precincts suchas Bankstown Sports Club, Regional Arts Centre and schools. The role of the precinct isenvisaged in the DCP to provide retail and commercial activities on the ground and firstfloors with high density housing above.

7.3 Strategic and Local Planning Context

A Plan for Growing Sydney

A Plan for Growing Sydney (DPE, 2014b) identifies the Bankstown LGA as contained withinthe West Central subregion (which comprises the LGAs of Bankstown, Auburn, Blacktown,Holroyd, Parramata and The Hills Shire).

The West Central subregion is expected to undergo intensive growth over the next 20 yearsas the subregion is a key focus for infrastructure investment. With major focus on GreaterParramatta as Sydney’s second CBD the subregion will undergo significant transition asstrategic centres across the subregion are earmarked for future development and growth.

The Bankstown CBD is identified as a strategic centre in the West Central Subregion andis the primary centre in the Bankstown LGA.

The key priorities identified for the West Central which implicate the Bankstown CBD are:

Leverage investment and economic development opportunities for the whole subregiongenerated by growth of Greater Parramatta and the Global Economic CorridorExtension.

Recognise and strengthen the subregion’s role in Sydney’s manufacturing industries,particularly in Bankstown.


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Work with councils to identify and protect strategically import industrial zoned land anddevelop strategies to support the ongoing development of the Western SydneyEmployment Area.

Work with councils to identify suitable locations for housing and employment growthcoordinated with infrastructure delivery (urban renewal), including around PriorityPrecincts, established and new centres, and along key public transport corridorsincluding the North West Rail Link, the Western Line, the Cumberland Line, theCarlingford Line, the Bankstown Line, Sydney Rapid Transit and bus T-Ways.

Work with councils to identify opportunities to revitalise suburbs and reduceconcentrations of disadvantage

Priorities for individual Strategic Centres in the West Central Subregion have beenidentified, including those that implicate Bankstown strategic centre:

Work with council to provide capacity for additional mixed-use development inBankstown including offices, retail, services and housing.

Investigate potential future employment and housing opportunities associated withSydney Rapid Transit connecting Bankstown to Sydney CBD.

Bankstown Local Environmental Plan (2015)

The Bankstown Local Environmental Plan 2015 (the LEP) is the principal document whichprovides direction for change and growth and encourages sustainable economic growth anddevelopment in Bankstown LGA.

The Bankstown CBD is zoned B4 Mixed Use and the objectives of this zone include:

To provide a mixture of compatible land uses.

To integrate suitable business, office, residential, retail and other development inaccessible locations as to maximise public transport patronage and encourage walkingand cycling.

To maintain the role of Bankstown CBD as a major metropolitan centre.

Types of development permitted with consent are: boarding houses, building identificationsigns, business identification signs, child care centres, commercial premises, communityfacilities, educational establishments, entertainment facilities, function centres, hotel ormotel accommodation, information and education facilities, medical centres, passengertransport facilities, recreation facilities (indoor), registered clubs, residential flat buildings,respite day care centres, restricted premises, roads, seniors housing, shop top housing.

Maximum density and height controls as contained in the LEP and as applicable to theStudy Area include:

FSR 2:1 to 4.5:1

Heights from 17m to 53m

Bankstown Development Control Plan (2015)

The Bankstown Development Control Plan 2015 (DCP) contains objectives and controls toenhance the function, appearance and amenity of development in the Bankstown LGA.

In addition to development objectives and controls the DCP also outlines principles of theBankstown Local Area Plan which was adopted by Council in 2011 to enforce a vision andoutline ways in which residential and employment growth could be accommodated. It isprojected that by 2031 Bankstown CBD will grow by 3,800 dwellings and 4,000 new jobs.


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8. Employment Profile8.1 Bankstown CBD

In order to better understand the nature of employment and business activity in BankstownCBD, Australian Bureau of Statistics data (ABS, 2012) and Bureau of Transport Statisticsdata (BTS, 2014) were used.

The ABS Statistical boundary does not align exactly with the Study Area, accordingly thedata collected relates to a broader area and considers a slightly larger employmentcatchment.

This is nevertheless useful in understanding the Bankstown CBD’s overall employmentstructure and role in the broader Bankstown LGA.

Figure 8.1 indicates the statistical analysis area as per ABS and BTS datasets (this area isreferred to as the ‘Bankstown Statistical Area’, contrasted with the Study Area which waspreviously defined in section 7.2. For the purposes of this Study, the Bankstown StatisticalArea is assumed to be a proxy for understanding the employment profile of the Study Area.

Figure 8.1: Indicative Map of Bankstown Statistical Area


In 2011, Bankstown Statistical Area employed 8,481 workers, increasing from 8,127workers in 2006, representing an increase of 4.3% over the 2006-2011 period.

Key industries in 2011 comprised the retail trade sectors (19.0%), health care and socialassistance (16.3%) and public administration and safety (14.9%).

Bankstown occupational profile is highly represented by professionals (21.6%), clerical andadministrative workers (18.4%) and sales workers (17.9%). This is not surprising giventhe significance of the above service sector industries.


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Table 8.1. Bankstown Statistical Area Employment Profile Overview

Indicator Bankstown Town Centre

Total Employment2011 8,481

2006 8,127




Largest Employer (%) Retail Trade (19.0%)

Second Largest Employer (%) Health Care and Social Assistance (16.3%)

Key Occupations (2011, % of Total Employment)Predominant Occupation (%) Professionals (21.6%)

Second Predominant Occupation (%) Clerical and Administrative Workers (18.4%)Source: ABS (2007), ABS (2012)



The retail trade sector is the largest employer, employing 19.0% of workers (approximately1,600 employees). Contributors to this employment industry are Centro Bankstownshopping centre as well as a wide range of retail and retail specialty shops and serviceswhich collectively serve a broader regional catchment.

Health care and social assistance is the second largest employer, with approximately 1,400workers in 2011 (16.3% of employees). Bankstown Hospital is a major contributor to thisemployment industry as well as general and specialist medical and social assistancefacilities located in the Statistical Area.

Public administration and safety is the third largest employer, comprising 14.9% of workersand employing approximately 1,250 workers as a result of a number of local and StateGovernment offices and departments located in Bankstown.

Figure 8.2: Employment by Industry, Bankstown Statistical Area, 2001 and 2006


0.0% 5.0% 10.0% 15.0% 20.0% 25.0%


Wholesale Trade

Construction


Manufacturing



Other Services









Retail Trade


2011

2006


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Bankstown employed 350 additional workers in the 2006 to 2011 period, representing amodest increase of 4.3% over the five-year period. Key highlights of this growth include:

Modest proportional decline in retail trade sector (declining from 21.1% of employmentin 2006 to 19.0% in 2011), with a contraction of some 98 jobs.

Proportional growth in employment was observed to be in health care and socialassistance (15.3% of employment in 2006 increasing to 16.3% in 2011) and publicadministration and safety (14.5% in 2006 and 14.9% in 2011). This growth yielded thelargest growth in employment, further consolidating their position in the area.

Accommodation and food services increased its employment share from 9.5% in 2006to 10.5% in 2011, adding more than 100 jobs across the same period. Other key growthsectors include education and training and professional, scientific and technicalservices.

Further disaggregation of the retail industry (Table 8.2) shows that the retail industrycontracted slightly between 2006 and 2011 periods, with losses in food retailing and otherstore-based retailing sub-sectors.

Table 8.2. Employment by Industry, Bankstown CBD, 2006-2011 (Retail 2-digit ANZSIC)

Industry 2006 2011 Change, 2011-2006

Motor Vehicle and Motor Vehicle Parts Retailing 0 0.0% 0 0.0% 0 0.0%

Fuel Retailing 3 0.0% 3 0.0% 0 0.0%

Food Retailing 518 6.4% 477 5.6% -41 -7.9%

Other Store-Based Retailing 1,191 14.7% 1,132 13.3% -59 -30.8%

Non-Store Retailing and Retail Commission-Based Buying and/or Selling

1 0.0% 4 0.0% 3 300%

Retail 1,713 100.0% 1,615 100.0% -98 -5.7%Source: ABS (2012)


More than one third of workers in the Bankstown Statistical Area live in Bankstown LGA,with 7.3% of workers residing in Liverpool LGA and 5.9% in Fairfield LGA.

As such, combined, approximately 50% of workers have relatively short commutes, thoughthe remainder 50% of workers have comparatively longer commuting patterns.

The majority of workers rely on private vehicle transport to get to work, representingapproximately 65% of all methods of transport to work.

Table 8.3. Worker Movement to Bankstown Statistical Area, 2011

LGA Employed Persons (No.) % of TotalBankstown 3,279 38.0%Canterbury 639 7.4%Liverpool 628 7.3%Fairfield 509 5.9%Sutherland Shire 489 5.7%Other 3,087 35.8%Total 8,631 100.0%




The employment structure is typical of a service centre catering to the local population,in terms of retail, restaurants, cafés, public administration as well as a hospital.

Modest employment growth occurred over the 2006-2011 period, total employment inthe Bankstown Statistical Area increasing by 4.3%.


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Growth in industries such as health care and social assistance, public administrationand safety, and accommodation and food services indicate a consolidation ofBankstown’s role as a regional service centre.

While the Bankstown CBD employs around 50% of workers from the LGA andneighbouring Liverpool and Fairfield, its employment impact for the region is equallylarge, demonstrating the regional importance of Bankstown CBD in terms ofemployment.

8.2 Comparison against other Centres

In order to understand the nature of future potential employment growth in BankstownCBD, Liverpool CBD and Parramatta CBD were chosen for comparison. These centres werechosen as they are each significant to the South West subregion and West Centralsubregion respectively, albeit greater significance in scale compared to Bankstown CBD.

To understand the comparative and competitive context of Bankstown CBD within WesternSydney, a comparison of employment profiles in Liverpool and Parramatta CBDs wasundertaken. Any future potential role Bankstown CBD could play in accommodating greateremployment could arguably position it (Bankstown CBD) to be on comparable footing andcompete with rival CBDs.

The ABS Statistical boundaries does not align exactly with the comparison CBDs,accordingly the data collected relates to a broader area and considers a slightly largeremployment catchment than just in the CBD.

This is nevertheless useful in understanding the select CBDs’ overall employmentstructure.

Figure 8.3 and Figure 8.4 outlines the statistical areas used to profile the employmentstructure of the Liverpool and Parramatta CBDs.

Figure 8.3: Indicative Map of Liverpool CBD Statistical Area



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Figure 8.4: Indicative Map of Parramatta CBD Statistical Area


8.2.1 Land Use and Zoning Controls

Relevant land use, zoning and density controls for Bankstown and comparison centres ofLiverpool and Parramatta are summarised in

Table 8.4. Summary of Planning ControlsCentre Land Use Zone FSRBankstown CBD (Study Area) B4 Mixed Use 2:1, 3:1, 4.5:1

Liverpool CBD B3 Commercial CoreB4 Mixed Use

2.5:1, 3:1, 4:1, 5:12.5:1

Parramatta CBD B3 Commercial CoreB4 Mixed Use

2:1, 6:1, 10:11.5:1, 2:1, 3:1, 3.5:1, 4:1, 4.2:1, 6:1, 6.4:1, 7.2:1, 8:1

Source: Bankstown LEP (2015), Liverpool LEP (2008), Parramatta City Centre LEP (2007)

The key difference between planning controls in Bankstown CBD compared to Liverpooland Parramatta is the absence of a B3 Commercial Core zone in Bankstown CBD.Consequently, mixed use developments (including residential uses) are permitted inBankstown whereas the comparison CBDs of Liverpool and Parramatta are eachcharacterised by a commercial core, with mixed use developments (incorporatingresidential uses) confined to the fringes of the CBDs.


Bankstown is the smallest centre in terms of employment (approximately 8,450 employeesin 2011), behind Parramatta CBD (41,900 employees) and Liverpool CBD (15,000employees).

Over the 2006-2011 period, Bankstown’s employment growth was modest (4.3%)compared to Liverpool (13.7%) and Parramatta (17.4%) over the same period.


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Liverpool CBD

Bankstown has a relatively similar industry mix to Liverpool, with retail trade, health careand social assistance and public administration and safety top three key industryemployers.

However, the relative concentration of the top three sectors is more prominent acrossLiverpool CBD (58.8% combined), compared to Bankstown (50.2%), primarily as a resultof the Liverpool Hospital and significant number of those employed in health care and socialassistance in Liverpool CBD (37.0% in 2011), compared to Bankstown (16.3%).

Notwithstanding, Bankstown has a larger industry concentration of employees across retailtrade and public administration and safety sectors.

Parramatta CBD

While Bankstown shares some industry strengths with Parramatta CBD, the two centreshave generally a different industry mix. Both centres have a large representation of publicadministration and safety, being the largest industry in Parramatta CBD (28.1%), thoughthird largest industry in Bankstown (14.9%).

In particular, a significantly larger proportion of employees work in financial and insuranceservices in Parramatta CBD (20.4%) compared to Bankstown (6.0%). Parramatta is adistinct office destination and established office market.

Figure 8.5: Employment by Industry, Bankstown CBD, Liverpool CBD and Parramatta CBD


Trends indicate that both Liverpool CBD and Parramatta CBD further consolidated their keyindustries across the 2006 to 2011 period:

Proportion of workers employed in health care and social assistance increased from35.4% to 37.0% in Liverpool CBD.

Proportion of workers employed in public administration and safety increased from24.1% to 28.1% in Parramatta CBD.

Employment across retail trade declined for both CBDs.

0% 5% 10% 15% 20% 25% 30% 35% 40%


Mining


Wholesale Trade

Construction


Manufacturing



Other Services









Retail Trade


Bankstown Town Centre

Liverpool CBD

Parramatta CBD


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8.2.3 Employment by Occupation

Professionals (21.6%), clerical and administrative workers (18.4%) and sales workers(17.9%) comprise the majority of occupations in Bankstown, in line with its industry mixwhich is dominated by white collar industry sectors. Blue collar workers (technicians andtrades workers, machinery operators and drivers, and labourers) comprise less than onefifth (18.5%) of Bankstown CBD’s employment.

Similar broad industry trends are observed in Bankstown, Liverpool and Parramatta, e.g.contraction of retail sector jobs (and consequent decline in proportions of sales workers)and increase in community and personal service workers and professionals.

Liverpool CBD

As Bankstown has a relatively similar employment mix to Liverpool, they have similaroccupation profiles with professionals, clerical and administrative workers and salesworkers the key occupations.

Liverpool comprises a significantly higher proportion of professionals (33.1% compared to21.6% in Bankstown) and a significantly lower number of sales workers (11.7% comparedto 17.9% in Bankstown). This is consistent with the comparatively larger presence of healthcare and social assistance workers in Liverpool and lower representation in the retail tradesector compared to Bankstown.

Parramatta CBD

Similar to Liverpool and Bankstown, professionals (25.2%) and clerical and administrativeworkers (35.4%) in Parramatta CBD represent the two largest occupations.

The proportion of clerical and administrative workers is significantly higher in Parramatta(35.4%) compared to Liverpool (19.7%) and Bankstown (18.4%), consistent with the largerepresentation of public administration and safety employees which is the larger industrysector employer in Parramatta.

8.3 Bankstown as a Strategic Centre

Liverpool and Parramatta both grew substantially more than Bankstown (4.4%), at 13.7%and 17.4% respectively over the 2006-2011 period. It is important for Bankstown to notonly retain but grow employment to ensure economic prosperity as a designated strategiccentre.

Bankstown’s industry mix provides good growth prospects for future job creation inBankstown, with industries such as health care and social assistance, education andtraining and professional, scientific and technical services forecast to grow significantly inAustralia over the medium to long term. In particular, the ability to attract and retain askilled labour force is crucial in promoting investment and attracting additional suchbusinesses.

However, Bankstown comprises a large retail trade sector, which has declined inemployment, in line with broader structural trends across the Australian retail industry.

Given such trends, it is important to provide training and upskilling opportunities for thelocal labour force to enable a smooth transition to growth industries, and, in addition, theremay be potential implications for finding adequately skilled local labour to fill vacanciesacross selected industries and sectors that are experiencing or are forecast to growconsiderably.

A crucial component to facilitating employment growth is ensuring that business’ floorspaceand accommodation requirements can be met. The availability of suitable and competitivelypriced floorspace is critical for both existing businesses and new businesses seeking toenter the Bankstown CBD market.

The property market plays an important role in accommodating businesses and theirfloorspace needs. Market signals are instructive on patterns of supply and demand in theproperty market.

The next chapter examines the property market in the Bankstown CBD, in particular thenature and level of demand for employment floorspace.


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9. Property Market Assessment9.1 General Market Conditions

The Bankstown CBD benefits from strong access owing to public transportation links andproximity to major arterial roads. Road and rail connections to the Sydney CBD are strong,these poised to be strengthened by the proposed Sydney Metro infrastructure project, inparticular the South west extension to Bankstown as part of the Sydney Metro City &Southwest component of the Sydney Metro.

Market activity in the Bankstown CBD has in recent years been characterised by strongdemand in favour of mixed use and residential development rather than any other landuse. This trend is not unique to Bankstown but is observed across Sydney.

The market for residential has primarily been underpinned by strong fundamentalsincluding:

Population growth, including the impact from strong net overseas migration.

Low interest rates.

Relatively low unemployment rates.

Historic undersupply resulting in significant housing shortfall and pent up demand.

These fundamentals ultimately form the core drivers to demand for residential floorspace.It is an undisputed fact that dwelling completions over the last decade have fallen wellbelow the number needed to meet underlying demand. This has resulted in rapidly risinghouse and rental prices as competition is fierce between purchasers and renters alike.

Developers (local and overseas alike) have responded to the call for more housing byassembling sites in a myriad locations. Locations in and around transport nodes are obviouscandidates targeted for site assembly. Additionally, commercial buildings in appropriatelyzoned locations (i.e. B4 Mixed Use) in a variety of CBDs and established centres withexcellent transport connections are increasingly being acquired with a view of mixed useresidential redevelopment (e.g. Parramatta, Chatswood, Burwood, Hurstville, etc.).

The B4 Mixed Use zone in the Bankstown CBD is no exception. Benefiting from strongtransport links, various sites are planned for redevelopment into mixed use residential. Theredevelopment of commercial buildings into mixed use residential has obvious implicationsfor the displacement of existing businesses and pressure on remaining commercialfloorspace.

9.2 Retail/Commercial Market Activity

Retail Market Activity

The retail property market in the Bankstown CBD performs well, with demand driven bydemand for goods and services to satisfy household and business consumpion as well asdemand for lifestyle, retail and entertainment experience.

The Bankstown Central Shopping Centre accommodates major anchor tenants such asKmart, Myer, Target, Woolworths, Supa IGA and over 310 specialty stores. Retail stripshops are characterised by a variety of food outlets and boutique retailers.

Our research identifies that strip retail net rents in Bankstown are in the order of$400/sqm-$520/sqm of lettable area.

Commercial Market Activity

The availability of space in the Bankstown CBD is understood to be low with vacancy ratesin the order of 1.6%, reduced from 4.6% in the 12 months to February 2015. Notably,demand for A Grade commercial space is strong amid limited supply of this grade of space.

Informal discussions with leasing agents active in Bankstown CBD suggest that demandfor commercial floorspace is primarily from businesses in serviced based industries, e.g.accounting, legal, financial and employment services. There are many smaller communityservices organisations servicing government contracts who also seek space in the CBD.


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Investigations reveal strong demand for A Grade commercial space has driven prices upas investors and tenants alike seek quality floorspace in the CBD.

A grade net commercial rents are in the order of $340/sqm-$400/sqm of lettable spacewhilst B and C grade buildings achieve approximately $250/sqm (net) of lettable areaare less sought after.

Sale prices are in the order of $3,500/sqm-$3,900/sqm of lettable area for A Gradebuildings while secondary grade buildings achieve approximately $3,000/sqm oflettable area.

An example of the strong demand for investment grade space with strong covenants is therecent sale of 2 Meredith Street in Bankstown (former ATO building) with circa 13,000sqmof lettable floorspace. The six week marketing campaign is understood to have attractedstrong interest from over 10 parties. The building sold in excess of $50 million (equatingto $3,820/sqm of lettable area).

The building is 98% leased with tenants including Centrelink, NSW Police and Westpac,Commonwealth Bank and St George business centres. Other space in the building isoccupied by various organisations servicing government contracts.

Demand for smaller tenancies sub-200sqm is strong whilst larger spaces are not as soughtafter and typically only attract government tenants and family day care organisations.

9.3 Development Activity

Development activity in the Bankstown CBD is characterised mostly by mixed useresidential developments. A number of prominent commercial buildings have been sold forrepositioning for redevelopment into mixed use residential.

Compass Centre at 85-99 North TerraceThis 6 storey retail/commercial building on an 8,174sqm site was fully tenanted at saleand comprised a retail arcade of 56 specialty shops and six levels of commercialfloorspace.

Marketed as a site for potential high density residential development, this property soldfor $45m to a developer, equating to circa $120,000 per unit/site potential (370potential units).

74-80 Restwell Street, 1-9 St Leonards StreetFringe areas of the Bankstown CBD are observed to be equally active with developers.This vacant site (6,400sqm) recently sold for $11.5m, equating to $125,000 perunit/site potential (145 potential units).

There is a limited amount of commercial development activity observed in the BankstownCBD, all of which are deferred.

280 Chapel RoadThis site has been approved for a new 2 storey commercial building

Bankstown Sports ClubThis site has been approved for a new 10 storey commercial building with theBankstown Sports Club to occupy the ground and first floors

There are a number of mixed use residential developments that propose a limited amountof commercial space in strata office suites on ground and first floors.

The ‘flexibility’ of the B4 Mixed Use zone has attracted investor and developer interestalike, with existing office buildings targeted as medium term development propositionsfollowing the expiry of existing leases.

Informal discussions with local sales agents suggest that the strong influence of residentialdevelopment has displaced commercial occupiers, leaving them to source alternateaccommodation in Liverpool or Parramatta CBDs. Furthermore, there are concerns that thedisplacement of commercial occupiers will leave only local service and retail businesses inthe Bankstown CBD.


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9.4 Market Findings and Future Demand

As the Bankstown CBD comes under pressure from residential uses, Bankstown’s prospectsfor future employment growth are under pressure.

The tension between residential and commercial uses is not new. As Sydney continues togrow, there will be demand for new dwellings as well as new employment floorspace asbusinesses respond to household consumption needs and new residents seek employmentopportunities close to where they live.

Owing to dynamics in the residential market (undersupply and strong unmet demand),non-residential uses are at present comparatively underwhelming as developmentpropositions. This is not unusual as the property market is characterised by cyclicalmovements.

Present market activity suggests continued and future demand in the Bankstown CBD:

Strip retail floorspaceStrip retail space in the Bankstown CBD is well sought after, particularly in the core ofthe centre.

Quality commercial floorspaceA grade space is sought after by investors and tenants alike, a clear distinction inmarket appeal between prime and secondary grade quality of floorspace.

Recent acquisition and development activity suggests commercial tenants (largetenants) are at risk of being displaced. With the stock of quality commercial floorspacealready limited, redevelopment of existing commercial stock further exacerbates thissupply issue.

ResidentialMarkets and centres across Sydney favour new residential development in and aroundtransport nodes, thus putting pressure on existing employment uses.

While Bankstown CBD is overall attractive as a residential destination, development andproperty market trends suggest its significance as a retail/commercial centre will erodeover time resulting not only in the displacement of existing commercial occupiers but alsoexertion of upward price pressure (rents and capital values) on commercial floorspace thatremains.


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10. Facilitating Future Growth10.1 Bankstown CBD Today

Employment Structure

Bankstown CBD is dominated by a large retail sector comprised of Centro Bankstownshopping centre, cafés, restaurants and shops that service local businesses and residents.Centro Bankstown is the largest retail centre in the area. The centre accommodates majorretail tenants including supermarkets and clothing stores as well as entertainment options.

Commercial uses are observed to be limited and confined to playing a supporting role tothe retail uses that service local household demand and need. That said, located withinseveral purpose built office buildings are a number of government/institutional tenants(e.g. Centrelink, NSW Police, business centres of various banking institutions).

The Bankstown CBD is generally dominated by small office buildings offering secondarygrade office floorspace. Notwithstanding, there is keen investor interest observed for primegrade assets with strong covenants, as evidenced by the recent sale of 2 Meredith Street.

The employment structure of Bankstown CBD typifies one of a service centre role,characterised by increasing proportional employment in health care and social assistanceas well as public administration and safety jobs, and localised non-retail services or smallcommercial tenancies.

Employment Growth

In comparison to Liverpool and Parramatta CBDs, the Bankstown CBD recorded modestemployment growth of 4.3% over the 2006-2011 period (equivalent to a net increase of354 jobs). In contrast, Liverpool CBD recorded 13.7% growth (net increase of 1,807 jobs)while Parramatta CBD experienced 17.4% growth (net increase of 6,196 jobs) inemployment over the same period.

Section 8.1.3 identified the importance of the property market in accommodating businessand employment floorspace requirements. Equally important are respective planningcontrols which guide and direct the permissibility of uses and development within an area.

Planning Controls and Development Activity

A notable difference is observed between Bankstown compared to Liverpool and ParramattaCBDs. Liverpool and Parramatta each have a designated commercial core with residentialuses only permitted outside the B3 Commercial Core zone.

The success of the commercial markets in Parramatta reflects its geographical position,access to labour markets, high degree of accessibility by public and private transport(existing or future) and their access to supporting retail facilities.

As a consequence of the delineation of the business core and availability of land for futureexpansion, the CBDs of Liverpool and Parramatta make attractive locations for future officeand retail development. The planning controls effectively prevent an erosion of thecommercial core by other uses, particularly residential.

The permissibility of residential uses in the Bankstown CBD by virtue of the B4 Mixed Usezone has attracted investor and developer interest alike, with existing office buildingstargeted as medium term development propositions following the expiry of existing officeleases.

Informal discussions with local real estate agents suggest the strong influence of residentialdevelopment has displaced many commercial occupiers, leaving these businesses to sourcealternate accommodation in Liverpool or Parramatta CBDs. Furthermore there is concernthat the displacement of commercial occupiers will leave only local service and retailbusinesses in Bankstown CBD.


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The modest growth in Bankstown CBD’s employment (4.3% of 354 jobs) compared toLiverpool (13.7% or 1,807 jobs) and Parramatta (17.4% or 6,196 jobs) is testament tothe ability of these other centres to better accommodate expansion and set-up ofexisting and new businesses alike compared to Bankstown, which is under pressure fromencroaching residential uses.

10.2 Considerations for Bankstown’s Future

The role and function of Bankstown CBD is underpinned by population growth. Thecommercial floorspace offer is predominantly comprised of secondary grade stock,attracting locally based occupiers to service the surrounding population.

These ‘push/pull’ factors influence Bankstown’s potential for future employment growth:

Push factors

o Small commercial sector and lack of premium or large contiguous floorplates.

o Absence of designated commercial core.

o Strong focus on retail uses servicing localised trade area.

o Pressure for redevelopment of sites into residential uses.

Pull factors

o Strong residential catchment.

o Presence of urban support services including Bankstown Hospital.

o Strong residential development pipeline.

Delivery of the Sydney Metro, should the extension to Bankstown be implemented, wouldimprove connectivity with Sydney and the Sydney CBD and thereby lift Bankstown’s overallprofile, conceivably attracting a larger number of business occupiers to the CBD.

As Bankstown increases in attractiveness as a residential destination, it is equally importantfor planning controls to accommodate future demand for employment floorspace. Thereason for this is two-fold: to enable businesses to respond to increase household and localbusiness consumption, but also to provide employment opportunities for new residentsclose to where they live. Failure to do this would put Bankstown at risk of becoming adormitory suburb.

A crucial component to facilitating employment growth is ensuring that business’ floorspaceand accommodation requirements can be met. The availability of suitable and competitivelypriced floorspace is critical for both existing businesses and new businesses seeking toenter the Bankstown CBD market.

Sustainability of Planning Controls

The property market plays an important role in accommodating businesses and theirfloorspace needs. In an environment where the residential property market isoverwhelmingly dominant, it is necessary for planning frameworks to ensure strategicemployment locations are quarantined from residential erosion and preserved for futureemployment growth.

In a market such as today’s, except for a limited number of locations (e.g. Sydney CBD)the feasibility of developing non-residential uses does not come close to the attractivenessof residential uses.

Many commercial centres have designated commercial core zones where residential usesare prohibited, Liverpool and Parramatta CBDs are examples of these. Other centres seekto limit the amount of residential and ensure floorspace primarily caters to employmentdemand with residential floorspace playing a secondary role within the commercial core.

Mechanisms include imposing maximum residential FSR controls or minimum non-residential FSR controls.


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In the business-as-usual scenario, Bankstown CBD would likely continue on its presentgrowth trajectory with residential uses likely to increasingly dominate activity in thecentre. Retail and local service commercial uses are however likely to remain. Areduction in existing commercial floorspace is likely to result in upward pressure on pricelevels.

This Study recommends a planning framework that limits the encroachment ofresidential uses on the Bankstown CBD. This would in the first instance arrest the erosionof existing employment floorspace and preserve opportunities to accommodate futureemployment in the centre.


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Knight Frank (2015). Bankstown Insight, February 2015.

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