2018/9539 - Victoria Road Precinct, Marrickville

The Planning Agreement provides that the Developer will make a monetary contribution of $2,100,000 for land required for regional open space.

The Planning Agreement also requires the Developer to:
• undertake road works – being the creation of a left-turn slip lane from Sydenham Road (west) to Victoria Road (north) and a 90m right-turn bay along Victoria Road (north) at Marrickville; and
• dedicate a portion of the Subject Land plus other parcels of land required for the road works to the Minister or the Minister’s nominee.
Under the Planning Agreement, the Developer must satisfy its development contribution obligations in stages, which include:
(i) $700,000 payable on execution;
(ii) $700,000 payable on the date that is 20 business days after the issue of an occupation certificate in respect of the 300th Final Lot (as defined in the Planning Agreement)
(iii) $700,000 payable on the date that is 20 business days after the issue of an occupation certificate in respect of the 450th Final Lot; and
(iv) completion of the road works and dedication of the land prior to the issue of an occupation certificate in respect of the 300th Final Lot.