457 CESSNOCK ROAD GILLIESTON HEIGHTS 2321 Walker Gillieston Heights Pty Ltd Planning Agreement

The parties to the Planning Agreement are the Minister administering the Environmental Planning and Assessment Act 1979 (ABN 20 770 707 468) (the Minister) and Walker Gillieston Heights Pty Limited (ACN 077 152 848) (the Developer).

The land to which the Planning Agreement applies is Lot 1 in DP 1298659 and Lot 3 in DP 71130, being 463 and 527 Cessnock Road, Gillieston Heights. During the negotiation of the Planning Agreement it is noted that Lot 1 in DP 1298659 was consolidated from previously existing Lot 1 in DP 3032745, Lot 2 in DP 302745, Lot 2 in DP 601226, Lot 1 in DP 311179 and Lot 1 DP 601226, previously known as 457, 463, 501 and 507 Cessnock Road, Gillieston Heights respectively.

The Developer is seeking to subdivide the Subject Land into approximately 322 residential lots and carry out associated infrastructure, generally in accordance with DA/2023/551 lodged with Maitland City Council on 3 July 2023 (the Development).

The Planning Agreement provides that the Developer will provide development contributions for the purposes of the provision of designated State public infrastructure within the meaning of clause 6.1 of the Maitland Local Environmental Plan 2011 (the LEP).
The objective of the Planning Agreement is therefore to facilitate the delivery of the Developer’s contributions towards the provision of designated State public infrastructure referred to in clause 6.1 of the LEP. Clause 6.1 of the LEP, despite its repeal, continues to apply to the Development by virtue of clause 4 of the State Environmental Planning Policy Amendment (Housing and Productivity Contributions) 2023.

Under the Planning Agreement, if the Developer was to provide the development contribution as a monetary contribution only, the Developer would pay a contribution of $97,889 per hectare of “Net Developable Area” (as defined in the Planning Agreement) for the Development on the Subject Land (defined as the “Notional Monetary Contribution”).
However, under the Planning Agreement the Developer agrees to dedicate an area of 17,349 square metres of land (Cessnock Road Land) required for widening Cessnock Road (Cessnock Road Land Contribution). The Cessnock Road Land Contribution is to be made within 3 years of the date of commencement of the Planning Agreement.

If the value of the Cessnock Road Land Contribution (as determined according to the Planning Agreement) is less than the Notional Monetary Contribution, the Developer agrees to pay to the Minister the difference between the value of the Cessnock Road Land Contribution and the Notional Monetary Contribution as an additional monetary contribution.
As security for the Developer’s obligations under the Planning Agreement, the Planning Agreement will be registered on the title of the Land and the Developer will provide the Minister with one or more bank guarantee(s), including a bank guarantee of $200,000.

No relevant capital works program by the Minister is associated with the Planning Agreement.