Landlords have been given an incentive to take over land-based rental properties in some parts of Australia, a sign of the government’s push to encourage more rural-based housing.
The Land Acquisition Agency (LAA) has approved a proposal by a property developer to build a restaurant at an undeveloped site at the mouth of the Gold Coast, where some of Australia’s most important waterways lie.
The company, Land Ventures, says the project is aimed at opening a new food-and-beverage concept in the city of Newcastle.
“We’re really looking to develop the Gold City as a new regional dining centre,” Land Ventures chief executive David Burdick told the ABC’s RN Breakfast.
“It’s got some great restaurants in it, it’s got a great coffee scene, it has a great waterfront, and there’s a lot of new developments.”
A few hundred people will be given the opportunity to own land-side properties as part of the scheme.
The Government has previously approved a similar scheme for rural-owned land, but it has been plagued by problems, with the Government’s National Rural and Local Government Scheme (NRLGS) being scrapped.
Mr Burdicks said the scheme would be a more streamlined system that was open to all properties, including undevelopments.
“If you are able to take land that you’re not already using, you can actually convert it to a home,” he said.
“You can also convert it into an office, you could convert it for residential purposes, it just depends on what you need to do.”
Topics:housing-industry,business-economics-and/or-finance,industry-and.energy,state-parliament,state,newcastle-2300,north-tas,albany-3305Contact Ben SmithMore stories from New South Wales