CBD building height revision gives developer hope for apartments

Real Estate agent, Peter Mylonas, says Goulburn Mulwaree Council's proposal to increase building heights from eight metres to between 15 metres and 33m will add vibrancy to the CBD but it was also important to strike a balance with heritage.

Mr Mylonas has owned a 4190 square metre block on the corner of southeast corner of Clinton and Bourke Streets since 2020. He wanted to develop an apartment block with retail underneath on the former Caltex service station site but last year said he was frustrated the council still hadn't reviewed building heights, as promised. He placed the block on the market.

But council planners are now proposing a CBD revitalisation plan, including new building heights, as part of a wider planning proposal to be put to the state government.

Mr Mylonas says the move is giving him hope for the future and he'll likely remove the block from sale.

Under the proposed changes, he could lift the height from 10 metres to 15m in the mixed use zone. It could mean an increase from 41 apartments to about 70 across six floors, with shops underneath.

"It's (the revision) is a great step forward and will bring vibrancy to the CBD, which is badly needed," he said.

"But they'll need to get the balance right between the old and so they don't destroy shops in the main street. (It) needs to complement and add value to the CBD."

Mr Mylonas said he would now revise plans for a development application. Careful thought would go into the retail component so it didn't compete with Auburn Street shops.

The real estate agent agreed with planners that there was increasing demand for apartments in and around the CBD. Senior strategic planner, David Kiernan, said the strategy would help housing affordability, provide diversity and "address a mismatch" in occupancy rates.

Mr Mylonas marketed the Marian Apartments in Clinton Street which fetched from $450,000 to $650,000.

"The demand is definitely still there because there's nothing available close to town where you don't need a car to walk to shops, the hospital and railway station," he said.

"You'd think in a town like Goulburn where there's so much rural land around that people wouldn't want apartments. But they do because it works for them."

Mr Mylonas said he'd turned down approaches from Oporto Chicken, Spotlight and a Queensland bulky goods proponent to buy the block.

He has also drawn up plans for the building on the southwest corner of Clinton and Auburn Streets that he owns with three other partners and which houses his real estate office. Under the proposed council changes, this structure could also be lifted to 15m. Mr Mylonas said this could also be developed into apartments, if the partners agreed.

Similarly, a fast food chain had expressed interest in buying the site.

But they're not the only dominant CBD corner sites that could accommodate apartments. Mr Mylonas said while it was unlikely that heritage buildings in the CBD would be demolished, certain land pockets could be developed.

These included the former Caltex service station site on the northeastern corner of Bradley and Auburn Streets and land nearby on the CBD fringes.

"The old Caltex site is a brilliant location and you could have retail underneath," he said.

Mr Mylonas said developer Nicholas Daoud set the precedent for inner city living with the Quest and Marian apartments. While there was "initial opposition" to the project he believed it was the right strategy, as evidenced by continuing strong demand.

While welcoming of the proposed council changes, he questions whether there will be a cost to developers for the body of work and higher development contributions.