To complement recent financial initiatives to encourage investment in Adelaide, further incentives have been introduced to provide greater opportunities to revitalise existing buildings and enhance the city’s vibrancy:
The Minister’s Specification will potentially save owners and investors hundreds of thousands of dollars in upgrading costs.
Development fees will be waived for eligible buildings in the CBD and a free case management service will be offered to assist eligible owners and investors.
These initiatives will ensure that there are clear and consistent requirements regarding the extent of building upgrade measures for owners and developers as well as reducing development approval times.
The initiatives complement the stamp duty concession, announced in the 2017 State budget, which can provide savings of up to $15 500; and the five year rate rebate period offered by the City of Adelaide announced on 31 May 2017.
Read more about this on the Revitalising Underutilised Buildings page.