Simon Corbell has the happy news that the ACT has finally terminated an undeveloped lease:
The Environment and Sustainable Development Directorate (ESDD) has undertaken termination proceedings against the lessee of a residential Crown lease for a block that had remained undeveloped since 2006, Minister for the Environment and Sustainable Development, Simon Corbell, said today.
As a consequence of the action by ESDD to terminate the lease, and the subsequent legal challenge, the land has been cleaned up by the lessee and then surrendered to the bank holding the mortgage.
“The ACT Government has been forced to act because of the prolonged failure of the lessee to develop this land as contained within the Crown lease for over six years. The bank will now sell the land so that it may be developed,” Mr Corbell said.
“This type of sanction is the strongest available to the Territory, and highlights the Government’s commitment to maintaining the integrity of the ACT leasehold system and tackling the long standing problem of land speculation or failure to progress a site development within a reasonable period of time.
“The community is tired of these blocks remaining vacant for years on end and the Government is committed to investigating these complaints and tackling this issue head on,” Mr Corbell said.
The ACT leasehold system requires that all lessees comply with the building and development covenants in their Crown lease.
Typically, development on a residential block must start within 12 months and be completed within 24 months from the date the Crown lease commences.
Simon’s office informs us the land is a residential block in West Belconnen.