It’s the end of the world for Planet X in rent rise

Mt Druitt - St Mary's Standard (East) - - NEWS - Alison Bald­ing

PLANET X at Mt Druitt has closed its doors, with own­ers cit­ing a rent in­crease as the rea­son the tram­po­line cen­tre couldn’t con­tinue to oc­cupy 1 Zoe Place.

The site has been re­cently bought by Ausunion Property In­vest­ment Group, which has plans to build the first 10-storey high-rise build­ing in Mt Druitt.

The pro­posal for Mt Druitt Cen­tral, a de­vel­op­ment which will spread across three tow­ers, was ap­proved by Black­town Coun­cil in Au­gust.

The site will in­clude a mix of 15 com­mer­cial shops and 268 res­i­den­tial units, which are mostly two-bed­room floor­plans. It has meant an early exit for Planet X and its more than 20 ju­nior staff mem­bers.

One of the Planet X own­ers, who did not want to be named, said ne­go­ti­a­tions with the site’s new own­ers ended with the re­quest for about triple the rent they were pay­ing, and left them with two weeks to move out.

But Ausunion Property In­vest­ment Group di­rec­tor Anna Wang said the rent be­ing paid was “very low” com­pared to what neigh­bour­ing busi­nesses pay.

Ms Wang said the fi­nal de­vel­op­ment ap­pli­ca­tion for the pro­posed Mt Druitt Cen­tral should be ap­proved within the next two weeks.

She said the first step next year would be to ob­tain a con­struc­tion cer­tifi­cate be­fore work be­gun.

Planet X own­ers have put the fit­tings into stor­age un­til a new site can be found.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.