BANKSTOWN CENTRAL MASTERPLAN

Our masterplan vision is to revitalise the heart of Bankstown’s CBD and transform the existing shopping centre into a vibrant urban neighbourhood to live, work, shop, dine and stay.

With our retail-centre at the core, bringing our vision to life will create a mix of workplace, residential, short term and student accommodation, childcare facilities, and public open spaces to serve the growing needs of Sydney’s south-west for decades to come.

The masterplan takes advantage of Bankstown Central’s connectivity to current and future public transport networks with a new major bus interchange on site, Bankstown train station next door and the future T3 metro station just 100 metres away.

It builds on Bankstown’s future growth as an education and health hub with Western Sydney University’s new vertical campus also just 100 metres away and construction for the new Bankstown Lidcombe Hospital driving an increase in health-related services providers.

With growing consumer preferences for hyper-local living and a desire to live, work, shop, dine and stay closer to home, our masterplan also leverages the proximity to the popular Paul Keating Park and just a stone’s throw away from Bankstown Library and Knowledge Centre. 

To be delivered in stages, the masterplan will provide an estimated additional population of 10,370 residents, visitors, and workers to Bankstown Central and CBD.

In November 2022, we celebrated an exciting milestone in the first steps towards Bankstown Central’s transformation, with the redevelopment and upgrades to the retail centre including:

• A brand new Coles Supermarket
• Opening of The Grand Market, a new fresh food precinct featuring a selection of artisan specialty food retailers while celebrating the centre’s history
• A redesign of the retail precinct including welcoming new retailers Uniqlo, Glue and Services Australia
• Major ambience upgrades including new floors, ceilings, furniture and lighting to improve customer experience
• New travelators and a new customer lift providing better connections to car parking.

In 2021, plans for the first stage of mixed-use development, Bankstown Exchange, received Development Approved by Canterbury Bankstown Council and includes:

• 30,000sqm of new highly energy efficient PCA A-Grade office space across three buildings
• Two, eight storey buildings
• A five storey building with a private rooftop terrace
• Sustainability credentials targeting a 5 Star Green Star, 5 Star NABERS Energy, 4.5 Star NABERS Water rating
• New A-grade End of Trip facilities with 200 bike racks and 240 lockers
• Ground level retail including a new Eat Street with cafes and restaurants
• New basement carpark for approximately 338 cars
• Extensive outdoor public landscaped areas. 

Bankstown Exchange forms part of Vicinity and Challenger Investment Managers' mixed-use development strategy to transform Bankstown Central into a vibrant mixed-use neighbourhood. Construction commencement is subject to a tenant pre-commitment. For further details on this project please visit www.bankstownexchange.com.au

In December 2019, Vicinity lodged a Planning Proposal with Canterbury Bankstown City Council to enable delivery of the Bankstown Central Masterplan. The Planning Proposal seeks to retain the existing mixed-use zoning and site density provisions, albeit with a modest increase, by increasing the allowable height across the site and imposing site-specific setback controls. I

If approved, the Planning Proposal will unlock approximately 300,000sqm of new development floorspace across up to 19 individual buildings and include potential for new retail, residential, commercial office, co-working, short term accommodation, student accommodation, health and education uses. It includes the creation of new community connections and publicly accessible outdoor spaces.

The Planning Proposal is accompanied by a detailed indicative concept masterplan based on the vision for Bankstown Central, a development control plan and an indicative staging plan that allows a staged redevelopment of the shopping centre so that it can continue to function and provide key community services whilst parts of the land are developed and revitalised.

The Concept Masterplan included in the Planning Proposal contemplates:

• Development of approximately 19 towers containing a mixture of uses including new retail, residential, commercial office, co-working, short term accommodation, student accommodation, health and education uses
• Whilst the concept masterplan is indicative at this stage, the current concept includes:
• Approximately 5,000 sqm of new retail and creative spaces
• 10,615 sqm of public open space including a 5,000 sqm City Park, a Garden Boulevard, Urban Plaza and through site links creating increased walkability of the shopping centre and surrounding streets
• Approximately 119,000 sqm of commercial office space
• Approximately 1,255 apartments
• Approximately 439-room hotel(s) & 89 serviced apartments
• Approximately 694 student beds
• 900 sqm childcare centre
• Reconfiguration of the existing shopping centre layout to accommodate additions and upgrades to the retail experience
• Completion of proposed separated cycleway along Rickard Road and Appian Way frontages to the site and upgrades of the footpaths along the frontages of the new buildings around the perimeter of the site
• A high standard of sustainability initiatives implemented throughout
• Extension of Jacobs Street between The Mall and North Terrace into a shared bus and pedestrian street
• Delivery of public art across the site.

The Planning Proposal for primarily increased building height will help realise a range of benefits to the Bankstown CBD and local community. These are as follows:

• Creation of a vibrant mixed-use precinct, including potential for retail, commercial, hotel/
• serviced apartments, residential, health and student accommodation offerings that will complement the location of the Western Sydney University Campus (Bankstown) near the subject site
• Future open space provision on the site will total 10,615sqm including a City Park of approximately 5,000sqm
• Significant improvement in the public domain in the heart of the CBD, including the provision of substantial areas of publicly accessible open spaces
• Provide an estimated additional population of 10,340 residents, visitors and workers each day into the Bankstown Central site, which will drive additional foot traffic and sales, including during quieter mid-week times
• Vicinity’s research estimates this new population will inject $87.3 million additional retail spending which will support our retailers
• The anticipated non-residential floorspace will generate in the order of 6,257 additional jobs to the Bankstown CBD, which would contribute to 37% of the South District Plan’s job starts for Bankstown Strategic Centre to 2036
• The proposal will provide an estimated additional 134 new local businesses onto the site.

The Planning Proposal is seeking a height limit of between 35m – 86m. This equates to buildings ranging in size, between 8 and 26 storeys in height.

The building heights proposed in the concept informing the Planning Proposal are tallest close to the metro station location, and taper to the north and east in a manner consistent with Council’s broader Bankstown CBD Masterplan principles.

The New South Wales Government’s South District Plan 2018 identifies Bankstown CBD as a potential Collaboration Area indicating a transformation of the city centre to accommodate more local, knowledge-intensive jobs. The South District Plan sets a target of between 17,000 and 25,000 jobs in the Bankstown Strategic Centre by 2036.

The proposed Bankstown Central Masterplan could accommodate 6,257 additional jobs, including office, retail, childcare, food and accommodation. This would contribute a substantial 37% of the South District Plan’s job target for Bankstown Strategic Centre to 2036 and will attract new residents to the area and support the evolution of Bankstown CBD as a potential Collaboration Area.

We are currently seeking approval for changes to the existing planning framework including increased height and density across the site. Future development under the new planning framework will be subject to individual Development Applications. Further consultation and approval before construction can commence will take place.

The Planning Proposal received unanimous endorsement by Canterbury Bankstown City Council on the 26 April 2022, followed by Gateway Determination by the NSW Department of Planning & Environment on 28 October 2022.

The Planning Proposal went on public exhibition which closed 8 September 2023.

A second Public Exhibition period for the Draft Voluntary Planning Agreement will commence on 15 November and closes 13 December 2023. To find out more and have your say go to: https://haveyoursay.cbcity.nsw.gov.au/bankstown-central-shopping-centre-planning-proposal

It is anticipated the Planning Proposal may achieve final Gazettal/approval by the State Government in late 2024.

Once approved the Concept Masterplan will be used as a guide to future uses, development and any subdivision of the land on the site of Bankstown Central. Future development under the planning framework will be subject to Development Applications, consultation and approval.

As property owners and operators, Vicinity is committed to be an ongoing part of the Bankstown Central community and has committed to providing the following community benefits in its Planning Agreement:

• Delivery of a 5,000sqm publicly accessible City Park fronting Rickard Rd and including a playground and one-half outdoor sports court
• Providing a $4million contribution to Council to provide a 1,000sqm multi-purpose facility for 2 indoor sports courts within the LGA
• Delivery of 200sqm of Incubator Space fitted out as a warm shell open plan layout, suitable for use as office space and potential to enter a long term lease with Council to operate
• Completion of proposed town centre separated cycleway along Rickard Road and Appian Way frontages to the site in accordance with Complete Streets requirements
• Extension of Jacobs Street between The Mall and North Terrace into a shared bus and pedestrian way to North Terrace by dedicating land with an approximate area of 2,500sqm.
• The Town Centre Precinct will deliver a minimum 50% employment generating floor space and the overall masterplan will generate 40% employment generating floor place including the existing retail centre.

Vicinity has committed to delivering a high standard of sustainability initiatives across the Bankstown Central masterplan including:

• Each precinct will target a minimum 5-star Green Star certification for all new retail and office developments;
• New developments will target minimum NABERS energy and water efficiency ratings including 5.5 Star Energy and 4.5 Star Water ratings for new office development;
• The design of new precincts will integrate features that actively enhance biodiversity;
• A commitment to reduce embodied and operational carbon emissions from building materials through strategies to reduce, re-use and the recycling of materials, resources and building components;
• The masterplan was designed with a strong pedestrian focus in mind. Part of the upgrades to the public realm includes a number of new pedestrian connections that will significantly improve connectivity and walkability within the precinct; and
• Extensive cyclist facilities have been included, acknowledging the modal shift away from the reliance on private motor vehicle usage and encouraging use of Bankstown’s outstanding public transport links.

The Bankstown Central Planning Proposal can provide greater housing variety for the local community with the potential for residential apartments and student housing, which would increase housing availability and choice within the area. Increasing apartment provision diversifies the housing mix in Canterbury-Bankstown and the range of price point options available to residents.

Vicinity seeks to typically provide residential accommodation in a leasehold arrangement, such as Build to Rent, which will further diversify the residential accommodation offer on the site and in the locality.

The Bankstown Central site already supports high development density due to its proximity to public transport options, including the existing heavy rail and new Metro station, access to established services and capacity of the surrounding road network and nearby complementary land uses.

Demand for new, quality residential projects in Sydney's south-west remains strong with the NSW Department of Planning and Environment predicting population growth to rise 1.7% per annum over the next decade, creating demand for an expected 33,000 additional dwellings per year.

The proposal also aligns with The Greater Sydney Commission’s Southwest District Plan, which identifies Bankstown’s town centre as a Strategic Centre to support population growth and the development of a 30-minute city, meaning people can access the nearest metropolitan, strategic or local centre using public transport and/or walking within 30 minutes, ensuring better access to jobs, housing and health care

In collaboration, Vicinity has developed a vision for Bankstown Central that seeks to provide certainty about the long-term redevelopment outcomes for the NSW Government, Canterbury Bankstown City Council and the Local Community. The proposal also aligns with The Greater Sydney Commission’s Southwest District Plan that identifies Bankstown’s town centre as a Strategic Centre to support population growth and the development of a 30-minute city. 

Vicinity’s vision will transform Bankstown’s centre into a vibrant and activated precinct and aligns with the NSW Government’s aspirations for Bankstown as a ‘Health and Education Innovation Precinct’ under its planning framework. It also reflects Council objectives for the future of the town centre and provides direction for a vibrant retail, residential and commercial destination.

The vision will deliver beneficial outcomes for the local community in the form of new connections and open spaces for Bankstown’s CBD. One of the plan’s most significant elements is the creation of more public spaces within the precinct. The plans feature a new 5,000sqm City Park, a landscaped Urban Plaza, and a tree lined Garden Boulevard and site links to create increased walkability of the shopping centre and surrounding streets.

• The proposed development will transform Bankstown’s town centre into an open, vibrant hive of activity connecting the future metro station, public parks, civic centre, new education campuses, retail, services and entertainment at Bankstown Central. Residents of the wider region will gain an improved central community hub to eat, shop, work and play.
• The proposed development will give the current and future local community access to high quality public open spaces through the provision of 10,615sqm of new spaces across the site. This will be accessible to the surrounding retail, services and community uses within the Bankstown CBD, ensuring it meets the needs of not only the on-site workers and residents, but all visitors to the town centre.
• Provide additional government revenue Contributions to state and local infrastructure to be used to fund the provision of parks, local road improvements, town centre improvements, community centres and other services. 

The first stage of the mixed-use masterplan, Bankstown Exchange, has received Development Application approved and could start construction in late 2024.

We anticipate that the further stages, that are reliant on the approval of our Planning proposal, could start construction as early as 2027 with an approximate three decade staged delivery.

The Bankstown Central Planning Proposal has been developed in consultation with Canterbury Bankstown City Council and aligns with Council’s Bankstown CBD Masterplan.

Council’s Bankstown CBD Masterplan identifies six intensification principles informing the built form, density and building height recommendations across the CBD. These intensification principles are supported by Vicinity and have been used to inform the concept masterplan supporting the Planning Proposal, ensuring it is highly consistent with the City Centre Masterplan principles as described below:

• Density within walking distance of the Metro Station (800m)
• Density within close proximity of existing and proposed open spaces
• Building heights under 108RL maximum height (airport constraints)
• Building heights peak at the metro station and transition to lower scale neighbourhoods
• Building height to limit overshadowing on existing and proposed open space
• Maintain existing built form controls in special character and low-density places

The Planning Proposal is providing approximately 10,615sqm of green public open spaces including a 5,000sqm City Park offering a variety of different spaces to support different scales of community gathering and events for a diverse range of ages and groups.

The concept masterplan intends to provide a variety of open spaces including a City Park, a playground, the Garden Boulevard and an Urban Plaza to accommodate the different public events and activities.

The open spaces are linked by the varied pedestrian connections including arcades through the retail buildings, pedestrian paths and shared ways providing improved pedestrian amenity and connectivity.

The Planning Proposal seeks a range of heights across the various precincts within the site. This means that any future height distribution across the site and articulation of individual building elements will be implemented to mitigate overshadowing impacts to the surrounding neighbourhoods and across the individual elements of the site.

A detailed solar analysis was undertaken to determine the environmental impacts of the increased building heights and to further mitigate any potential overshadowing to neighbouring properties, to maximise the sunlight hours for the public domain.

Our Traffic Engineer’s assessment of traffic generation in Bankstown (2020) estimated vehicle trip rates for new workers, residents, students and hotel guests of the proposed development. The analysis found that despite the scale of the proposed development, the increase in vehicle traffic will be minor and acceptable due to a progressive car parking provision and multiple vehicle access points.

The development will make appropriate contributions under Council’s Local Infrastructure Plan that will go towards a series of road and pedestrian improvements to accommodate development in the Bankstown CBD.  

Both the commercial office and residential buildings will include their own car spaces for workers and residents. The precise number of spaces is to be determined and will be considered in the next phase of the design process at Development Application stage for each building.  The minimum and maximum rates for each proposed use are consistent with the rates allocated under Council’s Bankstown CBD Masterplan.

Bringing our masterplan vision to life will deliver significant economic benefits to the local economy, including:

• ~$1.7 billion total investment in construction
• The Planning Proposal supports the State Government’s current direction of increasing density and broadening land uses in proximity to public transport infrastructure
• It will increase employment opportunities from additional commercial and retail floor space supporting approximately 6,257 additional jobs, contributing up to 37% of the South District Plan’s jobs target for Bankstown Strategic Centre
• The new population at the site, including residents, students, hotel visitors and on-site workers has the potential to generate an additional $87.3m retail spend, contributing to improving the performance of existing retailers within the centre as well as supporting new local retail businesses
• There is a strong market demand for apartments, short term accommodation, commercial offices and student beds within Bankstown CBD, as identified in the Urbis Market Depth Assessment submitted with the Planning Proposal.

The proposal will have positive social impacts on the local community and the wider LGA, as follows

• Provision of an additional 10,615 sqm of new public open space, in a number of forms including a single area of approximately 5,000sqm.

The Bankstown Central masterplan provides greater housing choice in a region dominated by detached housing and contributes to improved housing affordability.

Under the Planning Proposal, it is proposed to provide a minimum of 40% employment generating floor space across the Bankstown Central site by committing to delivering uses such as commercial, retail, short term accommodation, health and education. This will provide opportunity for an additional 6,257 jobs in the community. Due to this, affordable housing is not a mandatory requirement of the Planning Proposal, however the provision of affordable accommodation will be explored as residential uses are originated in accordance with the detailed concept masterplan.

Vicinity sees an opportunity to provide key worker accommodation that could help support the delivery of employment generating uses on the site and across the Bankstown CBD including future infrastructure like a new hospital in the municipality, the provision of allied health services and expansion of education uses within the CBD, including Western Sydney University.

The proposed Bankstown Central Masterplan creates a network of pedestrian routes through the precinct, contributing to improved safe access to transport and amenity for Bankstown residents, workers, students and visitors in addition to passive surveillance opportunities from the new buildings.

The proposed mix of uses will accommodate an estimated 10,340 new residents, guests and workers each day, who will spend an estimated $87 million on retail each year upon completion of the proposed development.

This additional spending would contribute to improved performance of existing retail at Bankstown Central and contribute to the overall attractiveness of Bankstown Strategic Centre as a future employment node.

If approved, the Planning Proposal could see the long-term masterplan delivered in multiple stages over the next 20-30 years, to minimise customer disruption, and centre and neighbourhood impacts. Throughout this process we will work closely with the community and our retailers to minimise the impacts.

We are committed to working closely with our retailers who may be impacted during the proposed developments to keep them informed of progress and discuss options and potential opportunities.

We are committed to working closely with our retailers and clients who may be impacted during the proposed developments to keep them informed of progress and discuss options and potential opportunities, where possible.

We will be working with our impacted retailers to explore potential opportunities either within Bankstown Central or the new mixed-use precincts.

The Planning Proposal went on Public Exhibition from Wednesday 26 July 2023 and closed 8 September 2023. A second Public Exhibition period for the Draft Voluntary Planning Agreement will commence on 15 November and closes 13 December 2023. To find out more and have your say go to: https://haveyoursay.cbcity.nsw.gov.au/bankstown-central-shopping-centre-planning-proposal