Shop Top Living Makes a Comeback Due to New Planning Preferences
IT was a concept last popular a century ago in then-working-class suburbs like Richmond and Fitzroy, but now it looks like shop-top living is making a big return.
Gray Johnson director Matt Hoath, who last week sold five shops energy supplier Origin Energy held for more than 40 years, said residential developers are significantly more prevalent hunting suburban strip retail sites with redevelopment potential.
He cites the Melbourne 2030 planning policy (since replaced by Melbourne @ 5 Million) as the key driver, because it encourages higher density living around retail amenity and transport nodes.
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