A MIRRABOOKA block will remain vacant for a further two years after development stalled on the site.
The Metro North-West Development Assessment Panel granted a two-year extension for planning approval for the Chesterfield Road site, next to Xtreme Ice Arena.
Owner FDL Security received approval to build a four-storey office development and associated car parking in 2015.
According to a submission from the applicant, despite an “extensive marketing campaign” they had not secured the necessary tenants to obtain construction finance, which it blamed on “recent market conditions” and delays.
“This has largely been the result of the long assessment period required to obtain an economically feasible, and market responsive development approval,” it said.
“The lengthy determination period ultimately resulted in those previously interested tenants having to consider and secure alternative options.
“Notwithstanding, the proponent is committed to proceeding with the proposed development.”
Current approval is valid until May 2020.