Fortitude Valley is the creative heart of Brisbane City, but in recent years it has witnessed many of its thriving small businesses leave or shut up shop entirely due to unsustainable rent hikes.
I’ve spoken to hundreds of residents about the issue and their dissatisfaction with the LNP Council’s response to the issue thus far. The Valley has deteriorated and been neglected by the current Brisbane City Council administration, with people left wondering what council is doing to bring the area back from disrepair.
The Greens want to introduce a vacancy levy on commercial buildings that are left empty for more than 6 months without a good reason.
If investors leave sites vacant, we want to charge them tens of thousands of dollars per year to encourage them to either rent their sites out, redevelop them as housing, or sell them to someone who will actually use them. We would set a vacancy levy at 2000% of the standard council rates for a property.
A vacancy levy would discourage commercial buildings being left empty long-term, which would put downward pressure on residential commercial rents and revitalise the Valley.
Read more about our vacancy levy here, and keep an eye out for our upcoming announcement about how a Greens-led Council would better support our arts community.