Key Takeaways
- Developer Goodman Group withdrew plans for a $1.2bn datacentre in Lane Cove.
- Changes in state and federal government rules are cited as the reason.
- The project, known as 'Project Mars', was withdrawn from the NSW planning portal.
Developer Goodman Group has scrapped plans for a $1.2bn datacentre in Lane Cove, north of Sydney, citing 'emerging' regulations from state and federal governments.
The decision was made on Monday, with the company removing the project from the NSW planning portal.
In a statement, Goodman Group stated that the policy and regulatory environment for large-scale datacentres had 'evolved significantly'.
The project, known as 'Project Mars', was a highly contentious proposal that faced opposition from local residents and environmental groups.
The withdrawal of the project marks a significant shift in the regulatory landscape for datacentres in Australia, with developers now facing more stringent requirements.
Local residents and environmental activists welcomed the news, expressing relief that the project would not proceed.
The decision by Goodman Group highlights the challenges faced by developers in navigating complex regulatory environments, especially in urban areas.
While the exact nature of the new regulations is not specified, they are described as 'emerging', indicating a shift in policy that has caught the industry off guard.
