Inner West Council error costs Newtown developer $800,000
A property owner in Newtown, Sydney, claims he is facing financial ruin due to a planning error by the Inner West Council. Peter Mistrevski purchased a decommissioned 1931 brick electricity substation on Probert Street for $2.1 million at auction in July 2025.
Before the purchase, Mistrevski obtained a planning certificate from the council in March 2025 stating the property was not a heritage item and could be redeveloped under a complying development pathway. However, a second certificate issued by the council in October 2025 identified the building as a heritage-listed item within a conservation area, which prevents the planned redevelopment.
The error has halted development plans and created legal uncertainty. Mistrevski reports that the situation is costing him $12,000 per month in holding fees, and an independent valuation now places the property's value at $1.3 million, representing an $800,000 loss.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The planning uncertainty is costing $12,000 per month in holding fees. www.watoday.com.au · www.smh.com.au · www.brisbanetimes.com.au
- [● 3 SOURCES] The property was purchased at auction for $2.1 million in July 2025. www.watoday.com.au · www.smh.com.au · www.brisbanetimes.com.au
- [● 3 SOURCES] A planning certificate issued in March 2025 stated the Newtown substation was not a heritage item. www.watoday.com.au · www.smh.com.au · www.brisbanetimes.com.au
- [● 3 SOURCES] An independent valuation has placed the property's value at $1.3 million. www.watoday.com.au · www.smh.com.au · www.brisbanetimes.com.au
- [● 3 SOURCES] An error by the Inner West Council has caused significant financial loss. www.watoday.com.au · www.smh.com.au · www.brisbanetimes.com.au
- [● 3 SOURCES] A subsequent planning certificate issued in October 2025 identified the property as a heritage-listed building. www.watoday.com.au · www.smh.com.au · www.brisbanetimes.com.au