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Written by Marc Pallisco
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Tuesday, 15 June 2010 00:08 |
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 THE Victorian Government will offload a prominent asset on the banks of the Yarra River, at the junction the CBD meets Southbank and Docklands.
The Department of Treasury and Finance is managing the campaign to sell the former Melbourne Convention Centre building at the south-west corner of Flinders and Spencer streets and abutting the prominent semi-circle Crowne Promenade Hotel.
The low rise building, once used as Melbourne’s makeshift Crown Casino is expected to be demolished.
Sources expect the site, opposite Batman Park, will make way for a high density village of shops, offices and apartments.
Any redevelopment would offer unique easterly views up the Yarra River and to Federation Square.
The landmark asset is expected to net the government about $30 million as a development site.
A government representative was unavailable for comment when contacted by Capital Gain.
Last week, it was reported another prominent government owned site – the VicRoads office in Denmark Street, Kew – is also earmarked for sale.
In March, the government also listed for sale another prominent Yarra River fronting site, between the Seafarers Mission and Wurundjeri Way.
Like Kew, the former Convention Centre, in the World Trade Centre precinct, is expected to be redeveloped into a village of shops, offices and apartments.
Related articles:
ALP Considers Selling Prominent VicRoads Headquarters, Kew
Victorian State Government Offloads More Inner-City Property
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