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Written by Marc Pallisco
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Wednesday, 14 July 2010 00:38 |
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 AFTER picking up a prominent eastern suburb development site at a particularly depressed time in the property cycle last year, fast food chain McDonalds is readying to play property developer.
McDonalds is looking to replace part of a prominent former Patterson Cheney car dealership at 43 – 57 Maroondah Highway in Ringwood, with a 24-hour restaurant.
It paid about $15 million for the massive 16,380 square metre site, near the Maroondah Highway exit of Eastlink, almost a year ago.
McDonald’s is expected to subdivide and sell-down unused portions of the site to developers who may capitalise on prominent Maroondah Highway frontage by building shops, offices – or other fast food restaurants.
A Maroondah City Council representative said just once objection was received for McDonald’s proposal, and that it expects to make a decision about the project this month.
McDonald’s says the restaurant will include a large play area and outside terrace.
“As a major centre that is undergoing significant development and investment, Ringwood will be an increasingly vibrant centre and an ideal location for a new McDonalds restaurant,” McDonald’s corporate communications manager Amy McNaughton told Capital Gain.
She added the store would employ about 80 individuals across all levels of experience.
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