Big Year For Docklands, Despite Southern Star Observation Wheel Stalling

As development of Docklands moves to its halfway point, VicUrban says Docklands is on its way from becoming one of the country’s biggest construction projects, to a new and vibrant waterfront community.

This year, a wider part of Docklands has been incorporated into the free “City Circle” tram route, while in the Summer months, a shuttle bus will run between Southern Cross Station and ING Real Estate’s Waterfront City – home to the wheel. The number 86 tram has also been extended along Docklands Drive, to arrive at the Melbourne Central City Studios.

New retail precincts have been established in Harbour Town and Merchant Street – a “High Street” style shopping strip including a Safeway supermarket, and a post office.

About 4,600 new office workers moved to Docklands this year, including staff from AXA, Ericsson, Fujitsu, Infosys, AMP, Lend Lease and Lucrf. A further 800 National Foods staff are moving this month, trading their Albert Park Lake view at 5 Queens Road, for a Victoria Harbour glimpse, at 737 Bourke Street.

VicUrban says there are about 1,600 staff and students now occupying the Carrick Institute of Education, which in March announced it would lease all 7,100 square metres at 370 Docklands Drive. An attempt to sell that building for about $50 million in May, failed.

JLL leasing negotiator Jeremy Quinn says the majority of major office tenants in the market for space, shortlist options in Docklands.

However the news has not all been so positive. In November, it was reported ISPT will delay plans to build its $700 million Bourke Junction mixed use apartment and office project, which was to have been occupied by Members Equity Bank and insurer Suncorp.

Bourke Junction is proposed for a site near Telstra Dome, which will be rebranded Etihad Stadium from next March.

Share or Recommend article

Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

Leave a Reply

Your email address will not be published. Required fields are marked *