Brookfield buys piece of ex-Ford factory
Brookfield has agreed to buy a piece of the former Ford manufacturing plant, in Melbourne’s north Broadmeadows.
The 11 hectare block, 1731-1733 Sydney Road, is set for a 64,000 square metre industrial estate.
The vendor, Time & Place, will remain on as development partner.
The deal comes four years since Brookfield bought a 12.6ha former Orica site at Villawood from MaxCap and Time & Place for $90.1 million.
Time & Place stayed on at that project as development manager.
Ex-Ford site
Led by Tim Price, Time & Place paid Ford a speculated $80m for the 15.9a Broadmeadows block last year (continues below).
The property formed part of the car giant’s manufacturing plant, developed in the late 1950s and at its peak in 1995 employing about 4,000 workers.
It ceased building there 10 years ago next month; the last car was a blue Falcon XR6.
In 2019, Pelligra Group bought a 60ha piece for $82.1m – two years later forming a 50:50 joint venture with Qualitas to develop a commercial mixed-use project, Assembly.
Earlier this year, realestatesource.com.au reported Zerra was buying part of that block for a major data centre.
Subscribe to our newsletter at the bottom of this page.
