Jemena lists redundant Broadmeadows site
Having just completed a 9500 square metre office (right) at an edge of its enormous Broadmeadows holding, energy infrastructure giant Jemena is selling the balance.
The redundant 1.38 hectare tract is expected to trade for more than $5 million.
It could attract another commercial user – with a 1500 sqm building on the site described by the marketing agents as highly functional.
Zoned urban renewal however, and therefore able to make way for a residential project, 2/34-36 King William Street is more likely to find favour with a townhouse builder.
CBRE’s David Minty, Nathan Mufale and Alex Brierley have been appointed by NS Group which is representing Jemena.
Broadmeadows’ industrial past is being built away
For generations considered a working class suburb, Broadmeadows, 16 kilometres north of Melbourne, carries a median (three bedroom) house price of $550,000 (story continues below).
It has been classified as an activity centre by both major state governments, for decades.
The pocket where the Jemena site is located, east of Broadmeadows train station, is earmarked for low and medium density residential development.
Next door, Adelaide based Rendition Homes is constructing a master-planned, townhouse focused village, Kingslea, on a 3.3ha parcel it acquired for $11m in 2017 which included an old Hard Yakka factory.
About 300m from these sites is the suburb’s education precinct, with Melbourne Polytechnic, Hume Central College and Broadmeadows Primary School.
Also near the Jemena block, in March, Visy listed a 7.5ha packaging plant with a short term leaseback.
With four street frontages and an outlook over Merlynston Creek, the agents are spruiking that property to residential developers, too.
