Krueger Site, St Albans, Melbourne, Readying to be Rebuilt as Residential Village

PLANS for a $150 million-plus apartment-based village with towers rising up to eight levels are one step closer, in St Albans, about 18 west of Melbourne.

Following the newly released St Albans Centre Structure Plan 2025, the Brimbank City Council is set to rezone what agents call the lPLANS for a $150 million-plus apartment-based village with towers rising up to eight levels are one step closer, in St Albans, about 18 west of Melbourne. Following the newly released St Albans Centre Structure Plan 2025, the Brimbank City Council is set to rezone what agents call the largest single land holding in the suburb, a move which will pave the way for a residential-based rebuild.

The site, a 6.8 hectare factory with an address of 3 McKechnie Street is currently a collection of seven separate offices, warehouses and factories offering 8427 square metres of building area. A rezoning from Industrial 3 to Residential and Mixed Use allows high density apartment towers to be developed along McKechnie Street, near a Victoria University campus. Near the St Albans train station, the site is also close to the Cairnlea suburb border.

Cairnlea and neighbouring Deer Park have rampantly been redeveloped as housing estates over the past 20 years. The industrial site has now been listed for sale by its owner-occupier, Krueger Transport Equipment. Colliers International selling agent Shane Dargue, who is marketing the property with Glyn Bosisto of Raine and Horne, said the site is being offered with vacant possession, or with a leaseback up to two years. A council rezoning is expected to take between 12 and 24 months. Krueger is expected to reap about $15 million from the St Albans site sale.

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Marc Pallisco

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

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