Major Riverfront Footscray Site Hits The Market

The private investors that control a disused 9209 square metre block of land at 2 Hopkins Street, on the banks of the Maribyrnong River, have listed it for sale. The listing comes weeks after state government land development agency VicUrban agreed to pay a reported $21 million, on 24-month settlement, for a neighbouring 1.3 hectare site currently occupied by LeMans Toyota.

Both Hopkins Street sites are expected to make way for high density apartment complexes, taking advantages of a recent residential rezoning affecting 15 hectares around Joseph Street – near the new, prominent, 16-metre Heavenly Queen Temple statue.

Only developments from 2 Hopkins Street however, will capture unobstructed views of the Maribyrnong River. The site is expected to fetch about $15 million and VicUrban is considered a prospective purchaser.

CB Richard Ellis agents Scott Orchard and Andrew Dawkins are marketing the river edge property with Premier Commercial’s Jason Perry.

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Marc Pallisco

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

Marc Pallisco

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