Orica lists landmark Melbourne site

Orica is selling the land in stages; the first spreads 67ha at the north west corner of the Western Ring and Tilburn roads.

EXCLUSIVE

Melbourne’s largest vacant Commercial 2 zoned parcel is for sale – as a whole or co-development opportunity.

The 66.96 hectare tract forms less than half of Orica’s Deer Park holding; the neighbouring land will be listed later.

A future stage will include land near a residential zone.

Charter Keck Cramer’s Peter Kirkpatrick, Peter Hutchins, Ivan Lam and Nick Ashton are the transaction advisers.

The suburb is 16 kilometres west of the CBD.

Stage 1, Orica Deer Park

The (66.96ha) Stage 1 site abuts the Western Ring Road at the north west corner of Tilburn.

It is being marketed for its potential to make way for offices, warehouses and an entertainment-based retail complex with restaurants.

A supermarket and residential hotel could also be considered.

Longer term the proposed Outer Ring Rd will provide another transport link to the north (Craigieburn/Epping).

The Melbourne Airport Rail line is also earmarked to stop at Sunshine – the suburb east of Deer Park.

CKC said the Stage 1 block is the city’s only vacant Commercial 2 zoned parcel.

Orica has occupied since 1875 with specialty chemical factories and for storage and quarrying (story continues below).

The property’s main entrance on Tilburn Road.

Orica has been planning a repurpose since 2011

In 2011, Orica sought permission to start rezoning part of its 150ha Deer Park amalgamation to allow for commercial development; it was approved from 2014.

Early last year the explosives provider also commenced remediation works – starting at the holding’s south-west corner.

Stage 1 covers 67ha.

According to CKC, the vendor would entertain a full sale – though this is not necessarily preferred.

A passive or active joint venture, through to arrangements like development participation through provision of management and/or services, are other options.

Stage 2

Stage 2 spreads 68ha, the bulk of which is zoned Industrial.

A small portion abuts John McLeod Reserve, near residential. Another section fronts Ballarat Rd.

Orica will apply to Brimbank City Council for a development plan allowing the balance to be, amongst other things, subdivided.

It will continue remediating.

CKC will market Stage 2 via a separate expressions of interest process.

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Marc Pallisco

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

Marc Pallisco