Epping – realestatesource https://www.realestatesource.com.au Commercial and residential property news Wed, 17 Mar 2010 18:23:21 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.3 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Epping – realestatesource https://www.realestatesource.com.au 32 32 $300 Million Melbourne Wholesale Fruit, Vegetable and Flower Market Set to Start Construction https://www.realestatesource.com.au/300-million-melbourne-wholesale-fruit-vegetable-and-flower-market-set-to-start-construction/ Wed, 17 Mar 2010 18:23:21 +0000 http://realestatesource.com.au/wordpress/300-million-melbourne-wholesale-fruit-vegetable-and-flower-market-set-to-start-construction.html CONSTRUCTION of the controversial $300 million Melbourne Wholesale Fruit, Vegetable and Flower Market is one step closer to starting, after Bovis Lend Lease anounced it signed the final contract today.

The decision will mean substantial tracts of land in West Melbourne, between the CBD and Footscray, is now, effectively, earmarked for redevelopment.

Below is a statement from Bovis Lend Lease about the project:
]]> Bovis Lend Lease is moving full steam ahead with the new A$300 million Melbourne Wholesale Fruit, Vegetable and Flower Market after signing the final contract for delivery of the design and construction of this vital part of Victoria’s infrastructure today.

The project is one of the most important infrastructure developments underway in the state and continues the strong working partnership between Bovis Lend Lease and the Victorian Government.

Bovis Lend Lease commenced early works late last year for the site establishment phase of the project, and will now commence full blown construction of this vital new facility.

Bovis Lend Lease General Manager – Victoria, Mr Geoff Moore, said: “This is a significant infrastructure project for the people of Victoria and we are pleased to be working with the State Government in its delivery.

“The project will provide a state-of-the-art new facility with improved operational efficiency, a safer work environment and a more sustainable home for Victoria’s fruit, vegetable and flower market community,” Mr Moore said.

The A$300 million development involves the relocation of the existing Melbourne Wholesale Market from Footscray Road in West Melbourne to the new facility at Cooper Street, Epping, in Melbourne’s North. Design and construction is being managed by Major Projects Victoria for the Department of Innovation, Industry and Regional Development.

The new Melbourne Wholesale Fruit, Vegetable and Flower Market is scheduled to be complete in 2012. The purpose-built precinct and facility will incorporate a range of sustainability and safety initiatives to improve the energy and water efficiency and end user
functionality of the market.

Safety initiatives include improved segregation of vehicles, forklifts and pedestrians, while water efficiency initiatives include the ability to store 1.5 million litres of rainwater for re-use on site.

]]> Stockland Pays $58 Million For Two Major Development Sites, Melbourne https://www.realestatesource.com.au/stockland-pays-58-million-for-two-major-development-sites-melbourne/ Sun, 14 Feb 2010 12:41:42 +0000 http://realestatesource.com.au/wordpress/stockland-pays-58-million-for-two-major-development-sites-melbourne.html Stockland chief Matthew QuinnSYDNEY-based developer Stockland has paid about $58 million for two major residential development sites in Melbourne’s outer north.

In the same week the company announced it would focus less on developing apartments, and more on providing low density housing, the group announced two separate land purchases, of 52.4 hectares, and 65 hectares, in Wollert, about 25 kilometres from town.

Stockland is expected to yield 1100 housing lots from the sites, giving it exposure to Melbourne’s burgeoning Epping growth corridor for some years.
]]> Sources say Stockland paid Investa about $26 million for the smaller Wollert block, and about $32 million to interests associated with former developer Wilbow, for the larger 65 hectare parcel.

Elsewhere in the immediate area, Stockland is marketing housing estates at Mernda, Hawkstowe and Highlands.

Last year it was reported the Melbourne-based Evolve Development purchased a 60 hectare site in Wollert, which it is converting into a $300 million village. The first blocks in this development are due to settle from April.

Wollert is mostly farmland wedged between the established suburbs of Craigieburn, Epping and Mernda. It has become much more accessible to town given the opening in late 2005 of the Hume Freeway (previously known as the Craigieburn Bypass), which connects the Metropolitan Ring Road to the Hume Highway, sidestepping the busy industrial hubs of Broadmeadows, Campbellfield and Somerton.

Meanwhile investors may be offered two major inner-city properties, if Stockland makes good on its promise this week to offload apartment development sites which are not performing well, or are in keeping with its new “mixed use” focus.

In Melbourne, Stockland owns a prominent development site at 557 – 565 St Kilda Road, once part of the Royal Victorian Institute for the Blind headquarters – but most recently used as the popular Belgian Beer Cafe’s garden forecourt.

Sources say the prestigious neighbouring Wesley College has eyed the site for some years, but the school didn’t put its hat in the ring, when Vision Australia listed the site for sale two years ago.

Stockland also owns a site in Yarra Street, South Yarra, which it failed to obtain a 35-level permit for, last year. It has since reapplied with council to build a lower 29-level, 353-unit proposal. Stockland paid $26.3 million for this site in 2008.

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