VicRoads lists prominent Craigieburn site

VicRoads has listed a 31.3 hectare mixed-use development site at what is presently Melbourne’s northern outskirts, but will soon be considered a middle-ring suburb.

The Craigieburn block, 650-700 Hume Highway, spreads across two sides of the recently opened Hume Freeway, which connects commuters to the Western Ring Road in one direction or the Metropolitan Ring Road at the other.

The Melbourne-Sydney railway line dissects the two parcels.

The suburb is 25 kilometres from town.

Knight Frank’s Anthony Cementon and Martin Boueke are the agents.

Developers buying in

In recent years residential developers have been snapping up farms with residential development upside from Craigieburn, north to Donnybrook.

The most notable took place in 2010 when Stockland paid $300 million for the 1121 hectare ex-Lockerbie sheep station at Kalkallo with plans for a $4 billion community.

VicRoads and Kew

Meanwhile, closer to town, VicRoads is understood to be investigating relocating staff from its Denmark Street, Kew, headquarters – allowing that blue chip site to be sold and redeveloped.

It is speculated a region – like Ballarat – could be on the radar for a major office, with a Melbourne suburb, like Box Hill, able to accommodate a smaller commercial workplace.

The state government recently relocated the Transport Accident Commission from Exhibition Street to Geelong.

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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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