Victorian State Government Offloads More Inner-City Property

Those with longer memories however may recognise the site from its previous use between 1978 and 1985, and after the completion of the Westgate Bridge, as a toll facility. The site still contains the safe for storing the toll payments.

The Port Melbourne site is expected to sell for about $14 million, and make way for a high-profile business park possibly with a high-tech industrial component. Jones Lang LaSalle is the marketing agent.

Elsewhere in the immediate area, the State Government recently launched a Registration of Interest campaign to redevelop another site at Docklands between Wurundjeri Way and the Yarra River into a mixed use village possibly including shops, apartments, offices and a hotel.

The Department of Education and Early Childhood Development also sold a prominent 1.5 hectare site at Prohasky Street, Port Melbourne, which it had previously used to store unused school portables.

That site suddenly found itself at a prominent freeway onramp, as part of recent major freeway works, and sold for about $3 million to a developer, who is expected to capitalise on the newfound high profile.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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