Developers salivate over potential $4b Melbourne inner city site

Rebecca ThistletonAustralian Financial Review Tuesday, 28 October 2014

A 20-hectare development site next to Melbourne’s CBD has been offered to the market in one lot, the first step in creating a $3 billion-$4 billion suburb at E-Gate, a rail yard in the city’s inner west.

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MacroPlan chairman Brian Haratsis, who is also on the board of Victoria’s Metropolitan Planning Authority board, said E-Gate would appeal to international developers who have access to cheaper credit than ­Australian developers.

Mr Haratsis said E-Gate offered the chance to develop anchor assets, such as a business park.

“It won’t be a vanilla residential area like Docklands was – it will have to be a project of considerable scale to stack up, “ he said.

Mr Haratsis said the scope for higher-density projects meant it would add to the broader area’s critical mass and boost customer numbers for nearby Docklands businesses.

Expressions of interest were called a little more than a month before the Victorian election, to be held November 29.

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Brian Haratsis Executive Chairman E: P: 03 9600 0500Brian Haratsis is MacroPlan’s Founder and Executive Chairman. Brian is an economist and future strategist with over 30 years’ experience as an advisor to governments and major corporate clients throughout Australia.Brian commands an unparalleled, on-the-ground knowledge of residential markets across Australia, having worked extensively and regularly in all capital cities and key regional markets.

About MacroPlan MacroPlan’s experienced and qualified economists align their understanding of macro-economic forces with micro-economic variables such as geographic and industrial characteristics, demographics, labour market shifts, resource demand and commercial realities.  Contact Brian Haratsis, Executive Chairman today to discuss your property research requirements.