The Victorian government plans to sell surplus land around 10 Melbourne suburban train stations to private sector property developers, generating $1 billion in new investment for the state over the next three to five years.Victorian Premier Denis Napthine...“These projects will create more than 3,000 direct project delivery jobs, with a further 5,000 indirect jobs.” Photo: Josh Robenstone
Sites at Jewell and Hampton have already been brought to market and one at Alphington is expected to be released for sale via an expression of interest campaign by the middle of the year.
The planned sale of government land was announced by Victorian premier Denis Napthine and Victorian Transport Minister Terry Mulder.
“Economic modelling undertaken by MacroPlan has shown that the 10 sites identified by VicTrack for potential development in coming years will facilitate more than $1 billion in investment opportunities over the next three to five years and $5 billion in economic stimulus,” Dr Napthine said.
More than 8000 jobs will be created during the construction phase and around 800 after completion.
TENDER TO PRIVATE SECTOR
The program will be delivered by VicTrack via a competitive tender process offered to the private sector.
The announcement was welcomed by the Property Council of Australia, business leadership group the Committee for Melbourne and Consult Australia, representing consulting firms.
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 David Brown, General Manager for Victoria today to discuss your property research requirements.