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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