| Austpac has purchased this strategically important site for long term mixed use redevelopment incorporating retail, office and residential accommodation, following a medium term approach to maximise cashflow from the asset with Retail, Self-Storage and Office accommodation.
The site is situated within a precinct that is directly adjacent to the burgeoning Southbank district on the door step of Melbourne’s CBD. It also forms a part of the Fishermans Bend area, identified by State Government for significant residential urban renewal. The approach by Austpac is to work with Local and State Governments to produce an urban design outcome for the South Melbourne precinct that will enable the evolution of a sustainable and energised living, working and planning precinct of world class standard. |