Automotive giant General Motors Holden (GMH) is set to sell one of Melbourne’s largest brownfield sites on the city fringe, a landholding sprawling over more than 37 hectares at Port Melbourne.
This site represents predominantly unused land within the greater GMH site at Port Melbourne, and does not include Holden’s headquarters located on Salmon Street. Holden will continue as a national sales company with a major dealer network presence long into the future.
CBRE’s Dean Hunt and Matt Haddon have been appointed to sell the site in one line via an International Expressions of Interest campaign commencing mid-August, 2015. The sale is proposed to be supported by short term income across some of the 200,000 sqm of improvements on site, providing significant benefits for master planning such a significant land holding.
Bordered by Todd Road, Cook Street and Salmon Street, the site represents approximately 30 per cent of the total industrial zoned land at Port Melbourne and is regarded as one of city’s the most tightly held industrial precincts.
Mr Hunt said that following re-zoning changes in Port Melbourne (Fishermans Bend Precinct) in 2012, and the most recent announcements on the employment precincts in April 2015, Fishermans Bend is undergoing one of the largest urban renewal projects in Australia. The plans encompass transforming 455ha of various industrial precincts to a sustainable and appealing community for business and residential use.
“This site represents a landmark opportunity to secure not only a significant industrial presence in tightly held Port Melbourne, but to acquire one of the largest city fringe brownfield footprints in Melbourne," Mr Hunt said.
Mr Haddon said: “Whilst the property is currently industrially focused, a collaborative approach with local and state authorities may provide opportunity for diversification of the site, with potential uses including; master planned office business park, large format retail, entertainment/ food and beverage, car sales and service hub, education or university campus.
"Another great opportunity would be an innovation and technology hub due to its location, neighbouring employers such as DSTO and Boeing.”