Alcoa is seeking expressions of interest from potential development partners for its 515ha site at Point Henry, Geelong.
The site 7km from the Geelong CBD presents a superb green and brown field mixed-use development opportunity in a prime coastal and major regional location.
The opportunity is brilliantly located to benefit from population growth in Geelong and the broader region. It is:
Well serviced by water, gas and power infrastructure
Next to the future Geelong ring road connection with existing access to the Bellarine Rail Trail
Elevated at the point and the farmlands areas, with vast areas of north-facing 270-degree water views along with views of central Geelong, the You Yangs and Melbourne.
Proposed future land uses for the site align with the Moolap Coastal Strategic Framework Plan in terms of future rezoning expectations.
After more than 50 years of operating an aluminium smelter and rolling mill on the Point (about 70ha of the total site), Alcoa made the difficult decision in 2014 to close operations. Since then, Alcoa has progressed decommissioning and environmental remediation activities preparing the site for eventual redevelopment.
The remainder of the Alcoa site was used for farming activities by local farmers—which continues today—along with areas set aside for conservation, including wetlands and a native grassland.
In addition to the decommissioning and remediation activities, Alcoa undertook community and stakeholder engagement to create a Shared Vision followed by a Concept Masterplan for the future uses on the site, which was released in 2017.
This body of work was provided to the state as part of its Moolap Coastal Strategic Framework Plan, which was released in 2019 to govern future land use of about 1200ha, including the entirety of Alcoa’s site.
Alcoa’s landholdings represent one of the largest urban development opportunities in Victoria with an expected delivery period of 20-plus years.
With decommissioning complete and environmental remediation well progressed, Alcoa now believes it would benefit from partnering with a highly qualified and experienced developer to leverage their skills, knowledge, expertise and reputation in the property development sector to progress the site’s redevelopment.
Alcoa is seeking a development partner who share’s Alcoa’s values and vision for the redevelopment of the site as a legacy project for Geelong and the region.
The expression-of-interest process closes on August 19, 2024.
For further information, including gaining access to the EoI document and the data room, please contact au-fmalcoapthenry@kpmg.com.au.
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