Global animal health company Zoetis Australia has purchased the majority of the former CSL site in Melbourne from the Victorian Government.
The state said Zoetis had invested $350 million as part of the deal.
It includes capital to start sovereign manufacturing capabilities and the acquisition of the former CSL site at Poplar Road, Parkville.
It said the deal would create about 95 jobs.
CSL moved to its new headquarters on Elizabeth Street, also at Parkville, in August, 2023.
The Victorian Government is keen to establish the Parkville Precinct as a biomedical centre and a hub for innovation and advanced manufacturing.
“It’s a $350-million vote of confidence in Melbourne... and as we continue to invest in infrastructure and housing in the area, Parkville will further cement itself as a world-leading biomedical hub,” the housing minister Colin Brooks said.
Zoetis produces vaccines, products and diagnostic tools for the livestock and domestic animal industries.
“This investment by the world’s largest animal health company is a huge win for Victoria, positioning us as a global leader in vaccine production and boosting local jobs and capabilities in R&D, innovation and manufacturing,” jobs and industry minister Natalie Hutchins said.
Zoetis chief executive Kristin Peck said the deal was a key part of its strategy to expand operations in Australia.
“This investment will enable us to meet future demand for essential veterinary and livestock vaccines in Australia as we look to expand capacity, upgrade our production capabilities and facilitate exports to new markets,” Peck said.
CSL recently expanded its Broadmeadows plasma fractionation facility and set up a global head office and labs, also along Elizabeth Street.
It also has a new purpose-built facility at the Melbourne Airport Business Park, Tullamarine.
The Parkville Precinct is on track to be serviced by the new Parkville Station as part of the Metro Tunnel project, which is due to open in 2025.
Meanwhile, Perth-based Satterley Property Group’s founder, Nigel Satterley, has reportedly paid $215 million to $220 million for the former Kingswood Golf Course site.
Satterley allegedly beat out other bidders including Mirvac for the 56.4ha site, which is now rezoned to residential use within Dingley Village.
It reportedly has space for 800 homes and could generate $350 million in sales.
AustralianSuper purchased the site in 2014 for a reported $125 million and then fought to get approval for its rezoning and its plans for housing.
Charter Keck Cramer advised AustralianSuper while Colliers handled the sale.
AustralianSuper decided to change its property investment strategy in September 2023 when it listed the site for sale.
