This article is from the Australian Property Journal archive
VICTORIA’S Allan government is looking to unlock 6,000 hectares of industrial land over a decade, and is fast-tracking the Merrifield North greenfield precinct by five years, in a bid to generate an estimated $9.5 billion in economic activity.
The Victorian government said the aim is to unlock “well-located and accessible land that takes advantage of curfew free air and seaports serviced by existing rail and road infrastructure”, and “deliver more greenfield employment precincts by safeguarding industrial land and rezoning underutilised areas”.
The plan will be released in 2025.
In the immediate term, the government is bringing forward planning of the Merrifield North precinct with planning commencing this financial year and completed by the end of 2028, five years ahead of what was announced in an initial 10-year plan.
The precinct is close to the future Cloverton Metropolitan Activity Centre and comprises more than 900 hectares and with capacity for up to 4700 jobs.
It will also review zoning of up to 3,300 hectares of industrial land at Altona North in the west and Hastings in the south-east, which is currently restricted under special use zoning, and task a new, dedicated greenfield land concierge service with working with councils and industry to unlock land identified for industry and employment that is currently underutilised, identifying and addressing issues preventing development.
“Victoria is open for business – that’s why we’re unlocking industrial land, streamlining investment pathways, slashing red tape and backing new and existing industries,” Premier Jacinta Allan said.
From early 2025, A new investment coordinator-general will be established to ensure agencies, regulators and statutory authorities meet all required approvals deadlines for major projects of state significance.
The government will also create what it calls an “investment front door” – a streamlined, single-entry point for business on all investment-related engagements within the Victorian government, to assist with business case and market entry support, client and partner introductions, identifying suitable sites, identifying development approval pathways, skills and talent assistance and more.
This will include a new one-stop shop for institutional housing investment, to prioritise and facilitate institutional investment at scale – designed to support the state government ambitious target of 800,000 homes over a decade as part of its Housing Statement.
The government will also speed up the Environmental Effects Statement (EES) process process, targeting an assessment review of no longer than 18 months. More than half of all assessments exceed this timeframe.
“These reforms are expected to reduce the approval times for project proponents by an average of 16 months, saving businesses an estimated $155 million per year in avoided costs. And up to $240 million in additional major project investment per year could be brought forward through faster assessments, enabling more EES projects to be considered,” the government said.
