This article is from the Australian Property Journal archive
THE Victorian state government and AFL have entered a joint venture agreement to look at redeveloping two major Docklands sites.
The sites at 140 and 160 Harbour Esplanade are being explored as a major new development opportunity for a range of potential uses including housing, commercial and entertainment.
The agreement has been drawn between the state government’s property developer, Development Victoria, and the AFL.
“We are committed to delivering a memorable experience for fans and visitors to the precinct and excited by the opportunities this agreement presents at the site,” said Matt Chun, executive general manager of finance, clubs and infrastructure at AFL.
In 2018, Development Victoria purchased the leasehold to 160 Harbour Esplanade, which is currently home to the Channel 7 broadcast centre.
The Channel 7 building sits adjacent to AFL House, with the potential redevelopment of the sites and integration with Marvel Stadium presenting opportunities to deliver a mixed-use development to revitalise the Docklands’ waterfront while enhancing the sports and entertainment complex.
“We invested $225 million to fund the redevelopment of Marvel Stadium so that we can continue to attract sporting and entertainment events to Melbourne and ensure Victoria remains the major events capital of Australia,” said Steve Dimopoulos, minister for tourism, sport and major events.
A planning scheme amendment application to change the Melbourne Planning Scheme to include potential building outlines and design requirements for future buildings on the sites has been lodged for consideration by the minister for planning.
“The Joint Venture will unlock a major new opportunity in Docklands to deliver housing, commercial and entertainment developments that transform Docklands’ waterfront and enhance Marvel Stadium as a sports and entertainment precinct,” said Natalie Hutchins, acting minister for development Victoria.
Meanwhile, the popular Docklands location of Costco is leaving the area. With the supermarket giant confirming the store will relocate to Ardeer, around 15km west of the city.
“Costco is continually looking to improve our members’ experience and bring great value,” said Chris Tingman, country manager at Costco to news.com.au.
“We are closing the Docklands warehouse and relocating to Ardeer. Costco is very excited to be a part of the wider Melbourne West community; we feel it is the perfect location for offering more convenience for our rapidly expanding membership base.”
The Docklands location was the first Costco store to open in the country, opening back in 2009.
