This article is from the Australian Property Journal archive
VICTORIA’S Allan government and the AFL are a step closer to transforming the Docklands waterfront, after rezoning of Channel 7 broadcast centre and land next to Marvel Stadium was approved.
Minister for Planning Sonya Kilkenny approved a Planning Scheme Amendment for 140 Harbour Esplanade, home to the AFL-owned Marvel Stadium, AFL House and surrounding land, and 160 Harbour Esplanade, currently occupied by the Channel 7. Development Victoria acquired the leasehold of number 160 in 2018.
The Seven Network confirmed earlier this year it would move its Melbourne office and studio to Lendlease’s multi-billion dollar Melbourne Quarter precinct from early 2025, officially vacating its long-term Docklands home that is slated for a major overhaul.
The network will be moving into 4,500 sqm across levels three and four of Melbourne Quarter Tower, the precinct’s flagship commercial building that is currently under construction.
The rezoning allows for a range of developments including housing, commercial, residential, and entertainment.
“Future redevelopment of these sites and their integration with Marvel Stadium, will allow us to deliver more homes, jobs, shops, restaurants and entertainment to the Docklands waterfront,” Minister for Development Colin Brooks said.
Marvel Stadium itself is fresh from a $225 million investment from the state government that upgraded its hospitality facilities and amenity.
AFL executive general manager infrastructure, Matthew Chun said the recent redevelopment of Marvel Stadium is “already delivering the precinct with increased visitors across the various footy matches, international sporting events and concerts hosted this year”.
“The opportunity any future development to these sites will only amplify Marvel Stadium and surrounding precinct as the destination sports and entertainment complex.”
Docklands is attracting some $15 billion worth of private investment and has a growing a workforce that now totals more than 73,000 – although an excess of supply has seen the office vacancy rate top 20% in 2024 – while thousands of homes are to be built in the precinct, including a mix of market homes and build-to-rent.
Australia’s largest build-to-rent project is set for Docklands, after the Allan government approved AsheMorgan’s 925-apartment project plans at 24 Little Docklands Drive, near Marvel Stadium and the Esplanade. Located within the Docklands Primary School catchment, it will aim to capture young families in the market and offer a mix of studios, one, two, and three-bedroom apartments – some over two levels – as well as over 4,000 sqm of amenity.
Meanwhile, Gurner and Liberman family-backed joint venture partner City Harbour this year unveiled plans for a “futuristic wellness and anti-ageing utopia” within their $1.7 billion Elysium Fields project on Harbour Esplanade, next to Marvel Stadium, which will include a build-to-rent component within its 1,350 apartments.
Developer Samma Property Group has the green light for a $250 million tower with build-to-rent on the Yarra River, next to the Bolte Bridge. Designed by Fender Katsalidis, the 31-storey tower will rise up from a 4,509 sqm island site at 194 Lorimer Street and comprise 402 apartments.
In April, Lendlease launched its new waterfront residential project in Ancora at Collins Wharf, which will have 303 apartments and penthouses across 28 storeys.
