Expressions of Interest are being called from the private sector to partner the City of Melbourne, Victoria in a landmark mixed-use development.
The development is to include specialist retail, customer parking, community facilities and residential apartments on the last remaining 6,329 square metre freehold site in the centre of the Queen Victoria Market precinct.
The land, which was secured by Council for $76 million in October 1974, has been described by Lord Mayor Robert Doyle as having vital strategic importance to Melbourne Council’s vision for the renewal of the markets for which $250million has been allocated.
Mayor Doyle said the market renewal was a history-making investment being the largest ever made by Council. He claims that the new development in the Queen Victoria Market precinct would help fund such investment.
Doyle states that the new development project within the precinct will provide a rare chance for private sector investors to join the Council in delivering an outstanding mixed-use development which has all the hallmarks of a smart development. Brochure printing is likely to be used to show residents and investors the many different uses the development will encompass.
According to the Mayor, the aim of the development is to complement the market and inject new life into the neighbourhood.
A ‘Request for Proposal’ process is set to begin in October this year once a shortlist of all interested developers has been finalised.
