Victoria Minister for Transport Infrastructure Jacinta Allan
Expression Of Interest Open For Treasury Square Site
Victor P Taffa
Andrews Government has today announced the start of an expression of interest process to develop vacant transport land in Melbourne’s CBD which has the potential to create jobs and attract new businesses.
“We’re getting on and delivering $70 Billion worth of new transport infrastructure across Victoria. Developing this prime piece of CBD real estate will allow us to continue investing in the transport services Victorians need.” Minister for Transport Infrastructure Jacinta Allan said.
Treasury Square site is located on the southern side of Flinders Street next to the rail corridor, and spans the area between Exhibition and Flinders streets, and Wellington Parade South.
“This site offers more businesses the chance to relocate to Melbourne’s CBD, where space is tightly held and at a premium.” Treasurer Tim Pallas said.
Developing the land presents an opportunity to increase office space or new hotels or apartments in the heart of the city, close to public transport.
“With a limited supply of land in the East End, Treasury Square provides a rare opportunity to deliver a landmark mixed-use development in Melbourne’s most valued commercial, residential and hotel precinct.” Managing Director of Capital Markets & Investment Services Colliers International John Marasco said.
Revenue generated from the sale will be invested into the Andrews Government’s record $70 Billion pipeline of major transport infrastructure across Victoria.
Expression of interest is being run by Colliers International and EY in conjunction with VicTrack and is open until Friday 8 November.
Outcome of the expression of interest will determine next steps, with any development to be subject to relevant planning controls and approvals.