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Commercial property development earmarked for Docklands

On Feb 13 2013
Tagged as:
  • VIC


A multimillion-dollar commercial real estate development earmarked for Docklands is expected to ...

A multimillion-dollar commercial real estate development earmarked for Docklands is expected to drive more investment into the Victorian capital.

Planning minister Matthew Guy said the approved building at 839 Collins Street, which will comprise mostly of office space, will generate significant economic benefits for the state.

"This development is central to the Victoria Harbour Development Plan and will stimulate
continued growth in Docklands commercial centre, with significant flow-on benefits to the Victorian economy," Mr Guy remarked.

"Docklands has already attracted more than $8.5 billion of private investment at the half-way mark and this development is yet another example of private sector confidence in Docklands."

Dubbed Building Y4, the nine level campus style development - to be located in the heart of Melbourne's financial district - will include a central atrium linking Collins Street to the Yarra River.

Investors looking to snap up commercial office property in one of the city's fastest growing areas may be interested in the latest project, with the building joining the likes of ANZ, the Australian Taxation Office and NAB that already call Docklands home.

The minister went on to say that the state government is currently working on developing a new Metropolitan Planning Strategy, which will shape the future of Melbourne.