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Melbourne Docklands to attract 20 million tourists annually

On Jul 02 2012
Tagged as:
  • Commercial Property


The recent approval of a new development, part of the $12 billion Melbourne Docklands project, may ...

The recent approval of a new development, part of the $12 billion Melbourne Docklands project, may appeal to those interested in property investment in the Victorian capital.

The state government announced last week (June 29) approval of the New Quay project, which will comprise of new residential accommodation, a five-star hotel, vital infrastructure, an urban park and waterfront retail and restaurant spaces.

Construction of commercial retail property in the heart of Melbourne will boost the Docklands’ reputation as a thriving inner city community and popular tourist destination for 20 million people each year.

Approval of the New Quay project coincided with the government's announcement that planning power of the Melbourne Docklands project would be handed over to the city council.

Minister for planning Matthew Guy said: "From today, the residents of Docklands will have a direct connection through their council to planning decisions and will have a stronger voice over decisions that impact upon their community."

As a part of the multi-billion Docklands project, spanning over two decades, the Yarra precinct would be transformed into a lively inner-city area home to 17,000 residents and workplace for 40,000 people.



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