New Melbourne suburb to present commercial property investment opportunities
The construction of Melbourne's newest suburb will present a number of residential and ...
The construction of Melbourne's newest suburb will present a number of residential and commercial property development opportunities - potentially attracting the interest of investors.
Located in Melbourne's west, the unnamed suburb - to be built at the 750 hectare Werribee Employment Precinct - will become a mixed use of area comprising private properties, as well as retail and office real estate.
Speaking yesterday (November 20), state planning minister Matthew Guy urged Victorians to have a say in naming the suburb.
"This is an unprecedented opportunity for all Victorians to have a say in the naming of this new suburb and I'd encourage everyone to have a think about a suitable new identity for this community of the future," Mr Guy remarked yesterday (November 20).
Housing Industry Association chief executive Gil King said the project will have flow-on effects to a number of different sectors including retail and commercial development, as well as providing Melburnians with more affordable real estate options.
"Keeping housing affordable and providing adequate infrastructure to support access to services as part of the proposal will be amongst the key challenges for government as it moves ahead with the development at East Werribee," Mr King said.