FROM THE OFFICE OF THE PREMIER

DATE: Wednesday, April 11, 2001


$1.8 BILLION DEVELOPMENT SET FOR DOCKLANDS

The biggest contract to be signed at Docklands was announced today by Premier Steve Bracks, with one of the world’s largest property groups, Lend Lease, winning the $1.8 billion redevelopment rights for Victoria Harbour.

Up to 20,000 jobs are expected to be created over the life of the 15 to 17 year project.

The Lend Lease plans will include residential, hotel, office, community infrastructure and retail development with 22% of the total 30 hectare precinct to be redeveloped as public space.

“Today’s Victoria Harbour announcement makes Docklands one of the biggest property developments in the Southern Hemisphere,” Mr Bracks said.

Victoria Harbour is one of seven precincts at the 200 hectare Docklands, but is considered the centrepiece. It comprises half of the Dockland’s total seven kilometre waterfront bordered by both the Yarra River and Victoria Harbour.

“Under Lend Lease’s plans, Victoria Harbour will provide a mix of uses from residential through to hotels and offices while preserving substantial public areas to make it accessible to everyone,” Mr Bracks said.

“People will be able to enjoy the six hectares of public open space, they will be able to live at Victoria Harbour with a waterfront on both sides, and they will be able to work in an area which is attracting the latest in campus-style workplaces,” he said.

“This major development symbolises the confidence of the business sector in the Victorian economy,” he said.

Work is expected to begin in the middle of this year with marketing of the first residential building to begin later this year.

The Minister for Major Projects, Mr John Pandazopoulos, said: “Under this plan, we believe that Victoria Harbour will become the social and civic heart of Docklands with significant public open space.

“The entire 3.5 kilometre perimeter will have full public access and features,” he said.

Mr Pandazopoulos said the Lend Lease plan would see work begin at the Colonial Stadium end of the precinct.

The plan includes 2100 residential apartments, 160,000 square metres of commercial office space, 20,000 square metres of retail, restaurants and cafes and 15,000 square metres of community facilities.


“Victoria Harbour will again be a hive of activity after languishing as a surplus port for 20 years,” Mr Pandazopoulos said.

Docklands Authority Chairman Eric Mayer commended the quality of the bids for Victoria Harbour. “The Kuok Group, along with its partners, Commonwealth Properties, submitted a very strong bid proposal,” Mr Mayer said.

“Although it was beaten by a superior proposal, it was of a high standard and the group should be congratulated.”

Other Docklands developments already underway include:
· The Arkley, on the opposite side of Victoria Harbour, at MAB NewQuay which is expected to begin housing residents around Christmas this year
· 13 new restaurants, and a handful of convenience stores which will be up and running for early 2002.
· And Mirvac’s Yarra’s Edge first building which is scheduled to receive its first residents in August next year.

More information about the precinct redevelopment can be viewed at www.docklands.com





Docklands Authority media contact: Sally Carbon 9615 5504