Victorian government looking for developer for Federation Square East site

The Victorian government has started the search for a developer for the “jewel in the crown” of Melbourne’s mixed-use development sites, Federation Square East.

An expression of interest campaign has been launched by Deputy Premier Peter Ryan and Minister for Major Projects David Hodgett.

The 3.3 hectare Federation Square East site is a unique opportunity right in the heart of the city, said Ryan.

“Federation Square East will be a new jewel in Melbourne’s crown,” he said.

“We are offering a 3.3 hectare site with exceptional building layout and design flexibility to accommodate a mixed-use development. We are looking for a great design and exciting, active spaces to create a new destination that is the very essence of Melbourne."

Ryan noted that it will be a major new precinct, taking advantage of the site’s location close to transport, and is part of a government effort to unlock the underutilised land along the rail corridor, including E Gate, Flinders Street Station and Richmond Station.

“Together, this suite of projects represents opportunities for billions of  dollars in development, the creation of thousands of jobs, and a project pipeline stretching out for decades,” he said.

Hodgett called the project an exciting new phase, noting that the request for industry submissions process conducted in 2013 confirmed that an appetite exists for viable mixed use precincts.

“The successful proponent will secure the best development opportunity currently available in Melbourne in terms of location, flexibility, amenity, infrastructure and marketability.

“We have an excellent site in the heart of a prosperous city with a strong property market and I am looking forward to seeing what the innovation and creativity of industry can deliver for Melbourne,” Hodgett said.

The expressions of interest campaign ends on 11 December 2014.

The site is bound by Federal Square and Russell Street to the west, as well as Flinders Street to the north, Batman Avenue to the east and Birrarung Marr to the south.

Of the 3.3 hectare site, approximately 2.3 hectares is above rail lines, with the last hectare used for car parking.

The expression of interest notes that the developer will need to be able to cover the project “without a capital contribution or regulatory relaxation by government”.