Melbourne tip set for $200m business park
Troon Group and MaxCap Group have been given the green light to replace a 10.5 hectare ex-tip over three streets in Melbourne’s south east with a $200 million business park (artist’s impression, top).
Nine buildings with a total 60,000 square metres are earmarked for 618 Clayton Road, Clayton South.
Construction is set to start at the end of the year and take 24 months.
It is the fourth joint venture for the developer and financier; other projects include the swank refurbishment of the ex-Salvation Army headquarters in Mont Albert and retail investments at Chirnside Park and in Ballarat’s Delacombe.
Also today we are reporting the pair committed to a fifth project after outlaying a speculated $65m for a 5.5ha amalgamation near the proposed Cheltenham Suburban Rail Loop station with plans for offices, shops and essential services – all up, c$200m of product.
Clayton Industrial Business Park
Troon and MaxCap paid $26.3m for 618 Clayton Rd – a landfill site over 30 years ago – in December, 2022 (story continues below).
The redevelopment, to be branded Clayton Industrial Business Park, will also front Deals and Fraser roads.
“We are thrilled with the speed with which we were able to secure the permit and appreciate the efforts of the state government and [City of Kingston] in supporting the application,” Troon managing director, Tom McInerney, said.
“This will allow us to execute on our strategy of creating a…prime-grade industrial estate across nine warehouses to provide much needed new supply into the highly constrained south east industrial and logistics market,” he added.
Clayton South is 20 kilometres from Melbourne’s CBD.
Subscribe to our newsletter at the bottom of this page.
