Development Victoria advises that the Ballarat West Employment Zone (BWEZ) site originally sold to Broo Ltd in early 2017 has been returned to Development Victoria.
Broo was not able to fulfil the development agreement obligations and, under the terms of the contract with Broo, Development Victoria has repurchased the land at its original sale price.
We are now reviewing our options for the development of this prominent site in Stage 1 of BWEZ and remain committed to achieving the best outcome for BWEZ and the Ballarat community.
BWEZ is driving economic growth within the Ballarat region, attracting new businesses, creating jobs and has provided housing opportunities for the community through the development of residential land.
There is high demand for industrial land in Ballarat and BWEZ. Sales-to-date and those underway will result in more than approximately 600 full-time jobs.
Planning approval has been granted for Stage 2 comprising 23 lots adjacent to Ballarat Airport. Construction is anticipated to begin this year with new businesses expected to make Stage 2 their home in late 2024.
There was strong interest for the recent Expression of Interest process for two lots comprising around 20 hectares in Stage 3 and also for approximately 30 hectares of land in Stage 4. The remainder of Stage 3 land is still to be released for sale.
BWEZ is a $30 million joint initiative between the Victorian Government and the City of Ballarat to support the region’s economic growth over the next 20 years.
Development Victoria is delivering the project in partnership with Regional Development Victoria.
Updated on 26 May 2023