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Overview
Precinct 5 comprises of approximately 2.37 hectares of developable land and is zoned for mixed use development in accordance with the Junction Place Masterplan.
In August 2019, Development Victoria released a Request for Proposal (RFP) to the market to secure a developer for the site. The RFP closed on 28 October 2019.
Following the RFP assessment process in late 2019, Development Victoria has decided not to progress the divestment of Precinct 5 at this stage and intends to take the site back to the market in the future.
Location
Precinct 5 is bound by Smythe Street to the east, South Street to the north, Watson Street to the west, and Lalor Place to the south.
Timeline
2019
August
- Development Victoria released a Request for Proposal to the market to secure a Developer to acquire and develop the site
October—November
- Request for Proposal process closed, submissions evaluated by project’s evaluation panel
2020
Late 2019—2020
- Following the Request for Proposal assessment process in late 2019, Development Victoria has decided not to progress the divestment of Precinct 5 at this stage and intends to take the site back to the market in the future.