Business Services Industry
$800m plan for city 'bombsite'.
Australasian Business Intelligence, October, 2006
Byline: Michelle Draper
Oct 31, 2006 (The Age - ABIX via COMTEX) -- Australian developer, Grocon, plans an $A800 million project on a former brewery site in Melbourne. It has bought the asset on the corner of Swanston and Victoria streets from RMIT University for $A39 million. Grocon plans to develop a precinct comprising retail, office and residential buildings. Industry commentators said that building speculatively involves risk, but the company is large enough to undertake projects without commitments by tenants. The project needs to be timed so that completion does not coincide with an expected peak in office vacancies.
Publication Date: 1 November 2006
GROCON PTY LTD
RMIT UNIVERSITY
ROYAL MELBOURNE INSTITUTE OF TECHNOLOGY...
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