The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
LESS THAN 30 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
4 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
8
print
Print
InfrastructureMarisa WikramanayakeThu 03 Nov 22

Investment House Takes Slice of Arden Precinct

The plans for the new Metro station at the Arden Precinct in North Melbourne.

A major investment company’s real estate win has snapped up a substantial site in Melbourne’s Arden precinct.

BRC Capital’s development arm BRC Developments has bought the site from local businessman Nick Theodossi in an off-market deal brokered by Colliers agents Trent Hobart and Robert Papaleo for an undisclosed amount.

Arden Central is a 5463sq m site at 189-203 Arden Street and is slated to be the gateway site for Victoria’s largest urban renewal precinct.

The 45ha Arden Precinct Structure Plan was introduced into the Melbourne Planning Scheme earlier this year.

It outlines a mixed-use development project for the site worth more than $600 million with construction earmarked to begin later in 2024.

The precinct in North Melbourne is expected to have up to 15,000 new residents and 34,000 workers, with most of the development fuelled by the new Arden station that is scheduled to open from 2025 when the Metro Tunnel project is completed.

The Arden Station will also be connected to the Airport Line from 2029, making it easy for travellers to get into the city quickly.

The plans for the new Metro station at the Arden Precinct in North Melbourne.
▲ A render of the new Metro station planned for the Arden Precinct.

The Metro Tunnel project will cost $11 billion.

The precint also neighbours the $5 billion Hospital Campus project. 

BRC chairman Paul Docherty said that with BRC Developments investment in sustainability, technology, infrastructure and, most recently, medical technology, it made sense to acquire the property. 

“We are trying to take more control of our destiny in regards to the facilities that we build, which are, by definition, reasonably expensive,” Docherty said.

“We've got to be somewhere where, from a health perspective, we're close to where health workers are going to be, and that is clearly in and around that area.”

The company has just invested in personalised medical device company 3DMEDiTech, partnering with the Victorian government to increase its manufacturing capability.

The company has successfully collaborated with the University of Melbourne to establish the MedTech Innovation facility, officially launched as the Joint Research and Training Centre.

The JRTC partnership with the uni will likely move into the Arden Innovation Precinct as part of BRC’s ongoing expansion of its medtech capability.

It is currently housed between two locations—3D MediTech’s Port Melbourne site and the university’s Parkville Campus. 

Colliers national director Trent Hobart said it was a key site in the future development of the city.

“The sale marks a significant transaction in Melbourne’s prime city fringe and reflects confidence in Colliers’ and BRC’s vision for the Arden precinct,” he said.

“The Arden Central precinct will become a key destination for Victoria and an integral employment, education, medical and innovation precinct.”

ResidentialMelbourneAustraliaReal EstateSector
AUTHOR
Marisa Wikramanayake
The Urban Developer
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
View All >
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
Sponsored

Regional Home Designs That Maximise Comfort and Space

Partner Content
Markets

Private Credit’s Biggest Risk in Expansion: Sameer Chopra

Taryn Paris
In this exclusive member-only webinar CBRE head of research Sameer Chopra explores the growth of the private credit mark…
LATEST
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
4 Min
Development

Regional Home Designs That Maximise Comfort and Space

Partner Content
3 Min
Markets

Private Credit’s Biggest Risk in Expansion: Sameer Chopra

Taryn Paris
2 Min
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/BRC-capital-developments-arden-central-sale-victoria