A one-day deep dive on office, retail, healthcare, childcare and alternative sectors
UPCOMING | COMMERCIAL REAL ESTATE SUMMIT
Resources
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
Partners to develop prime waterfront land next to Melbourne’s Marvel Stadium are being sought by Development Victoria and the AFL.
An expression-of-interest process has opened and offers a 177-year leasehold on 20,695sq m of waterfront land at Docklands with approval for 181,730sq m of mixed-use development.
Home to Marvel Stadium, AFL House and the former Channel Seven broadcast centre, the sites at 140 and 160 Harbour Esplanade have the potential to deliver a diverse mix of housing, commercial spaces, hospitality venues and entertainment options.
“This is a unique opportunity to partner with us and the AFL to deliver one of Melbourne’s most exciting mixed-use developments,” Development Victoria chief executive Angela Jolic said.
“We are looking for an experienced developer who can bring forward bold, high-quality ideas that would revitalise the waterfront, create public spaces, and strengthen Docklands as Melbourne’s CBD waterfront destination.”
Planning Scheme Amendment C438melb, approved in August 2024, permits a potential gross floor area of 181,730sq m across three towers of 129m, 113m and 90 metres.
The development would build on the $225-million Marvel Stadium upgrade completed in 2024.
AFL executive general manager of finance, clubs and infrastructure Matthew Chun said the redevelopment would continue to amplify Marvel Stadium and surrounding areas as the destination sports and entertainment complex in Melbourne.
Cushman & Wakefield has been appointed to lead the campaign.
Cushman & Wakefield managing partner, strategic consulting Ross Hamilton said the project would be “one of the most exciting urban renewal opportunities in the country”.
“The scale, location, and strategic importance of the Harbour Esplanade assets make them truly unique,” he said.
The masterplan allows for a diverse mix of uses including residential, office, hotel and retail hospitality components. A development agreement with the preferred bidder is expected in late 2026.
Proposals close on December 5. Successful respondents will then progress to a request for proposal stage planned for mid-2026.
“The EOI process is the first step in unlocking the potential of these sites, and we’re excited to see proposals that balance commercial outcomes with benefits for the community,” Jolic said.
In the broader Docklands precinct, the state planning minister recently approved the second stage of Gurner’s Elysium Fields development at 25 and 58-64 Digital Drive.
That project would deliver 436 homes, 176 hotel rooms and 103 serviced apartments, alongside recreational facilities and a new gateway park at Dudley Street and Harbour Esplanade.
The second stage won conditional backing from the City of Melbourne in September, albeit with a raft of conditions.
Permit approval requirements include amended architectural plans that address height, facade design, ground-floor entries and split the building’s podium with an open-air pedestrian thoroughfare.
Measures to reduce overshadowing of the future central park and wind safety criteria must be met for surrounding public land without the use of wind barriers in public spaces.
A precinct-wide wind assessment considering cumulative effects from existing and future towers is required and public thoroughfare areas must remain accessible 24 hours a day.
The agreement mandates that at least 3 per cent of Tower 5 homes be allocated as affordable housing for key workers, which must be established before occupancy.
