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More than 6000ha of development-ready land will be unlocked under a comprehensive industrial land strategy revealed by the Victorian Government.
The 10-year Plan for Industrial Land will “deliver more than 3000 MCGs in equivalent land size, and could support up to $9.5 billion in industrial activity once all land is fully developed and utilised”, according to the state’s Economic Growth Statement.
The land strategy includes immediate action to review 3300ha of Special Use-zoned land at Altona North and Hastings for industrial development, and fast-tracking the Merrifield North precinct to deliver 900ha by 2028.
Premier Jacinta Allan said the plan would unlock industrial land, streamline investment pathways, slash red tape, and back new and existing industries.
A dedicated greenfield land concierge service will be established to work with councils and industry to identify and address development barriers in underutilised areas.
This service will complement existing projects, including the Northern Freight precinct’s 1400ha and Officer South’s 1000ha in Melbourne’s south-east.
To streamline development processes, the state plans to appoint an investment coordinator-general early next year who will oversee approvals for major projects. The role will ensure agencies meet deadlines and reduce delays across government departments.
Environmental approval reforms would target an 18-month maximum assessment period for Environmental Effects Statements, down from the current 34-month average. This would save businesses $155 million a year through reduced approval times, the documents said.
The reforms include establishing an ‘investment front door’—a single-entry point for business engagement with the Victorian Government. This initiative would provide support for site identification, development approval pathways, and a dedicated service for institutional housing investment.
Additional initiatives include expanding the Development Facilitation Program to expedite rezoning of significant underutilised land holdings, such as former industrial sites, golf courses and surplus university land.
Universities can access windfall gains tax exemptions when revenue from land sales supports their charitable purposes.
Property Council Victorian executive director Cath Evans said the shortage of developable industrial land had been threatening Melbourne’s traditional competitive advantage over other markets for some time.
She said while the scheme was welcome, tax settings remained the greatest barrier to increased investment in Victoria.
The reforms will be supported by the $20-million Victorian Industry Development Fund, opening mid-2025, which will provide matched funding grants and establish a loan facility for innovative Victorian businesses.
Since December 2014, the government has facilitated investment worth $24.5 billion in Victoria, creating more than 52,000 full-time equivalent jobs.
The new strategy aims to build on this by providing businesses with clear pathways for expansion and development while streamlining regulatory processes.
The plan will focus on Melbourne’s northern and western growth corridors and regional Victoria, with the full industrial land strategy to be released in 2025.
According to the Economic Growth Statement, projected population growth will see Greater Melbourne reach 8.5 million people by 2051.
This strategy would address employment needs, with Melbourne requiring 3.1 million jobs by 2031 and 4.1 million by 2051—an increase of 1.8 million jobs over current levels.
The Victorian Government has been on a development and productivity tear of late. It this week announced plans to fast-track small-lot development in its new Small Lot Housing Code and last month said it would expediate approvals for well-designed developments as part of its Great Design Fast Track pathway scheme.
