Investment Spotlight: Melbourne Business Park
In late 2019, Stockland and Mount Atkinson Holdings officially launched the 260 hectare Melbourne Business Park development along a vast area of land along Hopkins Road in Truganina. With the $194 million, 95 hectare first stage development underway, this project has an estimated $2 billion end value once fully developed. Stage 1 offers lots from 1.2 to 10 hectares (view the Masterplan).
With initial sales already confirmed, it is anticipated that this development will be in high demand with its easy access to key logistics infrastructure. The business park is just 2kms from the Western Highway diamond interchange and 30kms from the Port of Melbourne, as well as being easily accessible to key industrial precincts in Melbourne’s west and north.
Melbourne Business Park is being build adjacent to the Mt Atkinson residential development which itself is a 50 hectare master planned community that will feature an activity centre and amenities all within easy walking distance of a possible future train station on the Ballarat train line, or a short drive to the existing Rockbank train station.
The business park is likely to be popular with E-Commerce and logistics industries that are looking to upscale or establish their industrial footprint in Melbourne.
The area is flagged for significant freight and logistics infrastructure investment and is in close proximity to the planned Outer Metropolitan Ring Road, and Western Interstate Freight Precinct.
Once fully developed this business park has the capacity to support approximately 19,000 jobs.
The significance of this on the local economy will be huge as each job also has flow on effects to other industries and supports other jobs. While it is still unclear which industries will settle in here in the future, a quick economic impact assessment based on the following assumptions [9,000 jobs in logistics and warehousing; 5,000 jobs in Manufacturing; 5,000 jobs in Wholesale trade] shows the following potential flow on effects within the City of Melton:
Directly employed staff: 19,000
Supply chain jobs supported: 10,683
Consumption effect jobs supported: 4,685
TOTAL JOBS SUPPORTED: 34,368
When one considers that at the last census the total number of jobs in the City of Melton was 26,139 these numbers are very significant in the context of our future local economy.
For more information on the Melbourne Business Park development visit the Stockland website.
Bruce Marshall
Coordinator Economic Development & Tourism