Jobs and Precincts have been talking with a number of defence firms about the site for some time now, both Primes and innovative SMEs. I highly suspect BAE Systems' (yet to be established) Red Ochre Innovation Hub will be sited here.
Victoria will be at the forefront of global innovation in advanced manufacturing, engineering and design, fired by a generational investment to kickstart a key CBD-edge transformation and driving the creation of thousands of new jobs. The Andrews Labor Government will invest $179.4 million in...
Delivering New Fishermans Bend – And Jobs Of Tomorrow
17 May 2021
Victoria will be at the forefront of global innovation in advanced manufacturing, engineering and design, fired by a generational investment to kickstart a key CBD-edge transformation and driving the creation of thousands of new jobs.
The Andrews Labor Government will invest $179.4 million in the Victorian Budget 2021/22 to support stage one of the Fishermans Bend Innovation Precinct development at the former General Motors Holden site – four kilometres from the city centre.
This first step will involve remediation of the 32-hectare GMH site – an area equal to 15 MCGs – and the installation of crucial infrastructure and services to make an investment-ready precinct. In three years, a new road will link Salmon Street and Todd Road, passing a new public park.
As many as 300 people will work on the project at any one time, with close to 700 indirect jobs also supported. Stage one is expected to unlock developable land capable of supporting 2,000 jobs by 2024.
The precinct will encourage collaboration between industry and academia, with the University of Melbourne leading the way.
Fishermans Bend will house the University of Melbourne’s School of Engineering from 2024 and the innovation precinct is forecast to be capable of supporting up to 30,000 STEM jobs by 2051.
The precinct will cement Victoria’s status as a powerhouse of advanced manufacturing and support high-paid innovation jobs in defence, aerospace, clean energy and transport. It will also strengthen our state’s capacity to commercialise new ideas and foster new business ventures.
The innovation precinct is at the heart of the 230-hectare Fishermans Bend Employment Precinct, recognised as a strategically important employment and innovation cluster which is already home to world-renowned firms including Boeing and Siemens.
Fishermans Bend is Australia’s largest urban renewal project, covering around 480 hectares that will be home to around 80,000 people and 80,000 jobs by 2050. For more information, visit fishermansbend.vic.gov.au/.
GMH established its Fishermans Bend operations in the 1930s, first to assemble imported engines and locally-produced bodies. In the late-1940s, the site delivered Australia’s first mass-produced vehicle – the FX Holden – and GMH’s operations expanded while fellow carmakers followed the leader and set up factories in the area.
Development Victoria bought the former GMH site in 2017 and is leading the project to remake the historic precinct.
Quotes attributable to Minister for Business Precincts Martin Pakula
“The old Holden factory is part of Victoria’s manufacturing history. This important first step will help transform it into Victoria’s manufacturing future.”
“We’re creating the foundations for a world-leading hub for ideas, innovation and 21st century industry – it’s an investment in jobs and the people of Victoria.”
Artist’s impression of the ex-GMH site in 2050.
The state government has committed an initial $179.4 million to develop the ex-General Motors Holden site as the Fishermans Bend Innovation Precinct.
The Innovation Precinct (centre) occupies nearly 15 per cent of the Fishermans Bend Employment Zone.
The Department of Jobs, Precincts and Regions is hoping to deliver the first buildings within three years.
The Thistlethwaite Street site (shaded) is in Montague, permitted for major residential development.
By 2050, it anticipates dozens of new structures – a mix of offices and high-tech industrial – will have been constructed.
The Montague Street parcel (shaded) spreads 663 sqm.
The government paid $130m for the 32 hectare GMH plant in 2016.
The land is at the centre of a 230ha zone bound by the Bolte and West Gate bridges, Williamstown Road and the Yarra River, known in planning circles as the Fishermans Bend Employment Hub and expected to accommodate 40,000 jobs.
About 80,000 residents are earmarked to live within four other Fishermans Bend precincts covering 250ha – Lorimer, Montague, Sandridge and Wirraway. Fishermans Bend Innovation Precinct
The University of Melbourne has already committed to 7.2ha of the GMH site with plans for a $2b campus – comprising the Melbourne School of Engineering and spaces for the Faculty of Architecture, Building and Planning.
The school’s tallest proposed buildings could rise 141m – or about 40 floors.
A Social Centre within the car maker’s c1946 canteen is also earmarked.
“The Victorian government has a clear vision for the Innovation Precinct as an internationally renowned centre of innovation in advanced manufacturing, engineering and design,” DJPR said.
It will target other education-based occupiers and private sector businesses from large research houses, business incubators and accelerators to start-ups.
“The Fishermans Bend innovation Hub is a really exciting opportunity for Melbourne’s long-term competitiveness as a city in attracting industries focused around advanced engineering, technology, research and development and in turn the city’s ability to continue attracting highly skilled talent,” according to Emmetts managing director, Charles Emmett, who is co-marketing two Capital City 1 zoned sites in the area – a 663 sqm parcel in Montague St and a 507 sqm block at Thistlethwaite St.
“To have the opportunity to house this kind of industry at scale within a stone’s throw to the CBD and benefiting from the level of connectivity that the precinct enjoys including access to Melbourne Airport is something that is incredibly difficult to replicate in other urban areas both nationally and internationally”, he said (story continues below).
Greystar recently acquired a Montague block for a 722-dwelling Build to Rent project,
“It is also exactly what the broader Fishermans Bend precinct requires in order to evolve into a truly mixed-use urban precinct as opposed to a purely residential one”.
Fishermans Bend is planned with five precincts – the Employment Zone (outlined, red), Lorimer (blue), Montague (teal), Sandridge (orange) and Wirraway. Fishermans Bend Employment Zone
Boeing, Siemens and Toyota are amongst the Fishermans Bend Employment Precinct’s high-profile occupiers.
A federal government Science and Technology facility is also based there.
Following the $179.4m DJPR commitment, the government expects the private sector to start repurposing neighbouring product.
Incorporating the residential zones, according to a 2018 Colliers research report, major landowners – in many cases for funds management clients – include Goodman, with c33ha, Dexus (5ha), AMP Capital (3.3ha), Salta (2.9ha), GPT (2.5ha) and Altis (2.4ha).
Fishermans Bend’s employment precinct is about four kilometres south west of the CBD. Fishermans Bend residential
Mr Emmett said that from a residential real estate perspective, several developments have been completed in the Montague precinct, which is closest to the CBD.
“Several other major projects are in planning or underway with major investment from groups like Greystar, Gurner, Samma Properties, R.Corporation and Beulah,” he added.
“The Innovation Hub will act as an activity-centre-bookend to the CBD, providing additional purpose for the precinct’s redevelopment, which will be really important in attracting office and hotel development in additional to residential,” according to the executive.
Colleague Andrew Milligan said there are several major unsatisfied development site requirements in the precinct from residential developers seeking to create Build to Rent and build-to-sell product.
“To date, there haven’t been too many office development site requirements however, as the Innovation Hub evolves, we anticipate there will be strong demand for office development sites in the area,” he added.
Artist's impression of the ex-GMH site in 2050. The state government has committed an initial $179.4 million to develop the ex-General Motors Holden site as the Fishermans Bend Innovation Precinct. The Innovation Precinct (centre) occupies
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