Merrifield Business Park Construction To Kick Off Soon
Published on the Urban Developer website, 10 September 2015. Click here to view.
Construction of the $1.2 billion Merrifield Business Park in Melbourne’s north will commence in the next three months.
Joint venture partners MAB Corporation and Gibson Property Corporation made the announcement at the sod turning ceremony yesterday as new figures revealed the development would generate up to $3.5 billion annually.
Upon completion, the 330 ha Merrifield Business Park will offer 1.2 million square metres of industrial and commercial floor space. The business park is part of the broader Merrifield project, pegged to be Victoria’s largest fully master-planned mixed-use community, and will provide the state with a significant economic boost.
An economic assessment of the project by Essential Economics revealed that Merrifield will deliver 25,000 direct jobs, while the business park alone will accommodate up to 20,000 indirect jobs once complete. An additional 2,700 direct jobs and up to 4,000 indirect jobs will be created during construction of the business park over the next 20 years.
Premier Daniel Andrews said the development of the largest business park in Victoria would provide the state with a significant economic boost.
“This business park upon completion will support over 30,000 jobs and that is great for Melbourne’s north and great for our state.”
DuluxGroup is the first company to announce a significant investment at Merrifield with the construction of a new state-of-the-art water-based paint factory on a 17ha site.
DuluxGroup will join a long list of major tenants in Melbourne’s north including OneSteel, Visy, Mainfreight, TNT, Toll Group and both Coles and Woolworths distribution centres.
Merrifield has received interest from businesses across a variety of sectors including food services, logistics and warehousing as well as white collar businesses as a result of the site’s flexible land use. Lot sizes range from 1 ha up to 50 ha and are located in a Comprehensive Development Zone, which is suitable for a range of commercial uses.
MAB Corporation Managing Director Andrew Buxton said Merrifield’s location is a major drawcard for businesses.
“Merrifield’s positioning near major transport infrastructure – chiefly the Hume Freeway servicing the east coast, Melbourne International airport, and Somerton Intermodal Terminal with access to the Port of Melbourne – will allow businesses to access local, regional and interstate markets 24/7,” said Mr Buxton.