Description

Donnybrook Road, Mickleham was acquired in December 2006 and is a 320.2 hectare site in Melbourne's northern corridor adjacent to the Hume Highway, 33.2 kilometres north of the Melbourne CBD. The joint venture successfully secured a land rezoning in December 2008 from farmland to "Business 1 and 3" and the site is now suitable for industrial and employment uses and forms part of a designated future employment precinct within the Hume City Council Growth Area Plan.

Despite difficult market conditions, the joint venture successfully refinanced the senior debt facility for this property with Commonwealth Bank of Australia on 20 December 2011 for a three year term until 20 December 2014.

The joint venture has determined a new masterplan for the site which has appeared in the recently exhibited Corridor Plan. A rezoning application has been submitted to Hume City Council detailing approximately 60.0 hectares of  residential land.