as well as large scale urban renewal precincts.  Explore our interactive project map and see where our projects are located We create vibrant places to live and work across Victoria through diverse and strategic property development and urban renewal projects Our approach combines extensive development project management and urban renewal experience with strong relationships across government and industry technical capability and commercial thinking.With an emphasis on environmental sustainability our goal is to create vibrant places that enrich the local area – with diverse and affordable homes Join our team of experienced industry professionals and develop your capability in a diverse and collaborative workplace.    Development Victoria is progressing with plans to transform unused land in Knoxfield into a new community – close to jobs hospitals and schools.Acting Group Head Housing said preparation for the installation of the sales office is underway – which is a crucial step in the development's progress With strong interest in the project already prospective homeowners will soon be able to explore the diverse range of housing options that will be on offer Development Victoria respectfully acknowledges the Traditional Custodians of Country throughout Victoria We recognise their continuing cultural heritage and connection to land Yinga Biik Birranga-ga (Sing land and Country) Connect with us to stay up to date on the latest developments Construction works are nearly complete for two new wetlands in Knoxfield It is expected that the wetlands and upgraded carparks will be open to the public in April The new wetlands will enhance the parks by improving water quality and biodiversity as well as supporting recreational activities.  Works at Gilbert Park includes a new viewing deck when open visitors will be able to enjoy beautiful and elevated views The improvements to Gilbert Park cost $1.35 million and R.D Melbourne Water contributed $200,000 towards each project.  Community feedback from past community consultations helped shape the final designs for both wetland projects This included the addition of safety fencing and materials for viewing deck at Gilbert Park The overall community response was supportive for the wetland development The wetlands are key initiatives in the Gilbert Park Masterplan 2017/18 and R.D The masterplans guide future improvements works for the sites Most of the works have been completed since the Masterplan was endorsed it will be open for locals and visitors to enjoy Further information will be available in due course A community planting event will not be planned as initially communicated to provide quiet time for the newly planted vegetation and aquatic environment to get settled and established Construction of the new wetland at Gilbert Park Knoxfield Construction photo of the viewing deck at Gilbert Park Construction of the new wetland at Gilbert Park Development of the new wetland at Gilbert Park Knoxfield.  Firefighters from seven CFA brigades responded to a factory fire in Knoxfield this morning The fire broke out just after 8am this morning at a cardboard manufacturing facility on Ferntree Gully Road near Stud Road The fire was deemed under control at 9.25am a CFA ladder platform from Dandenong and two MFB appliances responded to the fire with firefighters requiring breathing apparatus to fight the fire District 13 Rostered Duty Officer Andrew Booth said it hadn't been a big fire but a complex situation due to access issues The fires had started in an extraction system 3-4 storeys up "The fireys have done a great job to contain it to one building and to the extraction system," Mr Booth said Firefighters had to ensure no smouldering materials had made their way into the piping system before the job was declared safe Ambulance Victoria attended to monitor the health of firefighters Factory staff self-evacuated as per fire safety procedures and were gathered at an assembly point when firefighters arrived knowing that we're not missing anyone," Mr Booth said View all stories View more contacts The Facebook feed is contained within an iframe and as such is not available via keyboard access. Please visit our Facebook page directly to view the latest feeds. The Instagram feed is contained within an iframe and as such is not available via keyboard access. Please visit our Instagram page directly to view the latest feeds. Tweets by CFA_Updates We are currently experiencing issues with our embedded Twitter feed We acknowledge Aboriginal and Torres Strait Islander people as the Traditional Custodians of the land Copyright 2025 CFA (Country Fire Authority) An unidentified buyer scooped up the 14,750sq m site at 3 Millennium Court at Knoxfield, 27km from the Melbourne CBD, for $22 million.  The off-market deal was brokered quickly by CBRE’s David Aiello and Sasan Misaghian, ending a long search by the buyer.  “Within 48 hours we had secured the unconditional offer from a local occupier who had been seeking a main-road freehold opportunity in Melbourne’s east for more than five years,” Misaghian said. The sale was 13 per cent above the listed book value of $19.4 million. The warehouse and office on the site have a total building area of 8089 square metres.  Opal Packaging occupies the site, which has a weighted average lease expiry of 1.7 years as of June of last year. The site has dual street frontages to Millennium Court and Ferntree Gully Service Road. The HomeCo Knoxfield shopping centre is opposite on Millennium Court. Growthpoint Properties Australia is an ASX-listed real estate investment trust (REIT) that had $6 billion under management as of June, 2024.  CNN and the BBC World Service which is copyright and cannot be reproduced AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time) A man has been arrested after heavily armed police swarmed a house on a usually quiet suburban street A segment of Anne Rd in the eastern Melbourne suburb of Knoxfield was closed off for several hours on Saturday as negotiations were reported to be underway between tactical police and someone inside a house Special Operations Group officers in camouflage carrying automatic weapons and bullet shields were seen in attendance A 52-year-old man was arrested at the home at about 2.30pm He allegedly pointed a firearm at a police officer in Box Hill on Friday while in an allegedly stolen black Honda The car had stopped at a red light before a police officer pulled up beside the Honda and got out The driver then allegedly pointed a firearm at the officer before fleeing the scene the 52-year-old was bitten by a dog and taken to hospital with non life-threatening injuries under police guard Armoured vehicles and canine units had surrounded the home on Saturday Major terror attack 'was just HOURS away' before it was foiled by the special forces and police:.. 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Knoxfield is now open for the community to explore and enjoy Improvements to Gilbert Park cost approximately $1.35 million with Melbourne Water contributing $200,000 towards the project Completed works include the development of a new wetland The new wetland will enhance the park by improving water quality and biodiversity as well as complementing recreational activities Visitors will be able to enjoy beautiful and elevated views of the park from the viewing deck Community feedback from past community consultations helped shape the final design for the wetland The wetland is a key initiative in the Gilbert Park Masterplan 2017/18 which was endorsed by Council in 2018 The masterplan guides future improvements works for the park Visit our Gilbert Park upgrades webpage for more information. Upgraded carpark at Gilbert Park, Knoxfield. Watch 1m 47sPolice said the vehicle that crashed was one of two cars stolen from an address in Knoxfield earlier in the night. We're creating a vibrant new neighbourhood in Knoxfield with diverse housing options and open recreational spaces for the community to enjoy We’ve been working hard on the next steps for this exciting project continuing with our commitment to delivering great outcomes for the community Following extensive master planning and community consultation we have now lodged permit applications with Knox City Council for the first stages of the residential subdivision and the proposed wetland The development of new wetlands will enhance the current habitat for fauna and provide an accessible and safe experience for the community The proposed wetlands design was also recommended to mitigate flooding and provide stormwater treatment to help improve the health of our waterways We are committed to delivering wetlands that will be good for the community and the environment and will protect and enhance the natural habitat including that of the endangered Blue-billed Duck The newsletter also looks at a recent site safety audit upgrade works as well as our consultants continually monitoring the various flora and fauna Download the newsletter and read it in full here Knox City Council has carried out a number of upgrades to transform Gilbert Park since 2020 Knox City Council has upgraded Gilbert Park These upgrades are key initiatives in the Gilbert Park Masterplan We have started construction on one of the last initiatives in the Masterplan The wetland will provide many community benefits viewing platform and carpark upgrade by late December 2024 Gilbert Park is located at the corner of Gilbert Park Drive (off Ferntree Gully Road) and Forbes Close in Knoxfield The park is accessible by bus on Ferntree Gully Road opposite the shopping centre or via bike paths Contact us and we will get back to you Or call our Customer Service team on 9298 8000. 1) 0ms;transition:fill 200ms cubic-bezier(0.4 1) 0ms;font-size:1.5rem;}.mui-13xs5pt{width:100vw;max-width:100vw;margin-top:1px;}.mui-68tkgc{width:100vw;max-width:100vw;margin-top:1px;}.mui-1i0sejk{min-width:200px;border-radius:4px;}.mui-o2bopd{text-align:center;-webkit-flex:0 0 auto;-ms-flex:0 0 auto;flex:0 0 auto;font-size:1.5rem;padding:8px;border-radius:50%;overflow:visible;color:rgba(0 0.54);-webkit-transition:background-color 150ms cubic-bezier(0.4 1) 0ms;transition:background-color 150ms cubic-bezier(0.4 1) 0ms;padding:12px;font-size:1.75rem;}.mui-o2bopd:hover{background-color:rgba(0 0.04);}@media (hover: none){.mui-o2bopd:hover{background-color:transparent;}}.mui-o2bopd.Mui-disabled{background-color:transparent;color:rgba(28 1) 0ms;padding:12px;font-size:1.75rem;}.mui-1cqrg4y::-moz-focus-inner{border-style:none;}.mui-1cqrg4y.Mui-disabled{pointer-events:none;cursor:default;}@media print{.mui-1cqrg4y{-webkit-print-color-adjust:exact;color-adjust:exact;}}.mui-1cqrg4y:hover{background-color:rgba(0 0.04);}@media (hover: none){.mui-1cqrg4y:hover{background-color:transparent;}}.mui-1cqrg4y.Mui-disabled{background-color:transparent;color:rgba(28 28,0.38);}.mui-16y1f2l{font-family:'__Roboto_22ceb1','__Roboto_Fallback_22ceb1';font-weight:500;font-size:0.875rem;line-height:1.75;text-transform:uppercase;min-width:64px;padding:6px 16px;border-radius:4px;-webkit-transition:background-color 250ms cubic-bezier(0.4 1) 0ms,border-color 250ms cubic-bezier(0.4 1) 0ms;transition:background-color 250ms cubic-bezier(0.4 28,0.38);box-shadow:none;background-color:rgba(29 one of Melbourne’s outer suburbs.\u003c/p\u003e\u003cp\u003eInfinity Constructions won the contract to build the 177-bed project with Connect Project Management overseeing the development.\u003c/p\u003e\u003cp\u003eAmenities will include a kitchen and a club floor overlooking the Dandenong Ranges and Waterford Valley Golf Course 2025\u0026nbsp;\u003c/p\u003e\u003cp\u003eInfinite Care has signed a 25-year lease with Australian Unity Healthcare Property Trust—which will continue to own the site and the facility—to operate the facility Australian Unity bought the property in July 2021.\u003c/p\u003e\u003cp\u003eThe trust is valued at $3.7 billion and the project is expected to cost $70 million.\u003c/p\u003e\u003cp\u003eIt will help provide the residents of Knoxfield much-needed options for retirement living according to Infinite Care managing director Tony Partridge.\u003c/p\u003e\u003cp\u003e“With many Knoxfield residents at retirement age and approaching their older years Cairns and New South Wales.\u003c/p\u003e\u003cp\u003eAustralian Unity was formed in 1840 and is a member-owned well-being company with 400,000 members and more than 700,000 customers.\u003c/p\u003e\u003cp\u003eLaunched in 1999 the trust’s portfolio includes 102 assets incuding hospitals Lendlease’s third residential building in the Collins Wharf precinct of Victoria Harbour.\u003c/p\u003e\u003cp\u003eThe 28-storey building at 971 Collins Street in Melbourne’s Docklands will deliver 312 homes in a mix of one two and three-bedroom apartments as well as townhouses and penthouses.\u003c/p\u003e\u003cp\u003eAccording to Lendlease the project has already secured more than 50 per cent in presales.\u003c/p\u003e\u003cp\u003eHickory is the construction contractor—it completed the precinct’s first development in 2019 and is also working on LendLease’s second tower Regatta.\u003c/p\u003e\u003cp\u003eFor Ancora Hickory is implementing several technical construction methods including various piling techniques and precast concrete solutions that enable a parallel-track construction program.\u003c/p\u003e\u003cp\u003eThe building’s facade designed by architect Warren and Mahoney uses a three-stage design incorporating double-glazed glass and textured precast concrete with Reckli and brick finishes.\u003c/p\u003e\u003cp\u003eThe structural design transitions from a solid podium base to lighter upper levels “reflecting a maritime theme” aligned with the Collins Wharf design objectives.\u003c/p\u003e\u003cp\u003eAncora will connect to the neighbouring Regatta development via a podium allowing resident access to shared amenities.\u003c/p\u003e\u003cp\u003eDesigned as an all-electric building that includes electric vehicle infrastructure the development is targeting a 5 Star Green Star certification Completion is expected in 2027.\u003c/p\u003e\u003cp\u003eRegatta including build-to-rent and build-to-sell units.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cp\u003eExtensive wharf works including remediation of pre-existing wharf piles installation of raker piles and construction of the extension to Australia Walk are also part of the project.\u003c/p\u003e\u003cp\u003eTechnical challenges include constructing on the finger wharf and co-ordinating extensive above-wharf road reserve and public parkland works.\u003c/p\u003e\u003cp\u003eThe Collins Wharf precinct will ultimately comprise six residential buildings of more than 1800 homes surrounded by over 5000sq m of parks and community space.\u003c/p\u003e\u003cp\u003eLendlease is developing the parkland concurrently with the residential components including the extension of Australian Walk that forms part of the City of Melbourne’s Greenline project.\u003c/p\u003e\u003cp\u003eLendlease executive director of development Adam Williams said Collins Wharf “is fast becoming a sought-after address .. which took just a handful of hours to emerge on Saturday night the Coalition’s failure to sway voters has come under intense scrutiny.\u003c/p\u003e\u003cp\u003eIts lack of policies around property that resonated with voters has been a large part of that criticism.\u003c/p\u003e\u003cp\u003eAmong those policies was a $5-billion infrastructure program to unlock up to 500,000 new homes was greeted with no small amount of scepticism.\u003c/p\u003e\u003cp\u003eThe Coalition also campaigned on its previously revealed plan to allow first home buyers to draw down on their superannuation giving access to up to $50,000 to help fund mortgage deposits.\u003c/p\u003e\u003cp\u003eWhile that proposal had won some support it got the thumbs down from many of Australia’s top economists who said the measure could prove highly inflationary among other issues.\u003c/p\u003e\u003cp\u003eSimilarly its plan to allow mortgage interest for first home buyers to be tax-deductible was roundly criticised for its likely inflationary and regressive effects.\u003c/p\u003e\u003cp\u003eIt has also been pointed out that the Coalition’s rejection of the Green’s policies around housing supply affordable housing and help for renters did it no favours.\u003c/p\u003e\u003cp\u003eThe ALP went to the polls spruiking an extension of schemes introduced during its previous term including a $10-billion promise for its first-home buyers’ scheme to encourage 100,000 more homes.\u0026nbsp;\u003c/p\u003e\u003cp\u003eIt also had its Help to Buy shared equity scheme under which the Government pays up to 40 per cent of the house price to point to.\u003c/p\u003e\u003cp\u003eIf it was these policies per se or the lack of detail and depth to the Coalition’s the nation's ready for the Albanese government to act.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\u003cp\u003eWhat is clear been endorsed to follow through on its policies and fix the crisis that is crippling the Australian property sector.\u003c/p\u003e\u003cp\u003eAs Urban Taskforce Australia chief executive\u0026nbsp;Tom\u0026nbsp;Forrest has pointed out it is time for the Federal Government to get back to work.\u003c/p\u003e\u003cp\u003e“Housing affordability and housing supply featured large during the campaign,” Forrest said.\u003c/p\u003e\u003cp\u003e“The key now is for the Government to strike while the iron’s hot.\u0026nbsp;\u003c/p\u003e\u003cp\u003e“If legislation is needed to support the delivery of Labor’s $10-billion 100,000 new homes commitment—then pass it through the parliament now and get on with it.”\u003c/p\u003e\u003cp\u003eThe states have made many changes to how they enable home development The Federal Government’s support of that is crucial to its success material supply assistance or any other factor that affects getting homes out of the ground.\u003c/p\u003e\u003cp\u003eThis has been a pivotal election Then Cities for Total Fan Immersion\",\"slug\":\"billionaire-arsenal-rams-denver-nuggets-sports-anchored-precincts\",\"datePublished\":\"2025-04-30T00:00+10:00\",\"tags\":[],\"summary\":\"Why your next home might be stadium-adjacent; sports are the hook Infinity Constructions won the contract to build the 177-bed project with Connect Project Management overseeing the development Infinite Care has signed a 25-year lease with Australian Unity Healthcare Property Trust—which will continue to own the site and the facility—to operate the facility The trust is valued at $3.7 billion and the project is expected to cost $70 million It will help provide the residents of Knoxfield much-needed options for retirement living according to Infinite Care managing director Tony Partridge “With many Knoxfield residents at retirement age and approaching their older years this home will provide the world-class care and resident experiences that Infinite Care is known for and improve thousands of lives in future years,” Partridge said Australian Unity healthcare property general manager Chris Smith said projects such as this allowed investors to invest in long-term infrastructure in return for long-term income The number of Victorians aged over 60 is tipped to nearly double to 2.3 million by 2046 Infinite Care operates facilities in South Australia Australian Unity was formed in 1840 and is a member-owned well-being company with 400,000 members and more than 700,000 customers rehabilitation units and radiology and pathology centres Knoxfield is 27km east of the Melbourne CBD Aged care has been tipped as one of the industry’s hottest sectors to watch in 2024 has sold a Masters-converted large format retail investment at Melbourne’s east Knoxfield for $45 million reflecting a five per cent fully let yield The 4.31 hectare property at 1464 Ferntree Gully Road is trading to Troon Property Group which in 2020 forged a partnership with financier MaxCap to invest in and develop product Carpet Call and Decathlon occupy parts of the four year old Stonebridge’s Justin Dowers and Kevin Tong brokered the off-market transaction Their deal comes six months since Troon and MaxCap sold SCA Property Group the modern Delacombe Town Centre for $112m reflecting a 5.34pc fully let return Also last year, the pair banked $12.4m from the Ballarat Lifestyle Centre, not far from there, and $27.75m from a Mont Albert office Masters ceased trading at 1464 Ferntree Gully Rd in 2016 after which time the asset was acquired by HMC as part of a portfolio and repurposed into a HomeCo shopping centre The property previously traded between HMC divisions for $28m in 2020 “The sale highlights the strong fundamentals and performance of the large format sector which has seen a resurgence as a result of the pandemic,” Mr Dowers said (story continues below) “Large format retail assets have witnessed a resurgence in the past 18 months both from a retailer performance and investment demand perspective,” he added “LFR assets benefited from a series of compounding positive attributes including their high degree of convenience/parking and limited enclosed spaces and recent zoning changes allowing a diverse range of additional convenience ‘daily needs’ and essential services customers,” according to the executive “Whilst industrial investment has usurped almost all other commercial sectors being the closest in configuration and simplicity to industrial “With prime industrial yields now well below four per cent building attributes and yield arbitrage have all put the savvy industrial investor on high alert,” Mr Tong said “There has been a strong uplift in sales performance in key LFR categories,” he added “The inability to travel overseas has seen people put that money into their homes which is why a number of LFR categories are outperforming at the moment,” according to the executive “The underlying 4.3ha of industrial zoned land has increased in value significantly over the last few years which has no doubt made this investment a lot more attractive” Subscribe to our newsletter at the bottom of this page A former property analyst and print journalist Marc is the publisher of realestatesource.com.au Forgot your password? You will receive mail with link to set new password Back to login We are creating a vibrant new neighbourhood in Knoxfield with diverse housing and open recreational spaces for the community to enjoy.  This includes approximately 416 townhouses all with off street carparking as well as a commitment to delivering 10% affordable housing A lot has been happening since our last update which you can read in our Spring newsletter We have submitted additional planning permit applications with Knox City Council which includes a left in left out road onto Burwood Highway and three further stages for the residential subdivision We also participated in the Knox City Council Planning Consultative Committee meeting Important interim repair and maintenance works to the existing dam which commenced in August are now complete These works had to be completed to reduce safety risks which included the possibility of flooding Geotechincal investigations were also completed across the site Our commitment to sustainability   All homes will be fully electric and include a range of sustainable inclusions as standard such as solar PV systems and double glazing This ensures they’re water efficient cost efficient to run and better for the environment Download and read the full update here Development Victoria is pleased to share its proposed five-stage plan to construct the new wetlands at the Knoxfield site The draft plan was released as part of the Autumn Newsletter and details how Development Victoria will replace the unsafe artificial dam currently on the site with a vibrant new wetland system Development Victoria have been working with a team of experts to develop the design for the new wetland The wetland will be developed by a five-stage construction process providing continual access to a waterbody for wildlife currently using the existing dam A detailed plan of the proposed staged construction approach has been developed Development Victoria is seeking feedback on the proposed wetland approach. If you would like to contribute visit development.vic.gov.au/knoxfield We will continue to attend the site to monitor the behaviour of the duckling and ensure there are no works being undertaken onsite which could impact any potential duck breeding Recent sightings of two new Blue-billed Duck families at Development Victoria’s Knoxfield site reinforces the need to replace the existing dam with a vibrant new wetlands system to ensure a safe breeding environment for these birds and other species The ducklings’ presence was reported by the community last month and confirmed by ecologists working on behalf of Development Victoria who continue to actively monitor their progress This is the second time since the Knoxfield development was announced and formal monitoring commenced where there has been evidence of the ducks breeding at the existing dam on site Development Victoria’s Group Head of Property Development Penny Forrest said the ecologists are actively monitoring the ducks and no works are planned which could impact any potential breeding “We plan to undertake a staged construction of the new wetlands to ensure these works don’t impact the ducks and other species – especially during their breeding season,” Ms Forrest said We want to give the Blue-billed Duck and other species the best opportunity to thrive on site The new wetlands has been designed by a team of expert consultants with the aim of providing improved safe breeding habitat for the ducks and other species - and also to be enjoyed by the local community man-made dam that is currently on site and result in a better overall environmental outcome and improve the health of local waterways “Our priority is to create a wetlands environment that will support future populations of wetland birds – including the Blue-billed Duck – and is a place where they can thrive,” Ms Forrest said “Once the new Knoxfield wetlands are complete we want to see the population of wetland bird species in the area continue to grow.” Visit the Knoxfield project page for more information about this project The draft masterplan will help shape a vibrant new neighbourhood with a diverse range of housing an improved wetland and generous public open space Australian Unity Healthcare Trust has bought into a Knoxfield aged care complex It has also signed a long lease – expiring in 2048 The Bunjil Road site previously traded three years ago for $11.825m Knoxfield is 33 kilometres south east of Melbourne “Australia’s aged care sector will provide increasingly attractive real estate opportunities for investors in the Healthcare Property Trust,” general manager is at the due diligence stage of negotiation Major Collision Investigation Unit detectives are appealing for witnesses after a motorbike rider came off his motorbike in Knoxfield on Thursday 14 December Emergency services were called to the scene at Ferntree Gully Road about 7.20am It is understood a 65-year-old Ferntree Gully man was transported by road to The Alfred Hospital in a serious condition with an upper body injury The exact circumstances around the incident are unclear It is believed that a large white SUV was travelling in the vicinity of the rider before the accident Investigators are urging the driver of that vehicle to come forward as they believe they can assist with their enquiries has dashcam/CCTV footage or information is urged to contact Crime Stoppers on 1800 333 000 or make a report online at crimestoppersvic.com,au 22 Lakewood Drive, Knoxfield A KNOXFIELD property has proved the appeal of a popular estate as four bidders pushed it past $900,000 at auction Barry Plant Wantirna sales manager Brett Smith said the home at 22 Lakewood Drive attracted a variety of buyers as it went under the hammer and it came down to two that were really competing,” Mr Smith said He said the property soon passed its reserve price of $850,000 and sold for $915,000 A buyer looking to downsize was bested by a young couple “They grew up in the area and wanted to stay nearby,” he said Mr Smith said investors and first-home buyers had also shown interest in the property A covered deck and immaculate garden feature in the property’s outdoor areas The single-level house has three bedrooms plus a study a bright kitchen and family area and a covered deck Mr Smith said two earlier sales in the Lakewood Estate — including the $1.512 million sale of a luxurious home at 66 Applewood Drive in March — had lifted values across various property types in the estate “We’ve been seeing great results in that area,” he said “We set two records in that estate in previous months above $1.5 million and in setting those big results in it has lifted the lower end instead of being $700,000-$800,000 is now $800,000-$900,000.” Mr Smith said the estate had been attracting growing interest from buyers “I think Lakewood has always been a bit of a hidden gem,” he said “The location with the schools and Knox City close by is great and it seems to have been reaching more of its potential.” Proximity to St Andrews Christian College had also helped drive demand for the pocket SEE SUBURB PROFILE: KNOXFIELD hannah.scholte@news.com.au third parties have written and supplied the content and we are not responsible for it completeness or reliability of the information nor do we accept any liability or responsibility arising in any way from omissions or errors contained in the content We do not recommend sponsored lenders or loan products and we cannot introduce you to sponsored lenders We strongly recommend that you obtain independent advice before you act on the content realestate.com.au is owned and operated by ASX-listed REA Group Ltd (REA:ASX) © REA Group Ltd. By accessing or using our platform, you agree to our Terms of Use. Dexus has sold two more properties picked up as part of its APN takeover in 2021 were picked up by Arrow Capital Partners for $22.95 million reflecting a 4.8 per cent net passing yield While the result was a $2.1m discount to the December book values – it was a premium on the ($19.3m) price APN paid in May for the trust now known as the Dexus Industria REIT (DXI) The divestments come nearly a fortnight since Dexus banked $66.9m for neighbouring warehouses in Stapylton Last November meanwhile, the manager sold a pair of offices in Sydney’s Rhodes – 1A and 1C Homebush Drive – to Frasers Property Australia for $160.5m “This [Knoxfield] divestment brings total sales throughout FY23 to approximately $250m as we continue to actively position DXI to take advantage of future investment opportunities,” DXI fund manager “The proceeds from these sales will initially be utilised to repay debt reducing look-through gearing by approximately one percentage point,” he added the Knoxfield warehouses contain 12,674 square metres leased for over 10 years to SJ Display Group The agents said the rent – $87 per sqm per annum – is well below the market rate and can be increased upon lease expiry in just under three years Alternatively – with improvements covering just 53pc of the 2.4 hectare block – buildings may be extended (story continues below) The assets could also be sold down separately Being in a market with low supply – industrial vacancy is less than a per cent – the property could be considered for multi-level warehouses too It is also two kilometres from Westfield Knox City Cushman & Wakefield’s Adrian Rowse and Chris Jones with JLL’s Ben Hegerty and Jack Kelliher were the agents The assets were part of a portfolio offered earlier this year; the other is also in Melbourne The bulk of the portfolio – over 85pc – is industrial product The Weighted Average Lease Expiry is about six years but we don't want to lose you.\"}],[\"$\",\"div\",null,{\"className\":\"notfound-page__text-block\",\"children\":\"We recently updated the way we organise our articles 'div-gpt-ad-1511396693346-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/728x90_Leaderboard_Position_1' 'div-gpt-ad-1511394032333-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/970x90_bottom_leaderboard' 'div-gpt-ad-1511396722471-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/728x90_Hompage_Leaderboard_Position_1' 'div-gpt-ad-1661741627089-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/undefinedTUD_Homepage_Internal_728x90' 'div-gpt-ad-1534480172990-0').addService(googletag.pubads());\n // home leaderboard (mobile)\n googletag.defineSlot('/34178149/970x90_top_leaderboard' 'div-gpt-ad-1511397345189-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/728x90_Leaderboard_Position_1' 'div-gpt-ad-1511397440293-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/970x90_bottom_leaderboard' 'div-gpt-ad-1511397726219-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/TUD_Homepage_Internal_728x90' 'div-gpt-ad-1664889583870-0').addService(googletag.pubads());\n // article leaderboard (mobile)\n googletag.defineSlot('/34178149/970x90_top_leaderboard' 'div-gpt-ad-1511489394358-0').addService(googletag.pubads());\n // skycraper\n var homeSkyscaper = googletag.defineSlot('/34178149/300x600_homepage_Skyscraper' 'div-gpt-ad-1511394913790-0').addService(googletag.pubads());\n var homeSkyscaperTwo = googletag.defineSlot('/34178149/300x600_2nd_homepage_skyscraper' 'div-gpt-ad-1511938125244-0').addService(googletag.pubads());\n // medium rectangle\n googletag.defineSlot('/34178149/300x250_LHS_MREC' 'div-gpt-ad-1511395165249-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/300x250_Middle_MREC' 'div-gpt-ad-1511395202314-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/300x250_RHS_MREC' 'div-gpt-ad-1511395237641-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/300x250_Mobile_Middle_MREC' 'div-gpt-ad-1511489982092-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/300x600_2nd_homepage_skyscraper' 'div-gpt-ad-1511938773649-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/728x90_leaderboard_position_2' 'div-gpt-ad-1510792120057-0').addService(googletag.pubads());\n googletag.defineSlot('/34178149/300x250_Article-page_Position01' initial-scale=1\"}],[\"$\",\"meta\",\"1\",{\"charSet\":\"utf-8\"}],[\"$\",\"title\",\"2\",{\"children\":\"Arrow Capital Snaps Up Dexus Victorian Industrial Assets | The Urban Developer\"}],[\"$\",\"meta\",\"3\",{\"name\":\"description\",\"content\":\"With tenant demand in the eastern growth corridor surging for industrial assets who paid $22,92 million for the facilities at 3 and 4 Forbes Close in Knoxfield 27km east of the Melbourne CBD.\u003c/p\u003e\u003cp dir=\"auto\"\u003eThe sale means hands Arrow 12,674sq m of industrial space across the two facilities on a 2.4ha site.\u003c/p\u003e\u003cp dir=\"auto\"\u003eThe facilities comes with a weighted average lease expiry of 2.5 years and are fully leased.\u0026nbsp;\u003c/p\u003e\u003cp dir=\"auto\"\u003eChris Jones Adrian Rowse and Charlie Holmes of Cushman \u0026amp; Wakefield negotiated the deal with Ben Hegerty and Jack Kelliher of JLL Dexus\u0026nbsp; \u003ca data-mce-href=\"https://www.theurbandeveloper.com/articles/dexus-axxess-corporate-park-mount-waverley-melbourne-sale\" href=\"https://www.theurbandeveloper.com/articles/dexus-axxess-corporate-park-mount-waverley-melbourne-sale\" target=\"_blank\" rel=\"noopener\"\u003erecently sold the Axxess Corporate Park in Victoria's Mount Waverley for $306 million\u003c/a\u003e and an office building in Sydney’s St Leonards for $118.3 million Both were sold to Gateway Capital.\u003c/p\u003e\u003cp dir=\"auto\"\u003eDexus also sold\u003ca data-mce-href=\"https://www.theurbandeveloper.com/articles/dexus-central-coast-retail-centre-sold\" href=\"https://www.theurbandeveloper.com/articles/dexus-central-coast-retail-centre-sold\" target=\"_blank\" rel=\"noopener\"\u003e\u0026nbsp;a Central Coast retail centre for $111 million\u003c/a\u003e.\u003c/p\u003e\u003cp dir=\"auto\"\u003ePrior to that sale \u003ca data-mce-href=\"https://www.theurbandeveloper.com/articles/dexus-sub-regional-retail-centre-sales-central-coast\" href=\"https://www.theurbandeveloper.com/articles/dexus-sub-regional-retail-centre-sales-central-coast\" target=\"_blank\" rel=\"noopener\"\u003eit sold three retail and shopping centres in the last quarter of 2022\u003c/a\u003e The assets were acquired by Arrow Capital Partners The sale means hands Arrow 12,674sq m of industrial space across the two facilities on a 2.4ha site The facilities comes with a weighted average lease expiry of 2.5 years and are fully leased Adrian Rowse and Charlie Holmes of Cushman & Wakefield negotiated the deal with Ben Hegerty and Jack Kelliher of JLL The eastern growth has vacancy levels of less than 1 per cent thanks to great demand for industrial assets and sites in the area This leaves Arrow in a good position for yields from the assets while Dexus continues divesting assets To that end, Dexus  recently sold the Axxess Corporate Park in Victoria's Mount Waverley for $306 million and an office building in Sydney’s St Leonards for $118.3 million Dexus also sold a Central Coast retail centre for $111 million Prior to that sale, it sold three retail and shopping centres in the last quarter of 2022 as it opted to get out of the retail sector Dexus has divested itself of $1.5 billion in assets over the 2023 financial year with sale proceeds for the month prior to the Knoxfield sale hitting $700 million Moody’s Investor Services predicted in May that industrial values would drop by 5 per cent Meanwhile, Dexus’ property assets lost around $1 billion in value Global discount sporting retailer Decathlon has opened its first Melbourne store at the Home Consortium complex at 1464 Ferntree Gully Road, Knoxfield The opening comes a year after Decathlon established its first Australian store Described as “the Ikea of sporting goods” the retailer stocks products related to more than 70 recreational activities Decathlon plans to trade from five Victorian sites by 2020 Late last week Decathlon opened a 3800 square metre outlet within another Home Consortium redevelopment in Box Hill South about 14 kilometres east of the Melbourne CBD “Decathlon is the world’s biggest sporting good retailer, with more than 1400 stores in more than 40 countries,” Colliers International leasing manager Daniel Noonan “Decathlon focuses on quality at competitive prices aiming to make sport accessible to as many people as possible Products are reviewed online by customers and their star ratings displayed alongside the item in-store” Decathlon Australia chief executive officer added “we are extremely pleased to be expanding our presence across Australia Building on the success of our website and our first store in Tempe we want to maintain the momentum by opening further stores across Australia” “The people of Australia have embraced our brand and we are excited by this” Several other international and interstate brands have opened or are planning to open Melbourne outlets soon Yesterday, we reported East Perth-based high-end furniture retailer James Said has leased the historic Armadale Picture Theatre a building until recently occupied by failed auction house Last week we reported that New Zealand retailer Stoke Fireplace Studio leased a showroom in Fairfield as it prepares to enter the Australian market Australia’s first Tiffany pop-up store opened within Melbourne’s Emporium complex last month, as we reported, here Things are escalating in the Knox community, as locals are standing their ground against the proposed social housing development designated for Knoxfield. Development Victoria will now have to face the Victoria Civil and Administrative Tribunal (VCAT) on their proposed plans for the space, and take on the pressure from the community not to go ahead. Ray Pearce, a historian with the Knox Historical Association, said there’s a lot more history to the Knoxfield site than most locals realise, with parts of the lake itself dating back to the 1870s. “The original lake area is still there and goes back 150 years, which remains part of ‘Lake Knox’ as we know it today,” he said. He said the lake, as it now stands, was excavated at a slightly different level to the original part that still remains from the late 1800s. Mr Pearce said the lake and surrounding land has a rich history in the Knox community, and should be left as it is. “I had a friend who worked on the horticultural station in the 1970s and 80s, who said they dumped nasty chemicals in the lake,” he said. In the past half-century, the area surrounding Knoxfield has seen increased developments erected, with locals now wanting to hold onto this piece of history and greenery. Mr Pearce said they have had a lot of information that has arisen in the previous months about the Knoxfield site, including the revival of documents and development plans from over the years, detailing the lifeline of the lake. He said that developing that site is not only destroying a piece of valuable wetland, it’s also destroying a piece of rich local history. “We need housing, there’s no doubt about that, but we also need open space and trees. “You can’t have both, only one without the other,” he said, He said the Knox municipality has lost significant amounts of its original arboreal coverage, and the community desperately needs to keep all of the greenery it can. His comments were mimicked by Knox Environmental Society’s (KES) Anthony Bigelow who said the lake holds many qualities for the community alongside its rich history. “The lake is home to a number of endangered birds, plants and wildlife, and is known as an “animal refuge”. “We have the blue-billed duck, and black swans, to name a couple of species who reside at the lake and need our help,” he said. Due to the land currently being fenced off and clear from development, several species reside in Knoxfield lake as a safe-haven away from animals, people and potential threats. At the time of visiting the lake, Mr Bigelow said there were black swans currently nesting in the lake, and hoped to see cygnets in the near future. “Currently there is no access to the lake, making it safer for birds to find peace and make a home in the lake. “The site is also a well-known flood plain, so when it rains the land is subject to flooding, and not ideal for housing developments. “If the site were to be developed on, it may take years for wildlife to return to the area, and it’s hard to say where they can go,” he said. The water of the lake, which Mr Bigelow described as “clean” from toxins and chemicals that come with developments, is home to around 90 different animal species, and 60 bird species. “What people don’t always see is the ecosystem working to support the wildlife in that area. “The lake is home to micro vertebrates and invertebrates, and other plants and wildlife that support the overall environment of the area,” he said. The proposed development for Knoxfield by Development Victoria is being argued it will create a ‘vibrant new neighbourhood in Knoxfield’ with ‘diverse housing and open recreational spaces for the community to enjoy, as well as thriving new wetlands’. However, City of Knox mayor Cr Marcia Timmers-Leitch said in December last year, Council refused to grant permits for their proposed 105-lot residential subdivision and construction of wetlands at the corner of Burwood Highway and Scoresby Road. This included the removal of a dam, often referred to as Lake Knox, after the new wetlands were established. Council received more than 1170 objections in total to the proposals. “Council’s grounds for refusal included the impact of the proposal on a site of biological significance, including impacts on the vulnerable Blue-billed Duck. “Other grounds included the proposed extensive removal of native vegetation, failing to provide an appropriate interface to Scoresby Road and the extent of the residential subdivision encroaching into a designated Mixed Use area,” said Cr Timmers-Leitch. Development Victoria is now appealing Council’s refusal to grant two planning permits for their proposed development in Knoxfield, which is scheduled to be heard by the Victorian Civil Administrative Tribunal (VCAT) later next month. Mr Bigelow said KES desperately needs the help of the community to protect the land from development, as they go up against Development Victoria and the Victorian Premier, David Andrews, at VCAT. A report by Professor Paul Boon, a wetland ecologist brought in to investigate the values of Knoxfield lake, shared his concerns with the site becoming a development, and the risk of livelihood for species like the endangered Blue-billed Duck. “I have serious concerns with the likelihood with which suitable high-quality replacement habitat can be replicated in the new lake/wetland complex,” he said. Mr Bigelow said this report, among others, will be presented at VCAT. “Government just hasn’t been listening to our concerns, and we need to stand against the development together,” he said. KES has seen over 27,000 signatures on their petition “Save Lake Knox” and have also started fundraising to pay for legal fees as they approach the start of the VCAT hearing. “We need to raise $120,000 by September to cover legal fees, expert reports, and other documents to help our case in keeping Lake Knox. “It’s a big fight that needs to be fought, because no one else is fighting it,” he said. Development Victoria were approached for comment on the matter, however were unable to make comments at the time of contact, while the case is with VCAT. The hearing at VCAT will begin on Monday 28, August, and is expected to run for 11 days. Locals wishing to get behind the cause can sign the petition on change.org or make a donation on chuffed.org/project/helpsavelakeknox Knoxfield can expect some big changes on the horizon for local sports. A motion has passed at the recent Knox City Council meeting of Monday 28 August for the installation of a synthetic sporting surface at R.D Egan Lee Reserve. The movement was originally presented in Council by Cr Lisa Cooper in 2015 when she first came to council, after engaging with its main stakeholders, including the Knox City Football Club, and the Knoxfield Scouts. Since then, she has advocated for the community to have a master plan endorsed by council, which came about in 2018, including the installation of a synthetic sports surface. She said the recent decision to approve the tender has been eight and a half years of work, before the community could see the plan come into fruition. “The clubs were nervous about this decision tonight,” she said when presenting the tender to the council. The tender requested Knox City Council to approve the allocation of an additional $910,000 from property proceeds to the Egan Lee Reserve Sportsfield Redevelopment project towards the synthetic sports surface, alongside works to the natural pitch and lighting improvements. Cr Cooper said she was “proud” to be bringing this proposal to council on behalf of the Knoxfield community. Discussion about the works brought up a number of concerns and positives, including the environmental impacts, usage by the community, and other costs that required allocation by council. Cr Laukins, while acknowledging the work gone into the tender over the previous eight years, said synthetic surfaces can have a negative impact on the climate, and it would be important for council to balance that out. “The idea to plant 200 trees in the area will help offset the ‘heat island effect’. “As a council we need to be offsetting these decisions as much as we can,” she said. On the opposing side, Cr Dwight said she couldn’t agree with the cost allocation when there are other costs in council that have had to be cut due to budget concerns. However, Cr Pearce pointed council’s attention back to the value going back to the community, that went beyond the dollar sign. “It’s not just the dollar cost of the project, but the value that the community will take from the space. “The synthetic surface will provide up to 75 hours of use per week, where a natural surface only provides up to 25 hours per week, showing an increase of 200%. “We have a chronic capacity shortage in Knox, and we have to get maximum usage out of the space,” he said. Finally, Cr Timmers-Leitch acknowledged that the environmental outcome was her concern, however noted that the infill on top of pitch, while usually is rubber, was proposed to be of an organic substance, and slightly better for the environment. Installing the synthetic surface at the park will provide safe and consistent playing conditions all year round, be low maintenance and durable, adapt the sporting reserve to climatic conditions and encourage community participation in sport. Knox City Football Club (KCFC) president Dave Merry, who’s club would be one of the biggest beneficiaries of the new pitch, said it would work wonders for club morale. “In recent years, we could have around 32 teams at KCFC playing at Egan Lee Reserve and other additional venues across the municipality, which meant the kids not playing home games didn’t have much affiliation with the club, or the culture we have here. “Unfortunately, we lost a bunch of people from the club to other clubs in the area where they could be part of the culture,” he said. Mr Merry said the demographic in Knox has changed in recent years, bringing in more young families and kids wanting to play soccer, and there’s been more of a push to get females into the sport. “Our bottle neck now is how can we dilute costs and allow for the club to facilitate more members. “We’ve done up the bathrooms and changing rooms to make them more female friendly – there’s still room for improvement, but they’re better than they were,” he said. Over the years, the greatest issue being faced by KCFC is pitch allocation and training space. “In wet weather the current fields would almost be gone in the mud, and parents don’t really want their kids playing in the mud and coming home all dirty. “The upgrade would allow our teams to train and play during any weather conditions, and would also put us on par with Croydon and Moorabbin who have had their pitches upgraded, so we can attract more players from in and around the area,” he said. The upgraded pitch would allow players to train safely regardless of weather, and would give KCFC the opportunity to recruit at least 50-80 new players into the club. Not only would the synthetic grounds be greatly beneficial to KCFC, the wider community and other sporting disciplines in Knox would have use of the pitch, including Knox Park Primary School. The tender passed at the Knox City Council meeting of 28 August 2023 almost unanimously. will be"])self.__next_f.push([1," fully funded by debt The properties have a weighted average lease expiry of 6.8 years.\u003c/p\u003e\u003cp\u003eGrowthpoint Properties Australia Managing Director Timothy Collyer said: \u0026quot;Growthpoint is pleased to expand its industrial property portfolio with these modern warehouse property assets being well located in the tightly held suburb of Knoxfield.\u0026quot;\u003c!-- --\u003e\u0026quot;Growthpoint continues to look for acquisitions like this which enhance distributions and the property portfolio.\u0026quot;\u003c!-- --\u003e[urbanRelatedPost][/urbanRelatedPost]\u003c!-- --\u003eThe first property at 1500 Ferntree Gully Road and 8 Henderson Road Knoxfield was purchased for $36.55 million The site has a land area of 40,844sqm and a lettable area of 22,009sqm and features a modern office and warehouse facility  The major tenants are Brown and Watson International and PFD Food Services.\u003c/p\u003e\u003cp\u003eThe second property at 6 Kingston Park Court Knoxfield was purchased for $11.11 million  The site has a land area of 12,795sqm and a lettable area of 7,645sqm and features a modern office and warehouse facility The major tenant is NGK Spark Plug.\u003c/p\u003e\u003cp\u003eThe third property is at 3 Millennium Court Knoxfield and was purchased for $9.25 million The site has a land area of 14,750sqm and a net lettable area of 8,040sqm opinions and insights into the best of urban development from Australia and around the world \\\"\",\"enabled\":true,\"userStatus\":\"CONFIRMED\"}]},\"listings\":[],\"topStories\":[{\"id\":\"4ytaLAgWE4HdhpktD14uw1\",\"articleName\":\"Nightingale Founder’s Bid for Affordable Architectural Kit Homes\",\"slug\":\"breathe-architecture-featherweight-homes-boyd-merchant-builders\",\"datePublished\":\"2025-05-05T00:00+10:00\",\"tags\":[],\"summary\":\"Jeremy McLeod is leaning into the past for a smarter housing future The properties have a weighted average lease expiry of 6.8 years Growthpoint Properties Australia Managing Director Timothy Collyer said: "Growthpoint is pleased to expand its industrial property portfolio with these modern warehouse property assets being well located in the tightly held suburb of Knoxfield.""Growthpoint continues to look for acquisitions like this which enhance distributions and the property portfolio."[urbanRelatedPost][/urbanRelatedPost]The first property at 1500 Ferntree Gully Road and 8 Henderson Road  The major tenants are Brown and Watson International and PFD Food Services The second property at 6 Kingston Park Court The third property is at 3 Millennium Court JLL's Matt Ellis and Andrew O'Connell negotiated the sale Development Victoria has shared a draft plan for the construction of controversial new wetlands set to replace the habitat for a vulnerable species of duck which will be available for community feedback The plans detail the five-stage plan to replace the artificial dam at the “Lake Knox” site over a period of three to four years Development Victoria said their ecologists will monitor the works to safeguard existing wildlife and habitat and the planned staged construction will mean the current dam will exist until the new wetlands are completed Development Victoria’s Group head of Property Development Penny Frost said the Victorian Government’s development arm has committed to constructing the wetlands in a staged manner and providing access to the water body for wildlife currently using the existing dam as habitat “Ecological monitoring will take place throughout the staged construction process and once the new Development Victoria said the first stage will consist of constructing and establishing a new wetland and drainage connected to Blind Creek followed by at least 12 months of ecological monitoring to assess the progress of the establishment of the habitat The development of the site has proved controversial with community and conservation groups with the discovery of several hatchings of the vulnerable blue-billed ducks While Development Victoria argues the new wetlands being constructed will result in better environmental outcomes for the species opposition to the plans have raised concerns over the ability to produce the promised results A community-funded report by Professor Paul Boon stated several issues with the plans including that claims of guaranteed ecological success “are inconsistent with scientific literature,” “doubts over Development Victoria’s capacity to deliver high-quality replacement aquatic habitat,” and the plan containing questionable assertions about Lake Knox and its development Ferntree Gully MP Nick Wakeling said he hoped the Victorian State Government would follow the opposition’s lead on saving Lake Knox from development “We’ve already announced that we work with the community to save it form an advisory committee and work through those issues today.” he said Mr Wakeling detailed a three-point plan to save Lake Knox in late March which consisted of “saving lake Knox from being bulldozed,” establishing an advisory group including local representation on the future of the site and considering designating Lake Knox as a sanctuary Community feedback on the draft plan can be given at www.development.vic.gov.au/projects/knoxfield?page=overview