Pace wins VRC 550 Epsom Road, Flemington residential redevelopment tender
Melbourne based developer, Pace Development Group, has been announced as the Victoria Racing Club’s preferred purchaser of its recently rezoned site at 550 Epsom Road, Flemington.
Pace was awarded the contract of sale for the 10,600 square-metre parcel of land at the famed Flemington Racecourse, following a competitive tender.
The land, which sits atop the racecourse’s 1,200 metre main straight known as the ‘Straight Six’, received approval for rezoning earlier this year under a planning scheme for 300 residential dwellings, and has undergone vigorous community consultation to ensure the future development protects the existing character and historic significance of the site.
VRC Chairman Amanda Elliott said Pace and the VRC have agreed to collaborate throughout the design process.
Shane Wilkinson, Managing Director of Pace Development Group, the design will be publicly revealed in early 2018.
The project’s first apartments are expected to be on the market from late 2018.
The sales campaign for the land was managed by Peter Bremner, Trent Hobart and Hamish Burgess from Colliers International and transaction management was handled by Peter Hutchins and Tom Byrnes from Charter Keck Cramer.
Epsom is a key development site sitting adjacent to the Flemington Racecourse and has been designated for high density residential development. The site is approximately 1ha in size and includes the heritage listed former Jockey’s Convalescent Lodge.
Greenland was a prior envisaged developer but did not proceed.
