Developers offered $60 million plus employment precinct site at Officer South

A 78 hectare former horse stud within the Officer South Employment PSP has just hit the market with $60 million plus price expectations. It borders the Clyde North and Officer growth precincts, set opposite Mirvac’s $1.5 billion Smiths Lane project which is set to deliver a new town centre along with 3,600 homes. "Some of Australia’s most noteworthy developers are undertaking major master planned communities within the area, including Mirvac, Stockland, Frasers, Dahua, Dennis Family and Satterley," Julian Heatherich, director, CBD and Metropolitan Sales at Savills Australia noted. “Once a predominately farming area, Cardinia & Casey is being transformed by major population growth, driven by young families looking to secure property in what is regarded as one of Victoria’s best growth locations. “Demand has seen record price growth in Lot sales in Officer and the surrounding growth areas of Clyde, Cranbourne and Pakenham” he said. Colin Tarlamis, Director, Industrial & Logistics of Savills Australia said the employment site is well-serviced by transport linkages with easy access from the site to the Princes Freeway. “With an on and off ramp currently under construction for the South Officer Road and Princes Freeway intersection, the site will enjoy easy connectivity to Melbourne’s arterial road network”. Offers close December 3. Benson Zhou, director, CBD and Metropolitan Sales of Savills Australia noted the current median house value in Officer is $709,960, representing a leap of 62% in five years. “The Officer, Clyde and Clyde North precincts are set for some of Melbourne’s most aggressive growth in population and development in the coming 20 years with an increase of 96,000 people and 48,000 new homes." The Officer South Employment precinct is located 45km southeast of Melbourne’s central business district within the municipality of Cardinia. The precinct covers about 1069 hectares, bound by Cardinia Creek to the west, the Princes Freeway to the north, Lower Gum Scrub Creek to the east and the Urban Growth Boundary to the south. The Victorian Planning Authority (VPA) is leading the preparation of a structure plan for the Officer South Employment Precinct, working in partnership with Cardinia Shire Council, State government agencies and service authorities to help determine the mix of large and heavy, light industry, mixed use, activity centre and residential. Its mixed use precincts are anticipated to see 4-6 storeys, adjacent to areas of high amenity with after hours recreational spaces. The housing diversity is set to include smaller town houses and apartments and affordable housing opportunities, with less car reliance in a 20-minute neighbourhood. After a draft plan has consensus with government agencies, the plan will be publicly exhibited for comment.