Wednesday, July 25, 2012

Fishermans Bend 2, Symex sells

'Symex reaps $25m land sale'

'Soap manufacturer Symex Holdings has sold a huge parcel of land in Port Melbourne for $25 million. The land, at 14 Woodruff Street behind the Port Melbourne Football ground, is in the heart of the Fishermans Bend precinct that the state government wants to turn into a residential hub. Symex has made an unconditional contract to sell the site to a property investment group, but the deal is subject to a lease back of part of the site used by Symex until December 31 next year.' [Age Businessday p12]

The once proud administrative headquarters of Kitchens
Symex [formerly Kitchens] is the final remaining 'old' industry in Port Melbourne with a continuous history of manufacturing. More about that another time. What will it all mean for the Port Melbourne Football Club?
Another interesting article in today's Age [Businessday p12] talks about the implications of the release of such a large amount of industrial land - 240 hectares equating to 1.5 times the size of the Hoddle grid - all at once.

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