Amcor’s Alphington operations were relocated in March 2012 after which the property was deemed surplus to requirements.
The site of circa 16.46 hectares with a 279 metre frontage to the Yarra River and located only 7 kilometres from the Melbourne CBD has a development value “upon completion” of some $1 billion.
The vision for the site is to create a sustainable, masterplanned, mixed use neighbourhood and provides urban renewal on a scale not seen since Melbourne’s Docklands.
As due diligence and transaction adviser to Amcor, Charter worked in partnership with Colliers International to brief the market on the project hallmarks for this unique development site.
As part of our scope of works, Charter:
- reviewed all project documentation
- provided development advice
- conducted detailed financial analysis
- considered a number of divestment options
- managed the preparation of extensive environmental and other due diligence material
- assisted in the composition of the marketing collateral and legal documentation
- assisted the appointed marketing agent in the establishment of key commercial terms and negotiation metrics and strategy
- conducted transaction management services
BENEFITS TO AMCOR
Amcor benefited from Charter’s unparalleled commercial and technical property expertise during the transaction and works continue to assist the Client in achieving the desired result – a record price for a development site in Melbourne.