Melbourne, October 2024 – Aurora Southern Town Centre in Melbourne’s northern growth suburb of Epping is being offered to market, providing developers with a rare opportunity to acquire a major 14.1 hectare* mixed-use development opportunity. Stonebridge’s Justin Dowers, Julian White and Chao Zhang have been appointed to sell Aurora Southern Town Centre on behalf of Development Victoria via an Expressions of Interest campaign.
Aurora Southern Town Centre comprises two lots split by Edgars Road in Epping, approximately 26 kilometres north of the Melbourne CBD. Totalling 14.1 hectares, the Aurora Southern Town Centre is proposed to include high density residential, major retail, commercial and mixed-use development across the two lots.# The public transport corridor is expected to be located on Lot N of the Aurora Southern Town Centre and is anticipated to increase future connectivity to the Aurora Southern Town Centre.
The Town Centre services a large Main Trade Area (MTA) of 45,260 persons* which is projected to increase to 60,980 persons* by 2041 (1.8% p.a. growth).^ The growing population is expected to result in 4.2% p.a.* retail expenditure growth in the MTA to 2041 continually increasing the demand for new retail, commercial and mixed-use development.^
Mr Dowers said Epping has undergone immense population growth over the last 10+ years with the MTA population increasing 10.7% p.a.* between 2011 and 2021. The growing population of the area as a result of new residential developments such as Aurora Epping and Aurora Habitas means this is an excellent opportunity to deliver much needed business developments in the area.
Mr White said “Town centre offerings of this scale are exceptionally rare with only 2 major town centres over 14 hectares transacting in Victoria in the last 5 years. Aurora Southern Town Centre is exceptionally well positioned at the core of numerous housing estates, benefitting from a significant and growing MTA with a large worker population to the south. It also benefits from having no further Public Open Space contributions payable.”
The Aurora Southern Town Centre benefits from having Edgars Road constructed with no Public Open Space contributions and Cultural Heritage Management Plan approved with a report undertaken.
The Expressions of Interest campaign for Aurora Southern Town Centre closes Friday 29th November 2024 at 12:00pm (AEDT).
*Approximately
#Aurora Development Plan: Part 2
^Location IQ, 2024
