Suburb Spotlight // Why You Should Invest in Melbourne’s Second City
Dandenong has long been considered “Melbourne’s Second City’ and is a major economic hub for the State of Victoria. Home to close to 1,000,000 people, Dandenong produces almost half of Victoria’s manufacturing output.
Dandenong’s CBD is also undergoing rapid growth and development as part of the Revitalising Central Dandenong initiative driven by the Victorian State Government in conjunction with Greater Dandenong Council. To date around $700 million has been invested to rejuvenate and re-establish Dandenong’s city centre as the capita of Melbourne’s growing South East region.
Key deliverables of the project include:
- Generating $1.2 billion in private sector investment
- Creating 5000 jobs
- Delivering 4000 homed
Since the projects inception:
- More than 1800 jobs have beeb created
- Dandenong is home to another 830 residents
- The project has attracted more than $700 million in private investment to date
- Nearly 40% of land has been developed, is under construction or contracted for development
Lonsdale Street is Dandenong’s major boulevard entering and exiting the CBD. As the city continues to grow and evolve it will be the immediate major thoroughfare’s like Lonsdale Street where the city will expand to. The portfolio provides the opportunity to acquire two (2) prime landholdings along this prominent boulevard.
There is no better time to invest in Melbourne’s second city!