Range of ownership opportunities on offer at Bakery Hill
Opportunities for a range of ownership will be considered as part of the City of Ballarat’s expression of interest for commercial development proposals at 5 Peel Street South in the Ballarat CBD.
The Council-owned land is expected to act as a catalyst for private development in the area and progress key development, in turn bringing the Bakery Hill and Bridge Mall Urban Renewal Plan to life.
The City of Ballarat is looking forward to seeing what the market can offer the city in terms of first-class development, building use and ownership models.
Opportunities within the Expression of Interest include commercial ventures such as mixed use, retail, office, business, entertainment and/or accommodation.
It also incorporates a mixture of housing, including affordable and social housing, which will allow developers to leverage the State Government’s Big Housing Build fund.
The aim for this area is to support an inner-city population, with more people living, visiting and working in the Bakery Hill precinct.
The City of Ballarat’s urban renewal plan sets a 30-year vision for the redevelopment of the core CBD area of Ballarat.
City of Ballarat Mayor, Cr Daniel Moloney said there were many redevelopment opportunities in the Ballarat CBD and Council was playing a key role in this stimulation.
“The Bakery Hill and Bridge Mall Urban Renewal Plan is the first step in an ongoing process to revitalise Peel Street and progressively restore Bakery Hill as a thriving economic centre and gateway to Ballarat.
“When it comes to stimulating the Peel Street South site, we are excited to see exemplars for architectural design, environmental efficiency and performance in various forms.
“Given this opportunity seeks maximum community benefit and leverage for private investment more broadly, opportunities for a range of ownership will be considered, and we look forward to receiving a variety of proposals.”
The expression of interest documentation for 5 Peel Street South including proposed design concepts and purchase prices from any interested parties can be viewed here.
Full details of the site, title, vision, planning, commercial, response and assessment criteria are contained in the EOI document.
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