Located on one of the largest single CBD land holdings in Australia at a total size of 10 hectares, The District Docklands provides over 82,500sqm of Net Lettable Area and generates a secure and diversified income stream from a range of different uses.
The District comprises an extensive mixed-use urban village and has a solid base of tenants including Woolworths anchoring the fresh food precinct, HOYTS the entertainment precinct, and international fashion brands H&M and Uniqlo.
AsheMorgan acquired the asset in December 2014 as a discount outlet shopping centre with a high concentration of fashion, footwear and apparel (discretionary) retailers. Since then, AsheMorgan has invested over A$250.0 million for the transformation and repositioning of The District into a high-quality, vibrant, mixed-use urban precinct including:
- Entertainment, Leisure, and F&B
- Fresh food and daily needs
- Commercial and creative workspace (Office)
- Lifestyle, Health and well-being and tourism
- Accommodation (Hotel / Serviced Apartments)
Located at the entrance to Melbourne’s CBD at the intersection of CityLink and Footscray Road, The District Docklands is connected to 50% of Melbourne’s population within a 30-minute drive. The District benefits from exceptional connectivity to the Melbourne CBD and greater Melbourne via pedestrian / cycle ways, roads, rail and the free city tram network.
As the western gateway to the Melbourne CBD, Docklands is one of the largest urban regeneration projects in Australia. Docklands is an enviable waterside suburb with a unique mix of retail, entertainment, hospitality, residential, commercial, hotel and creative uses. Over the last 10 years the area has undergone a significant transformation which is set to continue.
- Large parcel of land (10ha) with significant existing improvements on the fringe of Melbourne CBD
- Exceptional connectivity to the Melbourne CBD and greater Melbourne
- Significant capital expenditure since acquisition to pivot the Asset from a discretionary retail centre to a mixed-use precinct
- Anchor tenants and tenancy mix in place following the redevelopment and re-positioning to capitalise on an improving market post COVID-19
- Flexible infrastructure and planning allowing the ability to pivot strategy and CRE sectors to meet market demand
- Masterplan approval for the mixed-use future development of approximately 150,000sqm of GFA on surrounding vacant land which could house a variety of complementary uses
The District is complemented by increasing density (office, residential and hotels) and exceptional connectivity via existing and planned infrastructure. The District is set to continue its evolution to capture further development with commercial and residential uses.
The repurposing of Level One retail to District Office, completion of Nesuto Apartments in December 2022 and the future development of District Living (850+ apartments over two stages) represents the continued diversification and expansion of the District Docklands precinct.