Wyndham councillor and developer Intaj Khan is selling a major commercial site in Werribee, which is presently occupied by Gordon TAFE.
Cr Khan said he was hoping to achieve a minimum price of at least $5 million for 180 Princes Highway, which is located within the East Werribee Employment Precinct.
The land, which measures 6001 square metres, was formerly owned by Dairy Innovation Australia Limited (DIAL) which provides technical and research services to the dairy and food manufacturing industry.
At present, the site is occupied by Gordon TAFE, Victoria’s largest regional stand-alone TAFE.
Cr Khan said he believed it was now “the right time” to sell the property, due to Werribee’s growth.
Werribee’s population is forecast to grow 42 per cent by 2036, making it one of Australia’s fastest-growing regions.
The buildings at the Princes Highway site consist of a modern office and laboratory facility measuring 2088 square metres, with 41 on-site car spaces.
The site is presently 60 per cent leased. Remaining tenancies measure between 55 square metres and 900 square metres.
The Princes Highway land will be sold through Raine and Horne Commercial.
In February, the Australian Financial Review (AFR) reported that Cr Khan was also selling four parcels of land located in Rockbank, at 288-310 Paynes Road, 1053-1083 Mount Cottrell Road and 3 and 5 Iramoo Circuit in Thornhill Park, ranging in size from 13.5 to 18.5 hectares.
Cr Khan told the AFR he was selling the sites to fund the development of Mount Aliza estate, a 78-lot land-subdivision at 845 Mount Cottrell Road. Cr Khan also said he was planning to develop a hotel upon land he owns within Melbourne’s CBD.