Guy Nelson gets out of Alphington Village
The town centre of the former paper mill site at Alphington. Image: Supplied

Guy Nelson gets out of Alphington Village

Developer Guy Nelson is taking the next step in his development of the former Amcor paper mill site at Alphington, in inner-city Melbourne, putting its new retail hub on the market with expectations of $170 million or more.

Still under development, the Village Alphington as it will be known, is expected to be trading by the end of 2021, the commercial centrepiece of an ambitious urban renewal project that is unfolding across the 17-hectare site.

On completion, the entire redevelopment will be home to 5000 to 6000 residents across 2500 residential townhouses and apartments, with more than 4 hectares of community space and parkland, an aged-care facility and serviced apartments.

Amcor left the site in 2012, shifting its recycling operations to a New South Wales facility and a year later sold the paper mill for $120 million to a joint venture between Mr Nelson’s Alpha Partners and residential developer the Glenvill Group, which took over about 70 per cent of the site.

Mr Nelson, a former Macquarie bank executive, has since pursued development plans for his remaining 2.1-hectare slice of the Amcor site, winning planning approval last year for a mixed-use project comprising a retail centre, commercial office space, apartments, a community centre and a vertical primary school.

The retail hub will be anchored by two full-line supermarkets, Coles and Aldi. In total the so-called “super neighbourhood” shopping centre will comprise 13,000 square metres of retail space and more than 10,000 square metres of commercial space.

Colliers International’s Lachlan MacGillivray, John Marasco and Tim McIntosh have been appointed to broker the Village Alphington.

Mr MacGillivray noted the growing catchment that surrounds the emerging development on the corner of Heidelberg Road and Chandler Highway, which is 10 minutes from the CBD and sits within the inner-city suburb of Alphington.

That catchment – where the local population is expected to grow to 86,000 by 2031 – is “significantly under-serviced”, Mr Marasco said.

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