Receivers Martin Ford and Daniel Walley of PwC Australia (PwC) have today announced the sale process for the Aitken Hill conference centre will launch on 1 September 2021. Biggin & Scott Land and CBRE have been appointed to coordinate the sale.
The 69-hectare, ‘urban growth’ zoned site in the north-western Melbourne suburb of Craigieburn also features a 124-room hotel and extensive parkland. The property is ideally suited for residential development.
PwC Director Andrew Seeckts confirmed the sale process would proceed despite COVID-19 restrictions.
“Our agents are ready to speak with interested parties and will run an open, transparent process to sell Aitken Hill to the highest bidder.”
Biggin & Scott Land Director Andrew Egan said demand for suitably zoned land for residential subdivision had never been stronger, with developers keen to fuel their pipelines.
“Given that Aitken Hill is largely surrounded by established residential subdivisions, we expect strong demand from all the major developers in the market.”
CBRE Land Sales Director David Minty said that Aitken Hill being “development ready” right now will only increase interest in an already hot property market.
“We are seeing record sales results for land in Melbourne's south east and north west corridors in particular, and Aitken Hill is prime real estate”.
CBRE Hotels Senior Director Scott Callow expects the size and quality of the conference and hotel facilities to be attractive beyond the hotel sector.
“We expect the health sector may take this opportunity to repurpose the site given the demand for quality health and retirement assets.”
Aitken Hill is in close proximity to Melbourne Airport and rail and road networks. It sits within the Craigieburn West Precinct Structure Plan. Constructed in the late 1980s, it features extensive five-star conference and events spaces, as well as sporting, leisure and hospitality facilities, and parking for 150 vehicles. The site has been closed for the duration of the pandemic.
Martin Ford and Daniel Walley of PwC were appointed receivers and managers of Zhong Ao Zhi Hong Investment Holding Pty Ltd, owner of the Aitken Hill property, in July 2021.