Melbourne Metro Tunnel North Precinct Mixed-Use Acquisition

Deal value: $87,000,000

Mirvac acquired development rights for the North Precinct above the new Melbourne Metro Tunnel station, planning 220 apartments, 60,000 sq ft office, and 15,000 sq ft retail directly above the rail station.

The core investment motivation is to capitalize on the transformative infrastructure of the Melbourne Metro Tunnel, acquiring development rights above a major new transit hub. The strategic purpose is to leverage increased connectivity, urban renewal, and anticipated demand for mixed-use space—residential, office, and retail—directly above a high-traffic rail station. The timing aligns with the tunnel’s imminent opening, aiming to capture value from improved accessibility and city growth.