Alpha group in Amcor bid
Property veteran Guy Nelson's Alpha Partners is believed to be the so-called "mystery buyer" behind a $130 million offer for the prime inner-city development site.
Neither Mr Nelson or Amcor's agent, Colliers International, which is marketing the 16.5 hectare riverside property, would comment on the deal.
Alpha Partners' offer will become unconditional sometime this month.
Demolition of the factory buildings and clean-up of waste on the site will make way for a 3000-strong neighbourhood.
Residents in the area are seeking to enforce height controls and get a school, community centre, sustainable development and protection of the riverfront included in planning considerations for the site.
Amcor's sale looked set to stumble on a final hurdle that required a change in planning controls for the area by the City of Yarra.
But the council voted two weeks ago to support a more flexible development overlay that included draft height requirements up to 12 storeys and a process for the site's developer to seek community engagement.
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The buyer is believed to be Alpha Partners, led by property veteran Guy Nelson, a former Macquarie bank executive. Alpha Partners is thought to be the “mystery buyer” behind the $130 million offer for the former Amcor paper factory site.
The reported offer for the prime inner-city Alphington site is $130 million, made for the 16.5-hectare riverside property formerly owned by Amcor.
The consortium led by Alpha Partners is in the final stages of the purchase, and the offer is expected to become unconditional sometime this month. Neither Guy Nelson nor Amcor’s agent provided comment on the deal.
According to the article, demolition of the factory buildings and clean-up of waste on the site will take place to make way for a new 3,000-strong neighbourhood on the Alphington riverside property.
The sale initially faced a final hurdle requiring a change in planning controls by the City of Yarra. The council recently voted to support a more flexible development overlay that includes draft height requirements up to 12 storeys and a process for the developer to seek community engagement.
Residents are seeking to enforce height controls and to have planning consider a school, a community centre, sustainable development practices, and protection of the riverfront as part of the Alphington site’s redevelopment.
Colliers International is the marketing agent for the 16.5-hectare riverside property that was formerly Amcor’s paper factory site.
The sale highlights a major inner‑city redevelopment opportunity: demolition and remediation of an industrial riverside site, plans for a 3,000‑person neighbourhood, and City of Yarra support for a flexible development overlay with draft heights up to 12 storeys. Everyday investors tracking property and development trends may want to watch how planning outcomes, community engagement and the redevelopment progress influence local property markets and related investment opportunities.
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