Melbourne growth population forces increased opportunities

When Hugh Victor “H V” McKay relocated his factory to what is now “Sunshine” he wanted to create a mixed-use development based on the “Garden City” concept that combined industry, housing, infrastructure and amenities, with an emphasis on green active and passive recreational areas.

A century later C2 Capital’s exciting Sunshine North development maintains these ideals. Set on a picturesque bend of the Maribyrnong River, with breath-taking views of the city skyline, our development is a key part of a wider project that includes over 500 townhouses and 50 apartments, which will form a flourishing community. The site is only about 10km from the CBD, and combines excellent connectivity with outstanding amenities such as fully landscaped common and entertainment areas linked by an extensive network of pathways.

Sunshine boasts easy access to Melbourne’s CBD (currently 13-15 minutes by peak hour train), airport and docks. Both state and federal governments are investing billions of dollars in its infrastructure, employment and services will underpin Sunshine’s place as the focus of Melbourne’s booming west. Naturally, as a result, this would support the future capital growth in the area.

Major Transport Hub

Sunshine Railway Station has become a major transport hub (“another Southern Cross” in the heart of the west). Recently upgraded Rapid Regional Link (RRL) trains from Ballarat, Bendigo and Geelong converge with the Sunbury, Melton and Wyndham Vale Metro lines at the station. Before long they will be joined by the new Metro Tunnel (under construction) and the long-awaited “AirRail” link to Melbourne Airport (construction commencing circa 2021). When completed AirRail will connect Sunshine and the CBD (Southern Cross) by express trains via twin tunnels further reducing travel time. The frequent services radiating from the adjacent bus station only add to Sunshine’s status as Melbourne’s western transport “Super Hub”.

Public Sector Investment

Due to its location and amenities the Sunshine National Employment and Innovation Cluster (“Sunshine Cluster”) has been identified as a premier site for the development of suburban business and employment. The strategy is part of “Plan Melbourne 2017-2050”, a coordinated program aimed at driving economic growth in the suburbs through harmonised public and private investment. The plan builds on Sunshine’s key public and private assets to sustainably grow local jobs.

Public assets include Sunshine Hospital and the two local Victoria University (VU) campuses. The public hospital has been expanded with a new facility for women and children, while the new Sunshine Private Hospital is also located in the “Health Wellbeing & Education Precinct”, only 500m from recently redeveloped Ginifer Station. The precinct also houses the Western Centre for Health, Research & Education incorporating faculties of Melbourne and Victoria Universities.

Metropolitan Activity Centre

State transport minister Jacinta Allan has stated that there will be significant redevelopment of Sunshine with the intention of creating employment clustering in the area.

The Victorian Planning Authority’s scheme creates three precincts centred on local railway stations. The plan also includes an “Investigation Area” in Sunshine North near the C2 Capital project. All three zones are to undergo mixed-use development, with Sunshine/Albion designated a “Metropolitan Activity Centre”, which combines commercial and retail employment districts with mixed-density residential developments.

Sunshine currently has six residential-focused projects in the pipeline. The existing municipal planning scheme “Sunshine Town Centre Structure Plan 2014” accommodates medium and high-density developments encouraging people to work, study, shop and live in the area. Sunshine conveniently contains service outlets for all three tiers of government (eg Centrelink/Medicare, VicRoads, Brimbank City Council) alongside two major shopping centres and established primary, secondary and tertiary education facilities.

Investigation Area

The “Solomon Heights Investigation Area” is also located in Sunshine North. Here the Brimbank City Council is exploring avenues that will permit mixed-use development of the attractive site while preserving the outstanding biodiversity of its native grassland, which has made it of environmental significance.

Leisure Activities

Sunshine is packed with facilities that accommodate every taste in both active and passive leisure from athletics and badminton to walking and yoga, from cinema and dining, to shopping and theatre. The C2 Capital project is within walking distance of Medway Golf Club – another of the West’s hidden gems!

Public amenities are being upgraded by a number of programs including the conversion of the area’s arterial roads into a network of tree-lined boulevards.

Duke Street Neighbourhood Activity Centre

C2 Capital’s project is the commercial portion of a Pace residential development. Located in a disused quarry that has formed its own “natural” lakeside setting, three of the four residential town house phases have already sold out, with the fourth shortly to be released to the market.

C2 Capital already has approval to construct a new shopping centre to service the community. Further, our application to amend this permit, to add two, nine-story residential towers to the project, has received positive feedback from the local council. Agents have been appointed and are already selling units off-the-plan (subject to permit approval). The project will shift in to full sales mode early in 2020 as soon as the amended permits ought to be approved (likely December 2019).

The purpose of this $2.9 million raising is to fund purchase, stamp duty and other establishment/planning/lodgement costs. Loan notes will attract 10% interest (at maturity) plus 10% of the project’s net profit.

All-in-all Sunshine is the heart of Melbourne’s booming western suburbs. Melbourne’s west is open for business, there is a city-shaping vision, there is a clear investment pipeline, and our Sunshine North project is key part of it.

As a Victorian government official recently said: ‘Time to get on with it!’

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All financial product involve risks. Past performance of any product described on this site is not a reliable indication of future performance. C2 Capital Pty Ltd is an Authorised Representative of Murphy Financial Solutions Pty Ltd (AFSL No.234703).