After the best part of 15 years sitting as a monument to Readings Cinemas inability to deliver any meaningful redevelopment, one of Melbourne's best development sites is up for sale. Tuesday saw the erection of Colliers International/CBRE signage showing 40 Hall Street for sale through an expression of interest campaign. Billed as 'Melbourne's Next Landmark' the 1.34 hectare open air car park has six street frontages over five titles, a prize site seemingly destined for a high density, highrise residential development.
To know the area is to understand that this site is very much in the heart of Moonee Ponds. The site has been dormant for so long has angered and disappointed both residents and Moonee Valley Council alike. Formerly home to Moonee Ponds Market, the site has subsequently seen a number of redevelopment proposals put forward by Readings, only to fail. Moonee Valley Council in particular has been continually voicing its discontent at the state of flux over this site. Deputy Major Jim Cusack stated previously "Twenty years ago they bought an iconic piece of Moonee Ponds, the market, and 20 years later they have given us a dust bowl that parades as a car park."
Recently the car park closed due to safety concerns. Subsequent asphalt and safety improvements have seen the site reopen, only now to be placed on the market for sale.
Of interest is the render provided within Colliers marketing material. While Moonee Valley have nominated 16 levels as their preferred height, the scheme below shows a tower that would, with architectural feature, weigh in at about 30 levels or approximately 110m. Only a concept yes, but a fair indication as to what Moonee Valley can be expected across their planning desk in the future. Given the council's vehement opposition to the nearby Moonee Valley Racecourse's multiple 25 level tower proposed redevelopment, the future of this site promises to be interesting.
Below, you can marvel at the sheer magnificence of the former Moonee Ponds Market / Readings site as it currently stands.