Investors stick to Brimbank

By Tate Papworth

Brimbank continues to be a popular area for investment, despite a downturn in the property market.

The council received 75 planning applications in February with a combined development value of $224.1 million.

It represents a significant jump from the development value on planning applications for February 2018, which totalled $58.9 million.

A report tabled at the Brimbank council meeting stated that a large portion of the money was from two significant applications – a data centre in Derrimut valued about $60 million and a residential hotel at Watergardens with an estimated cost of $16 million.

Cr John Hedditch said it was welcome news.

“It’s great to see investment in the Derrimut area,” he said. “With an industry analysis underway and a whole lot of thinking going on how we can create more investment into Brimbank and bring more jobs into the area – these are great stats.

“Yes we see a downturn happening in the property investment sector and various others around the country, but here in Brimbank we have a really strong, robust investment pattern going on.”

Cr Bruce Lancashire echoed Cr Hedditch’s sentiments.

“That amount of money being invested in Brimbank does show great confidence in this municipality,” Cr Lancashire said.

The council also made 87 planning determinations and 26 subdivision determinations in February this year.