A quarry operator is seeking a buyer for its limestone operation ahead of the site’s proposed redevelopment into a residential hub.
Sibelco Australia has launched a public tender sale campaign for its Lilydale quarry, located in Melbourne, Victoria.
The supplier announced earlier this month that operations would cease before the end of the year due to “flat” economic and market conditions, with Sibelco spokesperson Helen Stanley confirming to Quarry more recently that the site was expected to close in October.
The quarry, which has been producing quicklime, hydrated lime and other associated products for more than 140 years, had originally been scheduled to close in 2016 once its resource had been exhausted.
“The Lilydale site has been a significant part of Sibelco Australia’s business success and we are proud of the strong legacy it leaves behind,” Stanley commented. “The Lilydale site has provided long-term employment to the Lilydale community for more than a century, [and has been] pivotal to the growth of Lilydale and the broader Yarra Ranges region of Victoria.”
Plans for the future
For more than two years, Sibelco has been planning the quarry site’s future with the support of the Victorian Government’s property development agency, Places Victoria, and the Yarra Ranges Council.
The draft master plan it first released in June 2013 – which is known as Plan Cave Hill – envisaged the establishment of up to 2500 new residences, retail outlets and community facilities focused around a large, central parkland by way of a 15 to 20 year redevelopment program.
Sibelco CEO Tom Cutbush explained that the sale of the quarry would help progress these plans.
“Sibelco Australia recognises that we are not experienced property developers, and therefore … we are launching a public tender sales campaign to attract a property developer with the skills and resources necessary to turn this exciting vision into a reality,” he said.
In July this year, Sibelco lodged a planning scheme amendment request with the Yarra Ranges Council to rezone the site in preparation for its redevelopment.
Commenting on the milestone, Cutbush said, “Sibelco is excited to see the site take a step closer to a positive legacy for the Lilydale community including celebration of the site’s long history and its close connection with the growth and prosperity of Lilydale and the broader Yarra Ranges region.”
The final master plan will be exhibited for public consultation later this year following the council’s initial review.
Originally established as a family-operated business in 1872, the 163ha Lilydale quarry site was acquired by Sibelco in 2002.