After more than half a century, the Australian Wool Testing Authority Ltd (AWTA Ltd) is preparing to part ways with its long-standing Melbourne home at 70 Robertson Street, Kensington. This move marks not just the end of an era for AWTA, but the beginning of a transformative opportunity for Melbourne’s city fringe.
Spanning 1.18 hectares and located just 3 km from the CBD, the site has a price guide in excess of $45 million and is the last major development parcel within the proposed Macaulay Structure Plan’s Stubbs Precinct.
It is poised to become one of the most significant city-fringe development offerings of 2025. With its Mixed-Use Zoning (MUZ), flexible planning parameters, and strong transport connectivity, the site is a rare gem in a tightly held market.
“This is a once-in-a-generation opportunity,” says Joe Kairouz of Cushman & Wakefield, who has been appointed exclusively to sell the site alongside colleagues Hamish Burgess, Oliver Hay and Anthony Kirwan.
“The scale, zoning, and location of 70 Robertson Street make it one of the most compelling development prospects we’ve seen in recent years. It’s ideally suited for a range of uses - from Build-to-Rent and Build-to-Sell to Aged Care, Co-Living, or even a hybrid mixed-use model.”
Kensington has emerged as a leader in Melbourne’s Build-to-Rent (BTR) sector, with successful projects like Local: Kensington and Assemble on Stubbs Street already operational, and more underway. This momentum underscores the precinct’s growing appeal to developers and investors alike.
Hamish Burgess of Cushman & Wakefield adds,
“The site’s ability to accommodate staged development is a major drawcard. It allows developers to manage risk, optimise financial performance, and respond to market demand in real time. With the Victorian Government’s Development Facilitation Program supporting higher density near transport hubs, the timing couldn’t be better.”
Victoria’s broader market context is shifting. After a challenging 2024, marked by structural headwinds, the final quarter saw a resurgence in activity. The reintroduction of stamp duty concessions for off-the-plan buyers and February and May rate cuts have helped reignite buyer interest. Developer sentiment in 2025 is more optimistic than it has been in years, with many preparing for the next growth cycle.
“The forward pipeline of new projects remains thin, and the gap between supply and demand is widening. This scarcity is driving renewed urgency among developers to secure prime sites like AWTA’s Kensington property.
“As Melbourne grapples with a housing shortage and increasing pressure to deliver more homes faster, 70 Robertson Street stands as a beacon of potential. It is not just a development site, it is a canvas for the next chapter in Kensington’s evolution” said Mr Kairouz.
