Brown is the New Gold for Property Developers – Brownfield Sites

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As Melbourne’s population swells at the seemingly unstoppable rate of 100,000 new residents per annum, developers are finding opportunities across the most interesting if unlikely sites. Abandoned factory sites, disused quarries, derelict warehouses, and former abattoirs present viable challenges for astute developers seeking projects with a marketing edge. The Environmental Protection Agency (EPA) defines brownfield as “real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.”

In this special Lunar New Year edition, The Asian Executive magazine interviews Andrew Barbone, Senior Development Manager, Pomeroy Pacific and Grant Holman, Director, Wood & Grieve Engineers, to find out the reasons why brownfield sites can be potential goldfields in the hands of smart developers.

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