Melbourne developer Bill McNee is chasing an early payout after putting a megasite in Fishermans Bend back on the market for a second time rather than developing it.
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Mr McNee and his investment partners gained planning approval for 1300 apartments across four towers on the huge 9776-square-metre block at 60-82 Johnson Street that they acquired through Vicland Corporation for $10.1 million in September 2013 from the family that founded hire company Kennards.
The site has been newly listed via agents Dawkins Occhiuto and Colliers International after a previous attempt to offload it through Savills Australia last year failed to find a buyer.
Vicland signed a contract of sale for the site soon after purchasing it with Hong Kong-listed, Guangzhou-based R&F Properties subject to receiving development approval but the deal, believed to be for close to $70 million, fell over when the site failed to get a permit within the required time.
Several other Fishermans Bend sites are also for sale. A landholding at 280 Normanby Road on the corner of Johnson Street covering 2609 square metres is being flipped within months of its owners buying it for $14 million.
Another potential South Melbourne development site, 19-25 Raglan Street, has also come onto the market and Liberal Party powerbroker and honorary treasurer Andrew Burnes has applied to build a 40-storey, 318-apartment, mixed-use tower complex on a nearby site at 179 Normanby Road.
