7 July 2009
Monash University has advised Grollo Equiset Development that it is ending the Development Agreement by exercising the sunset clause in its agreement with Equiset to redevelop the western end of the Caulfield campus.
Equiset and Monash have worked together over the past three years in an effort to deliver their joint vision for a vibrant precinct offering a mix of student accommodation, teaching space, car parking and retail facilities.
However, the current global financial crisis has placed significant, and ultimately insurmountable, constraints on the commercial feasibility of components of the approved project.
The University will now consider alternatives for the development of the site.
In the meantime, Caulfield Plaza will continue to operate under its normal trading conditions.
For more information please contact Tim Mitchell, Monash University media office, on +61 3 99034840 or +61 437 457780.
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