It’s the end of an era for General Motors’ subsidiary, Holden. The Holden manufacturing facility situated in Fishermans Bend has been sold to the Victorian government, according to News.Au.
The 93-acre site has been home to Holden manufacturing for over 80 years, but the government will reportedly redevelop the land and surrounding area to become home to 80,000 people by the year 2050.
Industry and Employment Minister Wade Noonan said the government had a “clear plan” to redevelop the area and the purchase was a “once in a generation opportunity.”
The manufacturing site reportedly sold for $130 million AUD, or roughly $97.2 million USD.
Comment
Can’t quite figure what GM wants to burn first – it’s bridges or it’s customers.