Mirvac and Cbus Property have progressed to the final stage of the selection process for the development of Melbourne's Treasury Square site.

The two developers were shortlisted out of 11 interested parties to proceed with their proposals for the project on Tuesday, with Colliers International's Trent Hobart, John Marasco and Anne Cavar managing the process.

The state government-owned site is situated on the southern side of Flinders Street next to the rail corridor, spanning the area between Exhibition and Flinders streets, and Wellington Parade South.

At a glance: 

• Cbus and Mirvac have been shortlisted to develop Melbourne's Treasury Square site.
• Comprising 13,600 square metres, Treasury Square has the potential to create 130,000 square metres of net lettable area for a commercial value of about $2 billion.
• Colliers International's Trent Hobart, John Marasco and Anne Cavar are managing the process.

Comprising 13,600 square metres, Treasury Square has the potential to create 130,000 square metres of net lettable area for a commercial value of about $2 billion.

According to the Victorian Government, developing the land presents an opportunity to "increase office space or new hotels or apartments in the heart of the city, which has the potential to create jobs, attract new businesses and further activate the eastern edge of the CBD".

Source: VicTrack 

The government put the site on the open market in November last year and has since attracted interest from four high-profile bidding developers including Dexus/John Holland and Brookfield Property. 

The public submissions on planning controls for the site close on Friday.

Click here to find out more about Treasury Square.

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