Land sales

This information is useful for people who are interested in buying VicTrack land that has not yet been declared surplus to transport requirements.

Step 1: Locate the land you are interested in using our free KMZ file and Google Earth

Step 2: Apply to buy land

Step 3: Applications are reviewed by a VicTrack panel fortnightly. If the application is considered feasible by the VicTrack panel, the application is sent to the Department of Transport and Planning and transport authorities to determine if the land is no longer required for transport purposes.

Step 4: If the Department of Transport and Planning deems the land surplus to transport requirements, VicTrack will get in touch about the next steps.

Keys steps in the application process
All land sales undergo an initial assessment process by VicTrack. This is to ensure the land is no longer required for transport currently or in the future, and that other matters won’t affect the sale, such as existing leases, licences, third party services or the environmental condition of the land.  Depending on the complexity of the sale, the process can take 12 to 18 months, and even longer for sales dealing with Crown land or requiring rezoning or subdivisions.  The key stages of each land sale application include:

Land assessment
VicTrack reviews the land for any initial constraints which may affect the sale, such as the location of services, improvements, existing leases or licenses. Timeframe: Typically six weeks to complete. A further comprehensive review of site conditions and issue resolution is completed if the land is deemed surplus to transport requirements (refer to next step).


Transport clearance
Applications are reviewed by a VicTrack panel fortnightly. The sales supported by the VicTrack panel are forwarded to the Department of Transport and Planning and transport authorities to secure clearance that the land is no longer required for transport purposes. Timeframe: Typically three to five months to complete.

First Right of Refusal (FROR)
Upon the declaring land surplus to transport requirements, VicTrack must offer the land to other government departments and agencies for purchase via Department of Treasury and Finance's FROR process before progressing a public sale. If another government agency requires the land, the applicant will be notified that the land is no longer available for purchase. Timeframe: Three months. 


Rezoning
VicTrack land is largely zoned Transport Zone 1, which requires a planning scheme amendment to change the zoning to support the use of the land after sale. VicTrack normally undertakes the process prior to the sale to ensure the zone reflects the ultimate end use. Timeframe: Depends on statutory planning processes but typically 18 to 24 months to complete 


Subdivision
VicTrack titles do not always align with how land is being used and in most cases a subdivision is required to enable a sale to be completed. VicTrack completes this process, including obtaining the relevant planning permit from the local council. Timeframe: Typically takes 6 to 12 months depending on the nature of the subdivision.


Selling Crown land
The sale of Crown land requires additional processes to enable a title to be created, including approvals from the Minister for Environment. If the land is temporarily or permanently reserved, the reservation needs to be removed to enable the sale. VicTrack will advise applicants if the land is Crown land and provide indications of the likely time to complete this process.

Valuation
In accordance with the Victorian Government Land Transactions Policy (VGTP), VicTrack land must be sold at no less than market value as determined by the Valuer General Victoria. VicTrack coordinates this process with every land sale. Public sale or private treaty applicants will be kept informed through the process.


Approvals
In addition to VicTrack’s internal approvals, approvals must be sought in accordance with the Victorian Government Land Transactions Policy (VGTP) and Transport Integration Act 2010 for each land sale, where applicable from the Minister for Transport Infrastructure or the Victorian Government Land Monitor.

Sale terms
In the instance of a public sale, VicTrack will establish a reserve price in line with government policy to facilitate the sale.

The reserve is established to enable a public market process to be completed which can take the form of auction, expression of interest or tender. If appropriate, a sale through direct negotiation or private treaty will follow a similar process as public sale to establish market value.

VicTrack will communicate any offers in writing to the interested party. VicTrack prefers cash terms with a 10% deposit from the purchaser including standard settlement periods of 30 to 120 days. 

All information and valuations obtained by VicTrack for the sale of its land is for its purposes only and these reports are not provided to purchasers of land, nor can VicTrack disclose the reserve price for the land.

Contract documentation and settlement

Each sale requires a contract of sale and vendor’s statement to be prepared and executed by the vendor and purchaser. This generally happens once all commercial terms have been agreed, including any site-specific conditions. VicTrack has standard clauses included in its contract including: 

• mandatory fencing on relevant land boundaries to protect rail operations (if applicable)
• no illegal drainage onto VicTrack land.

Once the contract is executed, settlement will be affected in accordance with the agreed terms. VicTrack or its agent will manage this process in consultation with the purchaser.

This information is useful for people who want to buy surplus land that is listed for sale.

Step 1: View the surplus land listings further down this page.

Step 2: Click on the listing that you are interested in and register your interest.

Step 3: VicTrack will contact you with next steps, which may include an invitation to participate in an Expression of Interest process.

VicTrack will establish a reserve price in line with government policy to facilitate the sale.

The reserve is established to enable a public market process to be completed in the form of an Expression of Interest process. In line with government policy, the reserve price cannot be disclosed. If appropriate, a sale through direct negotiation or private treaty will follow a similar process as public sale to establish market value.

If selected to participate in the Expression of Interest process, your offer will be evaluated  against set selection criteria, which includes price, settlement terms, deposit and any conditions of sale. 

VicTrack prefers cash terms with a 10% deposit and standard settlement periods ranging from 30 to 120 days.

Contract documentation and settlement

Each sale requires a contract of sale and vendor’s statement to be prepared and executed by VicTrack and the purchaser. This generally happens once all commercial terms have been agreed, including any site-specific conditions. VicTrack has standard clauses included in its contract including: 

• mandatory fencing on relevant land boundaries to protect rail operations (if applicable)
• no illegal drainage onto VicTrack land.
  
  

Once the contract is executed, settlement will be affected in accordance with the agreed terms.