FORD has sold another slice of its 63-year history in local car manufacture with the sale of a large site in Melbourne’s northern suburb of Campbellfield.

The site, at 1777-1787 Sydney Road, was sold to developer Time & Place for about $80 million. Time & Place has stated it intends to redevelop the site with a $250 million development.

The property was previously used for warehousing and parts distribution with both functions now relocated to another property.It has three warehouses built between 1962 and 1999 with Ford saying it will remain as a tenant in one of the buildings for the next several years to run its service engineering operations.

Time & Place said in a statement that it will make a planning application in the first quarter of this year and intends to ensure its redevelopment aligns with both its historical significance and modern industrial demands.

The development is expected to be completed in 2028 and appeal to industrial and logistics tenants who want to capitalise on the site’s transport connections.

The Sydney Road property is regarded as having significant historical value and was an important part of Ford’s Australian operations since the car-maker started manufacturing operations in Australia – especially from the launch of the local Falcon in the early 1960s.

Time & Place said it saw the site as a landmark of Melbourne’s industrial legacy, harking back to its manufacturing past.

It meets the developer’s mandate in transforming sites that hold historical significance.

Time & Place is currently redeveloping Melbourne CBD’s landmark Hotel Lindrum. It has also recently bought Sydney’s iconic Marlborough House building, which was the original former David Jones warehouse, with the backing of tycoon James Packer.

Time & Place director Chris O’Keefe told The Australian newspaper that strengthening the company’s industrial portfolio “remains a key strategic driver of our business” as it worked across the residential, industrial, and commercial sectors.

“We have always loved the challenge of taking a site with a rich history and reworking it into something fresh and exciting,” he told The Australian.“These kinds of projects are the ones that really inspire us as a team and push us to create something special.

“Our vision is to breathe new life into this site, supporting the future of the community and the local economy.

“This acquisition aligns with our commitment to high-quality industrial assets in key growth corridors.”

Ford last sold a 60ha site, part of its manufacturing facility, in Campbellfield in 2019 to a developer for $82 million.