Preston Market is here to stay


Preston Market is in the news again as the market’s owners, traders and the local community await the Victorian Planning Authority’s (VPA) proposed community consultation.

Preston Market has evolved over the past 51 years, and for 15 has been under the majority ownership of Preston Market Developments Pty Ltd (PMD), a joint venture between Australia’s Salta Properties and Medich Corporation, which has ensured that Preston Market has remained the heart of Preston Central, a place where the community and its many cultures can mix and socialise comfortably and be immersed in its many happenings.

Managing Director of Salta Properties Sam Tarascio said that the company and its partners at PMD were committed to the future success and longevity of the market.

“There is a growing demand for a more modern community market environment that continues to serve the needs of the existing traders and the community, and supports growth in Preston,” Mr Tarascio said.

“We can assure traders and patrons that there is no intention to move the market away from its current site or to interrupt trading.

“We are committed to preserving the market culture and identity, and PMD will work with all stakeholders to this effect.”

PMD supports efforts announced last year by the VPA to fast-track consultation with the local community on the next stage of the Preston Market urban renewal project.  This includes affordable housing, 6 Star Green Star Communities and the continuous operation of an open, light and airy fresh food market.

The development of Preston Market precinct would see a significant investment in Central Preston and the City of Darebin, immediately creating thousands of jobs, as part of the stunning transformation of Melbourne’s north.

The VPA invited PMD to work with it and the City of Darebin to ensure the regeneration of the market would enhance the lives of the local community.

Salta Properties Chief Operating Officer Emma Woodhouse said that Salta Properties strongly supported the VPA’s leadership on consulting with the community.

“We recognise the important culture and identity of the property, which has been a local market since 1970 and we encourage the community to participate in the VPA’s consultation process,” Ms Woodhouse said.

“We are excited by the opportunities that this precinct offers, which include affordable housing, public open space, significant urban renewal and local employment, to sustain the market and its culture.

“It is important not to lose sight of the fact that the heritage value of Preston Market lies in its use as a market serving the local community and any future planning will take this into account.”


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For more information on the Preston Market Renewal Project please visit