There are multiple factors pushing growth in this relatively new form of horticulture Globally there is a growing crisis of insufficient, arable farmland compounded by the rapid destabilisation of the climate causing crop damage and destruction.
Then there are rising populations, especially the movement of people from rural areas to cities. Closer to home, vertical farming can also create value from underperforming property. With grow beds stacked up to eight high and yields of 50 to 100 times conventional outdoor farming, a small vertical farm covering just a few hundred square metres can make financial sense even in the heart of a city.
The lease on Greenspace.com’s first Melbourne site in Southbank ends mid next year. The two-story building in which it is presently housed is earmarked for demolition next year. So Beulah property developers can start construction on the twin STH BNK towers. With access to power and water, and close to scores of restaurants and a dozen hotels the site was perfect for Fox and his team.
Fox is presently in talks with Beulah to integrate a vertical farm into its STH BNK build. “Beulah are looking at it as a ESG strategy,” says Fox. “The macrofarm can serve both the residential and commercial tenants.” Fox believes that with some lobbying the Green Building Council of Australia will, in future recognise, Greenspace.com’s carbon neutral method of raising and distributing food. “I strongly believe this will lead to better star…
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