VICTORIAN Planning Minister Matthew Guy last week announced the four bidders that will be asked to put forward proposals to earn the right to develop the last uncontracted land parcel in Melbourne's Docklands precinct.

In February, the Minister called for Registrations of Interest (ROI) to develop the two-hectare site, which has a Collins Street address and also includes a Flinders Street frontage and air rights above Wurundjeri Way.

Australis Consortium (comprising Equiset Developments Pty Ltd and Australand Holdings Limited); Grocon Property Developments Pty Ltd and Mirvac Victoria Pty Ltd; Leighton Properties (Vic) Pty Ltd; and Lend Lease Development Pty Ltd were successful in being shortlisted.

Mr Guy said that each of the submissions were evaluated taking into account a range of factors including design, environmental initiatives, community infrastructure, public art, relevant project experience, management of rail and road interfaces and understanding of the state's vision for Docklands.

The bidders have until October 26 this year to prepare their proposal in accordance with VicUrban's Request for Proposal documentation.

Mr Guy said the size and location of the land parcel on offer was a prime development opportunity close to Southern Cross Station and the CBD.

"Development of this site will help connect the developing areas of Docklands to Southbank and the Melbourne Convention and Exhibition Centre as well as enhancing pedestrian amenity throughout this key linkage," Mr Guy said.

"Melbourne Docklands continues to be an economic powerhouse for the state with around $1.8 billion worth of commercial and residential development currently taking place or the equivalent of 278,000 square metres of gross floor area."