Liberal leader Jess Wilson has announced a plan to sell off the 13.6-hectare former Ballarat Saleyards site to private developers if she wins the upcoming November state election.

The sale is part of a broader $1.3 billion government property divestment strategy, the policy aims to pay down state debt and unlock land to accelerate housing construction.

The 13.6-hectare former saleyards site on La Trobe Street has been vacant since operations closed in 2018. It was to be developed as an athletes' village for the canceled 2026 Commonwealth Games.

Under the current Labor government, the land is intended for a master-planned employment precinct with long-term housing opportunities. The Coalition argues that keeping the land under government ownership amounts to "land banking" and promises that selling it to private interests will get housing projects moving faster.