Woolworths Limited is preparing to launch an international Expressions of Interest campaign for the sale of its Mernda Town Centre site in Melbourne’s north east.
Stage 1 of the 24.9ha, master planned Town Centre will provide a full-line Woolworths supermarket, a range of specialty shops and lifestyle/entertainment facilities.
This mixed use centre has been specifically designed to integrate with the proposed Mernda Railway Station to provide the community with convenience and connectivity.
Future stages will complete the Town Centre and will integrate community, employment and residential uses.
“Underpinned by a range of successful surrounding developments from groups such as Stockland and Central Equity, Mernda has emerged as one of Victoria’s fastest growing suburbs, ranking 6th in the state in for population growth over the past couple of years,” CBRE’s Mr Wizel said.
“The Town Centre is perfectly positioned to supply retail and residential product to meet the demands of the expanding populace. Woolworths has also progressed the development process substantially, meaning the offering is significantly de-risked and development ready.”
Mernda Town Centre is located 25km north-east of Melbourne’s CBD in the City of Whitlesea.
Woolworths has committed to lease back the supermarket component of the project, which is expected to be a key buyer draw card.
“The mixed use and residential development potential of the surrounding land will be highly beneficial for supermarket trade, and the presence of Woolworths will also enhance the appeal of the residential product to be developed on the balance of the site,” CBRE’s Mr Dowers said.
Woolworths Limited representative, Don Founds, Senior Development Manager said, “We have had the unique opportunity to design a Town Centre to integrate with the newly opened Mernda Railway Station. This will be one of the most convenient and accessible centres in the catchment and will create a vibrant destination for the community.”