Woolworths to seek buyer interest in 24.9ha Mernda site
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.
24 Oct 2018
CBRE’s Mark Wizel, Justin Dowers, Julian White and Lewis Tong have been appointed to steer the campaign, which is expected to attract widespread buyer interest.
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."
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.