Stonebridge Property Group has been appointed to sell the Woolworths-anchored Williams Landing Shopping Centre on behalf of Cedar Woods Properties Limited.
Williams Landing Shopping Centre is a dynamic mixed-use superhub in the centre of Melbourne’s western suburbs. Designated as a Major Activity Centre, the 50-hectare town centre will have the capacity for more than 200,000m2 of office and retail space with significant amenities.
The high-quality, convenience-based neighbourhood shopping centre is anchored by a full-line Woolworths plus a childcare centre, 30 specialty retail tenancies and 12 office suites, spread over a lettable area of 10,925m2 with only one vacancy representing just 0.9% of lettable area.
Cedar Woods’ Chief Operating Officer, Patrick Archer said, “Williams Landing Shopping Centre represents a premium asset located in the heart of a thriving mixed-use town centre. Williams Landing is well served by key rail and road links and is located in a region that has consistently been one of the fastest-growing in the country.”
“Williams Landing is a great success story for Cedar Woods. To date, we have delivered over 2,000 residential land lots, four apartment buildings, four commercial office buildings and the Woolworths anchored neighbourhood shopping centre. On completion, the Williams Landing Town Centre is projected to accommodate over 1,300 dwellings and more than 200,000m2 of office and retail space.”
Williams Landing Shopping Centre is offered with 2.39 hectares of expansion land, providing significant scope for future development/expansion. The centre’s Priority Development Zoning and significant total site area of 5.55 hectares provides superior outcomes on the site and creates a major landholding in the heart of a world-class development precinct.
The centre is optimally positioned next to major transport connections, with the $110 million Williams Landing station less than 500 metres away and the Princes Freeway adjacent. The public transport and freeway linkages provide direct access to the Melbourne CBD and the broader Western suburbs including Werribee and Geelong.
Stonebridge Property Group’s Justin Dowers and Kevin Tong will be offering the neighbourhood shopping centre via an expressions of interest campaign.
“Williams Landing Shopping Centre is unique, given it is now within a middle ring western suburb, with a significant development opportunity. Rarely do we see centres 20 km from The Melbourne CBD with over 2ha of Priority Development Zone land adjoining. They just never come up for sale,” said Dowers.
Tong adds, “We witnessed a resurgence of Asian investment into the neighbourhood shopping centre market in the back end of 2022 through increased enquiry levels and bids. With China’s borders now open and the Year of the Rabbit commencing, we are already seeing an influx of Asian investors into Australia seeking opportunities to deploy their capital. Williams Landing Shopping Centre is expected to draw significant interest from the Asian investment front due to its diversified income profile and expansion land, offering safe fundamentals now and strong uplift in the future.”