CRS Commercial have recently completed the landmark leasing of Melbourne’s first 2 level Supermarket to Woolworths Australia at the $2.8 billion Melbourne Square Project.
The store will be constructed over two levels, comprising 1,325m2 on the ground floor, and 2,610m2 on level one, providing a total area of ~3935m2.
This will be the largest Supermarket in the Melbourne/ Southgate precinct in the foreseeable future.
While the commercial terms of the Agreement to Lease are confidential, CRS can verify that Woolworths have recently confirmed their Boards’ approval to the two-level inner-city super store.
The transaction was negotiated by Myles Snow, Principal of Major Projects for CRS. “This was an outstanding opportunity to introduce a unique retail vision with innovative design to this area of Melbourne” he said. “It will provide a compelling story for launching both stages one and two as the project evolves over the next 12 months.” The stage two development date is yet to be announced.
He expected retail and restaurant interest in stage 1 to be extremely strong, given the overall unique design of the development along with the strong emphasis on quality urban design for the entire Melbourne Square precinct.