Continental supermarket expands in the south east
Market Europa has leased its third store, a former Vintage Cellars within Mount Waverley’s strata owned Pinewood Shopping Centre.
The 952 square metre tenancy, 1/2 Centreway, is costing the continental themed supermarket starting annual rent of $220,000.
The retailer also operates from Warrigal Road, Heatherton, at the Moorabbin border, where it was established in 2014, and Noble Park.
The Mount Waverley deal comes 18 months since another independent grocer, MarketPlace Fresh, which trades from over 10 Melbourne locations, paid $10.25m for a 4010 sqm ex-supermarket and car park at 25-29 Keilor Road, North Essendon, to occupy.
Mini major sticks to south east
The Centreway property – the ground floor of a double storey building – was offered in up to four parts, from 222 sqm.
Market Europa will utilise the existing layout: 673 sqm of retail, a 250 sqm warehouse, 29 sqm office and 23 sqm for amenities (story continues below).
It will also retain Vintage Cellars’ cool rooms.
CVA’s Daniel Philip and David Napoleone were the agents.
“Pinewood Shopping Village is just seconds from the Monash Freeway and Blackburn Road, and gains plenty of foot traffic with Coles and other retailers including Subway, Priceline and Waverley Cinema all on the doorstep,” they said.
Mount Waverley is about 16 kilometres south east of Melbourne.
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