St Kilda Road set for Woolies
Mirvac has secured Woolworths to a lower ground floor space at 380 St Kilda Road, which is about to undergo a $27 million refurbishment.
The supermarket intends to open a small-format store, or Metro, by 2024.
It would operate alongside a 1574 square metre outlet of this type, in St Kilda West – which Woolies renovated in March, 2019.
Its lease expires there in five years.
Coles, meanwhile, operates large scale supermarkets around St Kilda Rd’s commercial zone at Prahran and South Melbourne.
It also has a small store – which the company brands Local – in St Kilda.
That retailer trades from service stations in South Yarra and Windsor too.
“The new Metro will be tailored to local needs where they can enjoy a wider range of fresh food, convenient meal options, cooking essentials, as well as an easier, faster checkout experience, Woolworths Metro director, Justin Nolan, said.
“We’re excited to have the opportunity to launch a new Woolworths Metro shopping experience in 2024,” he added.
380 St Kilda Road revamp
At the north west corner of Park Street, also near the intersection of Domain and Albert roads, 380 St Kilda Rd contains 24,544 square metres over 15 floors.
Mirvac has owned the asset in its entirely since 2001.
The refurbishment was approved last year; the façade will also undergo an upgrade while the ground floor plane will be reconfigured with a better park aspect.
End of trip facilities will be added as well.
A retail and dining area is mooted for the ground storey too as is a co-work space, to be operated by Work Club Global, which is also taking a 14th level tenancy (story continues below).
“Work Club Global’s plans include a sophisticated new offering of meeting rooms, high-quality retail and function spaces to the revitalised ground floor,” Mirvac general manager, Office, Andrew Butler, said.
“Work Club Global has achieved great success at Olderfleet at 477 Collins St, delivering world class spaces alongside dining and entertainment venues that have attracted workers and visitors back into the city,” he added.
The office is near the Anzac station, part of the Metro Tunnel project, which will connect to Arden via Melbourne’s hospital precinct and two CBD stops.
Elsewhere in the street, Alfred Health is planning a six storey cancer research centre – St Kilda Rd’s first new office space in over 20 years – on a site it acquired last year for $31m, at #545.
That essential services giant also rented 541 St Kilda Rd – all up, 8247 sqm – vacated last year by Seek.
Kokoda lists Woolworths Malvern
Also this week, property developer Kokoda listed a Woolworths Metro – part of its Malvern Collective project which is under construction.
Containing 632 sqm, it will return starting annual net rent of $240,000.
It is expected to trade for more than $4.5m.
Malvern Collective is taking shape on a half-hectare site at the north east corner of Dandenong and Glenferrie roads, acquired for $41m five years ago from businessman Mark Rowsthorn.
Abutting Malvern train station the project will contain 265 dwellings and other ground floor retail.
Woolworths’ initial lease is for seven years; with options it can stay until 2051.
Stonebridge’s Kevin Tong and Rorey James are the agents.
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