Woolworths, Ritchie’s Supermarkets Lodge Plans to Open in Phillip Island

A Bass Coast Shire Council representative confirmed it is reviewing a development application by Woolworths.
 
The proposal comes as council reviews another application involving rival Ritchie’s, to develop a 2,500 square metre supermarket and some 700 square metres of specialty retail on a site almost adjacent to Boomerang, on the corner of Church Street (the former Hollydene Homestead site).
 
To date, supermarket giant Coles has had a near monopoly on the island.
 
Plans to redevelop the Boomerang site come months after Woolworths purchased Bright’s Star Hotel site on the corner of Gavan Street and Star Road in north-east Victoria. It has already starting developing a new shopping centre around the hotel, which it hopes to open by Christmas.
 
Last December, Woolworths paid Brookfield Multiplex about $12 million for a vacant 1.1 hectare site in Highett, near the Southland Shopping Centre. This site is earmarked for a shopping centre and apartments.
 
Woolworths also recently purchased a portfolio of stores from organic supermarket chain Macro Life Australia.
 
Former Macro stores in Armadale, Black Rock, Glen Waverley and Richmond will be rebranded as “Thomas Dux Grocer”, the name for Woolworth’s premium supermarket brand.
 
Woolworths has been one of the stars to buck the trend this reporting season. Earlier this week it reported sales growth of $3.4 billion to $49.6 billion for the financial year, up 7.5 per cent.
 

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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