The Mernda Town Centre which comprises a Woolworths anchored neighbourhood shopping centre, and two surrounding development parcels is being offered for sale, separately or in- one-line. Adjoining the Mernda Train Station, the Mernda Town Centre is a master planned retail and mixed use major town centre strategically located in the core of the northern growth corridor of metropolitan Melbourne.

The property is for sale via international expressions of interest campaign by Stonebridge Property Group’s Julian White, Justin Dowers, Kevin Tong and Chao Zhang, acting under instructions from transaction advisor, Charter Keck Cramer.

A summary of the three parcels is below:

Lot 1 – Woolworths Anchored Shopping Centre and Pad Sites

• A 9,784 sqm shopping centre, with 470 at grade car parks
• Generating a net annual fully leased income of approximately $3.65 million
• Additional pad sites of 6,561 sqm for future development

Lot A – Mixed Use development parcel

• 120,190 sqm mixed use development land holding
• Highly suitable to core retail, large format retail, commercial and residential development outcomes (STCA)

Lot B – Retail development parcel

• 24,960 sqm land holding
• Very well suited to retail and health related development (STCA)

Since acquiring the property, the current owners have invested significant capital expenditure by way of road and civil infrastructure to create the three super lots, removing all future Development Contributions and Public Open Space requirements, as well as de-risking delivery of the balance of the site substantially.

The recently completed Woolworths anchored neighbourhood shopping centre has been delivered to an incredibly high standard and has demonstrated first year trade well beyond its age. 2 hectares of the town centre has also been sold to the State Government for the Whittlesea Community Hospital that is currently being constructed by Lend Lease.

Stonebridge National Partner, Justin Dowers said “Mernda Town Centre has been 10 years in the making and the first stage of the development has proven to be a huge success. There is now significant opportunity to deliver further retail and residential precincts in an established yet growing catchment area whilst benefitting from a strong performing neighbourhood centre.”

The Mernda Town Centre has a large and growing Main Trade Area of 66,540 persons with over 4,000 lots yet to be developed within the immediate catchment and well below average supermarket floor space provision. The Property also represents the last remaining site of its scale in the area with no other competition of relevance expected, creating a unique offering.

Stonebridge National Partner, Julian White said “Mernda has been the beneficiary of significant population growth of 8.4% per annum over the past 11 years. This has created a shortfall in retail capacity of the precinct, as well as demand for higher density residential opportunities. Both uses can be accommodated on the site and the existing fundamentals such as the adjoining train station, further support the future success”.

The properties are for sale via a Public Expression of Interest campaign concluding in November 2023.