Woolworths targets CBD

THE Perth Central Business District is set to play host to a new supermarket following the sale by Woolworths of the vacant site between Murray Street Mall and Wellington Street.

Saracen Properties Ltd bought the property at 166 Murray Street for $9.85 million.

Saracen has submitted an application for development approval to the City of Perth for a 16,000 square metre four level retail complex incorporating a supermarket and other retail outlets on the 3,740 square metre site.

Woolworths has already pre-committed to a twenty year lease for 2,150 square metres of space on the ground floor of the development, creating the first major supermarket in the CBD for more than a decade.

Jones Lang LaSalle’s sales director Peter Agostino said the City of Perth was keen to see the site developed and Saracen saw the project as providing a much needed retail alternative for city shoppers.

“The supermarket will provide a service for commuters who want to shop for food and groceries before they get home, as well as servicing the growing number of apartment projects,” Mr Agostino said.

He said the new supermarket would be Woolworths first presence in the city centre since 1988.

The main entrance to the supermarket will be at ground level from Murray Street Mall via a short arcade that will also contain four or five specialty retail outlets.

The first level of the building will feature another four or five specialty outlets and a major retail outlet.

Construction of 166 Murray Street is expected to commence by September.

The opening is planned for late 2001, which is likely to coincide with the first stage of the David Jones development.

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