Woolworths sells Mernda Town Centre
Woolworths is set to sell the Mernda Town Centre for $50M after developer Land Capital entered an exclusive due diligence period.
Woolworths acquired the 24.9 hectare site in 2010 for just $28m and lodged an application with the Whittlesea City Council for a mixed-use development that will include a new 3,77sqm full-line supermarket and shops adjacent to a proposed new metro railway station.
Mernda is about 27km north east of the Melbourne CBD. The recent extension of the South Morang rail link now provides the Mernda corridor with access to rail transport direct to the Melbourne CBD.
The 24.9 hectare site will ultimate comprise a mixed use development including retail and high density housing.