A new revolutionary shopping centre development and the future epicentre of the Alphington community is on the market. The Village Alphington sale is an extremely rare opportunity to acquire a super neighbourhood shopping centre with significant growth potential. The landmark investment opportunity located just 6.5km from the Melbourne CBD is being marketed by Colliers International’s Lachlan MacGillivray, John Marasco and Tim McIntosh on behalf of Alpha Partners.
The Village Alphington will be anchored by two full-line supermarkets, Coles and ALDI, capitalising on a significantly under-serviced retail catchment approximately three times the size of a typical metropolitan supermarket catchment. With an approximate population of 75,000, forecast to grow at an average annual rate of 1.1% to reach more than 86,600 persons by 2031.
“This is an unprecedented investment opportunity to acquire a landmark, future inner metropolitan super neighbourhood centre located within Melbourne’s most innovative urban renewal project. The offering will comprise a brand new, built-form mixed-use shopping centre in a well established, affluent and rapidly growing catchment just 10-minutes from the CBD,” MacGillivray said.
Designed by NH Architecture, the centre will offer a secure, convenience-based, non-discretionary super neighbourhood shopping centre comprising 13,000m2 of retail lettable area and more than 10,000m2 of commercial lettable area.
“Testament to the calibre of the centre, location and the significantly under-serviced retail catchment, The Village Alphington has already secured significant pre-commitments from national and international tenants,” Marasco said.
The centre is located in the affluent inner metropolitan suburb of Alphington, approximately 6.5km north-east of the Melbourne CBD. Located on the corner of Heidelberg Road and Chandler Highway, this strategic corner site holds significant north-south links. The area is well serviced by road and transport networks which link the area to the CBD and surrounding amenities.
The centre, still under development, will form part of a 17ha master planned urban renewal project, which on completion will comprise 5,000-6,000 residents across 2,500 residential townhouses and apartments, over 4ha of community space and parkland, an aged care facility and serviced apartments. The Village Alphington, is expected to be trading by the end of 2021.
“The Village Alphington will be the epicentre of the new community and a landmark of Alphington. This significant urban renewal project will complement the well-established and dense existing population within the main trade area, underpinning the future performance and growth of The Village Alphington.” McIntosh said.
The Village Alphington is for sale via an International Expressions of Interest campaign closing Thursday 12 September 2019 at 2pm (AEST).
