Colliers presents, on behalf of Cross Yarra Partnership, a once-in-a-generation opportunity for retailers to help shape the future Melbourne with 37 tenancies on offer across five new stations, spanning nine kilometres traversing the city from north to south.
The Metro Tunnel’s new underground stations are set to redefine how Australians think about train station retail. A total of 3,900m2 of retail area is being brought to market for key tenants to anchor the new stations.
Colliers’ Adam Lester, Tom Larwill and Stacey Gaff have been exclusively appointed to lease the project on behalf of the Cross Yarra Partnership – a consortium comprising Capella Capital, Lendlease, John Holland, John Laing, and Bouygues Construction.
“The opening of the Metro Tunnel in 2025 will be a milestone for Melbourne’s train network, adding five new underground stations at Arden (North Melbourne), Parkville (medical and education precinct), State Library and Town Hall in the CBD and Anzac (tram and train interchange) on St Kilda Road,” Lester said.
“To cater to the thousands of people that will move through the new stations every day, we will deliver high-quality retail space for Melbourne’s favourite retailers, ensuring an enjoyable and exciting commuter experience.”
Town Hall Station – City Square (concept)
Construction is well underway on this city-shaping project, which will create a new end-to-end rail line from Sunbury in the west to Cranbourne/Pakenham in the southeast. On top of this, the project will allow for a greater capacity of trains throughout Melbourne’s CBD and will accommodate the planned Melbourne Airport Rail, which is set to be delivered in 2029.
“Each station has its own unique character, which will inspire the types of retail on offer. From the bustling, non-stop action at Town Hall (CBD) to the leafy green streets around Parkville, stations will represent the best of the Precinct. Whether it’s your favourite sandwich shop for a quick bite, a boutique grocer for that last-minute shop, or steaming-hot noodles as a late-night snack,” Lester said.
Town Hall Station – Concourse top
“The evolving landscape of our CBD has increased the reliance on retail amenity, particularly convenience-based retail,” Lester said. “In the delivery of such an incredible project to support our city’s growing population, the retail component will elevate the commuter experience and ensure Melbourne’s Metro Tunnel delivers a world-class asset for commuters.”
From an overall perspective, the retail sector has continued its positive trajectory across Australia, with monthly growth recorded in 11 of the previous 12 months to February 2023, according to Colliers Research.
“Retail spending remains close to over 20% above the pre-pandemic trend, as consumer demand remains strong throughout Australia,” said Colliers’ Associate Director of Research Nik Potter.
The new stations will open in 2025. Each station represents new opportunities to introduce visitors, local, interstate, and international to Melbourne neighbourhoods with a proud sense of local identity.
