New Woolworths part of $100m Glen Iris project

Woolworths is set to build a new supermarket in Glen Iris, following the sale of a prominent commercial site currently home to household name Arnott’s Biscuits.

The 4305sq m landholding at 173 Burke Rd was purchased by Woolworths in partnership with Melbourne-based developer Time & Place.

The property, 500sqm of which is leased as the Victorian offices of Arnott’s, sold for an undisclosed sum in the deal.

No. 173 Burke Rd, Glen Iris, is right near Central Park.

Woolworths state development manager Don Foulds says a “state-of-the-art, full line Woolworths supermarket” will be installed on the site, which is currently leased to a mix of seven tenants.

“We’re excited about the opportunity to deliver a high quality mixed-use residential and retail development,” Foulds says.

“We look forward to engaging with the local community on our plans later this year, ahead of lodging a development application.”

Time & Place principal Edward Pearse says the redevelopment, set to be worth over $100 million, will be done in consultation with Stonnington council and local residents.

Pearse says more details about the project will become available “in the next six months”, following community consultation.

“We understand there is a really strong community that we need to connect with, talk with and add to,” Pearse says.

The redevelopment will cost upwards of $100 million.

“Our strategy to acquire and deliver multiple new projects is timely in the current environment, as the government looks to the construction industry to support economic recovery,” Pearse says.

The sales campaign was run by Colliers International and Alexander Robertson.

This article from The Herald Sun originally appeared as “Glen Iris: New state-of-the-art Woolworths part of $100m project”.