Price is right for Woolies
$25m deal at Sovereign Hills site
The developers of Sovereign Hills have secured Woolworths to anchor its town centre as it prepares to release the first stage of its residential development early next year.
The Lewis Land Group is rolling out its infrastructure for the site on the western outskirts of Port Macquarie in perparation for an April land release.
Group director Robert Yandell said the blue-chip retailer would anchor the development’s $25 million convenience retail complex.
Woolworths has pre-committed to the group’s $1 billion Port Macquarie development, signing a 40-year lease for a supermarket in Sovereign Hills town centre.
The Woolworths site will comprise a full-service 3800m2 supermarket with a petrol station and parking for 410 vehicles.
“It will be the basis for the beginning of the town centre, effectively,” Mr Yandell said.
Woolworths group north property operations manager Anthony Mellowes said the supermarket was expected to open in 2009.
“The other big thing from the Woolworths perspective is we are very much into environmentally friendly developments and this will be one of them,” he said.
The supermarket will employ 100 staff in its construction phase and 100 people on-going in the store.
Mr Mellowes said Woolworths was confident in Port Macquarie and its growth.
“We can’t sit back and wait,” he said. “We want to go in early and make sure everything grows around us.”
Woolworths regional property manager Kayn Miller said the store would be “at the heart of that town”.
The first stage of the Sovereign Hills retail area will comprise Woolworths, nine specialty stores, a kiosk, outdoor cafe and a food hall.
Original article was written by Simone Plews and appeared in the Port Macquarie News on 16 November 2007.