- Retail centre anchored by Woolworths and Dan Murphy's
- 13,500 sqm warehouse was originally a 1950s woolshed
- Demand for retail expected to increase in line with Fishermans Bend’s growing local population
Goodman Group (ASX: GMG) has completed a new retail project at Fishermans Bend, Victoria, transforming an old vacant warehouse into a modern retail centre anchored by Woolworths and Dan Murphy’s.
Originally a 1950s woolshed, the 13,500 sqm warehouse is located directly opposite the Port Melbourne secondary school, which is currently under construction.
Goodman said this project is a showcase in successfully repurposing older warehouse assets, with demand for retail expected to increase in line with Fishermans Bend’s growing local population – expected to reach 80,000 by 2050.
“We are committed to breathing new life into the broader Fishermans Bend precinct and the delivery of new retail is a critical part of that ambition,” said Jason Little, General Manager Australia, Goodman Group.
“This project provides important new amenity to the community and highlights the untapped potential of older warehouses in the precinct.”
Mr Little noted that this project and the gentrification of the site was the result of ongoing collaboration with a range of stakeholders including the City of Port Phillip, Fishermans Bend Taskforce, the Department of Environment, Land, Water and Planning and local community groups.
“Our strategy is to own assets in markets where barriers to entry are high, supply is limited, and demand is robust. We also believe that regenerating existing brownfield sites will have the lowest impact on the environment, by intensifying urban locations,” Mr Little concluded.
The Fishermans Bend precinct is one of Australia’s largest inner city, urban renewal projects. With 40 hectares of holdings within this precinct, Goodman’s assets are located 2.4 kilometres from the Port of Melbourne and 5.1 km from the CBD – providing easy access to large consumer markets.
Like many other companies recently – Goodman pursued environmentally friendly practices in this project. It included a range of sustainable design choices, including reuse of structural materials from the original warehouse, minimisation of construction waste to landfill, and energy-efficient design to all ensure the negligible environmental impact of the project.