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1 Woolworths Pivots Into Large Mixed-Use Development Projects

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hester.baxter
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01/02/2023, 16:02 Woolworths pivots into large mixed-use development projects

Exclusive Business Companies Commercial real estate

This was published 1 year ago

Woolworths pivots into large mixed-use


development projects
Carolyn Cummins
September 11, 2021 — 12.00am

Supermarket giant Woolworths has pivoted into property development in higher-density inner
suburban precincts with a proposed $200 million mixed-use apartment and retail project.

It is planned in the inner-city ring area of Waterloo, which is undergoing significant


redevelopment, and will include a mix of new retail, commercial and residential developments
with commercial space dedicated to a social enterprise organisation.

Major supermarkets traditionally lease sites, but they are now opting to own some property to
give them flexibility and control over the developments.

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01/02/2023, 16:02 Woolworths pivots into large mixed-use development projects

Woolworths is moving into owning mixed-use development sites. AIRPHOTO AUSTRALIA

The Waterloo project is one of the first in Sydney and complements the plans for similar
projects it has under way in Elsternwick and Glen Iris, Melbourne. In Perth, Woolworths
recently received approval to push ahead with a mixed-use project in Scarborough.
The group is also looking at a mixed-use development proposal for its landholdings near the
flagship supermarket in Neutral Bay in Sydney’s lower north shore. The proposal is still in
concept form, pending planning approvals. It has plans for a site in nearby Mosman, which are
still in the early stage.

Woolworths is a $50.5 billion ASX-listed supermarket operator and has a property portfolio
comprising large-scale distribution centres, warehouses and now mixed-use developments. In
June, it spun off its Endeavour pubs and drinks division.

Woolworths’s head of mixed-use development, Pierre Abrahamse, said the group’s vision was
to create a vibrant, well-connected and contemporary development, “which integrates
seamlessly with the broader Waterloo and south Sydney precincts”.

“We believe our plans align with the City of Sydney’s broader vision to reinvigorate and
transform the south Sydney area while delivering much-needed shopping and community
benefits for residents,” Mr Abrahamse said.

Known as the “Bourke & Young” mixed-use development at 923-935 Bourke Street, the site will
focus on offering sustainability and innovation in its design.

Woolworths’s proposal includes a new market-style full-line supermarket supported by


basement car parking and “direct to boot” facilities as part of new post-COVID-19 contactless
shopping practices.

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01/02/2023, 16:02 Woolworths pivots into large mixed-use development projects

Sydney architects Bates Smart have been commissioned to prepare two different concept plans
for the site and a community consultation process will commence shortly. If approved, it will
create 250 jobs during construction as well as about 290 ongoing retail jobs once complete.

The project will also have a percentage of the residential component dedicated to affordable
housing for key workers in the area.

There will be an array of convenient specialty retail shops, commercial and community space
and a mix of 1, 2 and 3-bedroom apartments, along with an open public plaza with pedestrian
connections from Bourke Street through to Young Street.
The projects will be developed with a builder but the ownership of the land gives Woolworths
the flexibility in the size and planning of the anchor supermarket.

Gabriel Metcalf, chief executive of the Committee for Sydney, said the proposal was in line with
the committee’s plans for much-needed housing that is close to public transport, with a proper
supermarket where residents can pick up the groceries within a short walk.

“We look forward to seeing the concept plans,” Mr Metcalfe said.

Mr Abrahamse said Woolworths’s development plans would contribute positively to Waterloo


and the surrounding precincts, creating convenient retail options and high-quality commercial
and community spaces.

“We’re confident we can deliver a vibrant mixed-use development that supports the City of
Sydney’s revitalisation of the area utilising innovative and sustainable design to create a great
place to live, work, shop and visit,” he said.

Woolworths will lodge a planning proposal with the City of Sydney in late 2021 and will engage
with the council and relevant agencies in the coming months.

Carolyn Cummins is Commercial Property Editor for The Sydney Morning Herald. Connect via Twitter or
email.

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