Retail First confirms Woolworths’ 10 Year Lease at Toowong Village
Retail First Pty Ltd today announced that the Woolworths Group has agreed to enter into a 10 year lease at Toowong Village. Toowong Village owner, YFG Shopping Centres, and management company, Retail First, are pleased to welcome Woolworths; an addition that will continue to meet the changing needs of the shopping centre’s customers and the broader community.
The new Woolworths supermarket will take the place of David Jones, with the retailer to relinquish its lease at the shopping centre in mid-2021.
The new supermarket is a 4,050 square metre store located on Gallery Level. The store will be Woolworths’ newest format layout focusing on an expanded fresh food experience. The works to create the new store are planned to commence mid 2021, with an anticipated opening of late 2022.
Retail First Managing Director, Mr Steven Bridges said this will be welcome news for traditional Woolworths shoppers.
“We have been keen to secure Woolworths into Toowong Village since their long trading store opposite the Village closed on the 1st January 2017. Woolworths’ commitment demonstrates industry confidence in Toowong Village, and further complements the Village’s strong trading fresh food hub.
“We recently conducted customer surveys and paid close attention to what our customers would like to see in the shopping centre. David Jones relinquishing the current lease has created an opportunity for us to strengthen our grocery offer and meet the needs of the community,” Mr Bridges said.
“Together with our strong trading Coles supermarket and the existing fresh food offer including Fruity Capers & Deli, Village Meats, Bakers Delight, Health Squared, Vintage Cellars and Liquorland, Toowong customers will have the best fresh food and grocery offer in inner and west Brisbane.”
Woolworths State Manager Mr Chris Peters said that they were delighted to be joining Toowong Village.
“The new full line supermarket will generate 100 jobs for the local community on completion, joining the more than 30,000 Queenslanders who work with the Woolworths team statewide. We look forward to delivering to the local Toowong community a convenient shopping experience and can’t wait to welcome customers into our store in the near future,” Mr Peters said.
The addition of Woolworths will coincide with travelator upgrades and works across the three-level shopping centre, signalling another step forward, since the centre’s $50 million refurbishment completed in 2015.
“The changes enable Toowong Village to capitalise on the suburb’s growth in apartment living, the planned Town Centre mixed-use development opposite Toowong Village, and the Council’s proposed Green Bridge from West End.”
Mr Bridges said the residual space on Level 1 has had strong interest from large footprint retailers, and that Retail First will make further announcements once negotiations are finalised.
Toowong Village is owned by YFG Shopping Centres and managed by Retail First Pty Ltd.