This article is from the Australian Property Journal archive
BROOKFIELD Properties has secured a food hall concept debuting in Australia, Locali by Romeo’s, for the retail component of its $2 billion Wynyard Place development, as commercial tower landlords look to attract workers back to the office.
Romeo’s Retail Group’s European-inspired Locali by Romeo’s will anchor the lower concourse retail level of the project, leasing 1,260 sqm on a 10-year lease term with two further five year options.
Connecting Wynyard station to George Street, Brookfield Place Sydney comprises a new 27-level office tower that topped out last year. It will deliver around 68,000 sqm of commercial office space and about 6,000 sqm of retail.
Locali will offer fresh produce and convenience offerings including sandwiches, salads and sushi, and hot pre-prepared meals, and feature a walk-in cheese room, fresh butcher and dry ageing room, commercial kitchen, dine-in restaurant, authentic fresh pizza, continental delicatessen, Italian bakery, sushi bar, florist, fish monger and a liquor store where customers can try the wine before purchase.
It will also offer cooking classes, flower arrangement tutorials, cheese and wine appreciation classes and other team-building and social activities.
“We are excited to bring style and innovation to what is a completely re-energised Wynyard precinct,” Bridget Fea, national retail director at Brookfield Properties said.
Locali will officially open its doors in mid 2021, with the broader mixed use precinct set to reach completion within months.
“This brand-new European market-feel grocer will deliver a refreshing new experience for Sydney CBD office workers and shoppers alike,” Joseph Romeo, owner and director of Romeo Retail Group said.
Office landlords have been getting creative in a bid to attract tenants to their towers in recent years, and high-profile and notable restaurant and café offerings have become commonplace in new and revamped towers.
They face a more difficult task in the post-COVID world. Sydney’s office occupancy remains at just 45%, according to a Property Council survey, while vacancies rose to from 5.6% to 8.6% over six months. JLL data showed a grimmer picture in the final quarter, showing Sydney vacancies at 11.9%.
Aside from Melbourne, all other capital cities have seen more than 60% of workers return to the office.
