This article is from the Australian Property Journal archive
APARTMENT developer Finbar has secured Woolworths as an anchor tenant at its Civic Heart project in south Perth.
Woolworths has leased a 2,757 sqm space and will open a supermarket on the ground floor alongside smaller tenancies supporting food provisions, specialty shops and a café.
Woolworths has entered into a 20-year initial term lease with operations expected to commence in late 2018 following completion of the entire Civic Heart project.
The ground floor is part of a three-level 11,900 sqm Civic Heart retail and commercial podium positioned below the 38 level, 294 apartment residential tower, with an end value of $400 million.
“We are delighted to have secured a major national retailer of Woolworths’ calibre who is willing to participate in our project. Undoubtedly, their commitment will help to fulfil our objective of making Civic Heart South Perth’s most convenient and desirable place to live, work and shop,” Finbar managing director Darren Pateman said.
“There is currently no full-line supermarket in South Perth so we have always respected the importance of this project in providing a supermarket to support the growth aspirations of the suburb and for the success of our Civic Heart project as a whole,” Pateman added.
Australian Property Journal
