The Village Square, Menangle’s retail development site, has been placed on the market.
Real estate agency Colliers has been appointed to manage the expressions of interest campaign for the site, known as The Village Square, Menangle.
Located at the centre of Mirvac’s master-planned community, The Village Menangle spans 1.16ha and is zoned E1 Local Centre, allowing for development of a neighbourhood retail facility incorporating food and beverage, health, childcare, and general commercial uses.
An indicative proposal for the site outlines a 3185sqm retail layout, anchored by a 1050sqm supermarket tenancy, a mini-major unit, specialty retail bays, and 178 parking spaces.
“The Village Square, Menangle presents a compelling opportunity to deliver a neighbourhood centre within a rapidly growing residential catchment.
“The combination of flexible E1 Local Centre zoning, a prominent position at the heart of the community and strong connectivity across the Macarthur region provides developers and retail specialists with the opportunity to create a centre that responds to the everyday needs of local residents,” said James Wilson, head of retail middle markets, Australia.
Located within the Greater Macarthur Growth Area in south-west Sydney, the property sits adjacent to Menangle Railway Station and near the Hume Motorway.
Regional trade forecasts indicate the surrounding population will grow from 5088 residents to 16,288 by 2046, with local retail expenditure projected to rise from $78.2 million to $541.4 million over the same period.
The sale process is being handled by Colliers representatives James Wilson, Joe Sacco, and Ben Wilkinson.
The expressions of interest campaign closes at 2.00 pm AEST on Thursday, August 27.
- Further reading: Coles-anchored Nambour Mill Village hits the market.
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