The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
URBAN LEADER AWARDS ARE BACK! START YOUR NOMINATIONS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
24
print
Print
RetailRenee McKeownFri 09 Jul 21

Investor Picks Up $500m Town Precinct from Woolworths

3eeb0ef1-27ed-4614-a04d-a7555c796c32

Occasio Projects says it will get to work immediately after buying the $500-million mixed-use Mernda Town Centre development from Woolworths.

The development planned for the 27ha site includes a shopping centre, medium-to-high-density residential lots and an employment park on the corner of Plenty and Bridge Inn roads, 25km north of Melbourne.

The acquisition was backed by Occasio Projects founder Ray Zelouf, the Dorman Capital family office and Jensz Investment Company.

The $110-million stage one of the project includes the Mernda shopping centre, with Woolworths as an anchor tenant and 35 specialty retail shops. It is scheduled to open in mid-2022.

ā–² Woolworths remain as the key anchor tenant to deliver a full-line supermarket at Mernda Town Centre now owned by the Melbourne-based investment company.


Eventually the development would include retail, commercial, entertainment and residential, delivered over stages during the next five years.

Plans were approved in 2017 by the City of Whittlesea with provisions for the Mernda Rail extension project and housing options for the region.

The council is a foundation stakeholder in the project and plans to add a learning and well-being facility as well as restore historic Mayfield farm as part of the development.

Related: Grocery Giants’ Demand Drives Logistics Pipeline

ā–² Key faces in the Mernda Town Centre development are Nicholas Dorman, Ray Zelouf, Chris Eddy, Danielle Green, Craig Jensz and Don Foulds.


Occasio Projects managing director Ray Zelouf said the Mernda project was one of a growing number of projects within its $1.4-billion portfolio.

ā€œOccasio provides both debt and equity solutions across its portfolio and we are progressively playing a more active role as development partner across a growing number of these investments,ā€ Zelouf said.

ā€œOccasio investors will have the opportunity to participate in a high-quality asset in Melbourne’s northern growth corridor, which will benefit from sustained population growth and rapid development.ā€

The adjacent Mernda station designed by Grimshaw recently won a commendation in the Victorian Architecture Awards for sustainability.

RetailAustraliaMelbournePlanningPlanningSector
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Exclusive

Soheil Abedian: What’s Driven the Man Who’s Transformed a City

Phil Bartsch
7 Min
Exclusive

Robots Not a Miracle Cure for Housing Productivity Crisis

Vanessa Croll
6 Min
Exclusive

Where 600 Wealthy Families Are Putting Their Millions

Taryn Paris
6 Min
Brique Projects EDM
Exclusive

Brique Thrives in Cauldron of SE Queensland Development

Clare Burnett
7 Min
View All >
Salvos Coliving EDM
Residential

Investa, Salvos Reveal Co-Living Plan for Sydney CBD

Clare Burnett
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

The super-backed developer and investor is planning a $1.1-billion precinct across the 62ha site…
LATEST
Salvos Coliving EDM
Residential

Investa, Salvos Reveal Co-Living Plan for Sydney CBD

Clare Burnett
2 Min
Scape PBSA Kingsford EDM
Exclusive

It Takes More Than a Room: PBSA Evolves to Meet Student Demands

Clare Burnett
7 Min
Industrial

ISPT Files Plans for Dandenong Mega-Logistics Project

2 Min
Infrastructure

Invest Gold Coast Launches Hunt for $500m Arena Partner

Renee McKeown AND Taryn Paris
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/occasio-mernda-town-centre-development