Woolworths Pays $22m for Rockbank Town Centre Site

Woolworths has acquired a 12.3ha stake in the proposed Rockbank North Town Centre through its development arm Fabcot, paying more than $22 million for the site.

The ASX-listed food retailer bought half of the 24.6ha landholding at 886-940 Beattys Road, Aintree, from developer and former Wyndham councillor Intaj Khan.

Khan has retained the northern 12.3ha portion that is slated for a $400-million residential and commercial development.

CBRE’s David Minty and Trent Hobart brokered the transaction following an unsuccessful 2024 campaign to sell the entire site.

Khan’s CountryLand Australia now plans to develop the retained parcel with a hotel, sports centre and student accommodation to complement Woolworths’ future retail precinct.

“It is great to be able to have the town centre realised for the local community, which is in need of another major retail centre to support the growing population here—along with the future residents expected from the Melton East Precinct Structure Plan,” Khan said.

The site forms part of the approved Rockbank North Precinct Structure Plan, which designates it as a future activity centre featuring retail, dining, entertainment and civic spaces (concept images below).

The Aintree-Rockbank region is tipped for 11.4 per cent annual population growth through 2026, making it one of Australia’s fastest-growing residential corridors.

Aintree’s median house price of $762,000 already exceeds neighbouring Rockbank, Fraser Rise and Caroline Springs.

Developments in the area include Mirvac’s 711ha Woodlea Estate, which houses around 20,000 residents, plus masterplanned communities by Villawood, Resi Ventures, Golden Age, Oliver Hume, 3L Alliance and CountryLand Australia’s nearby Rockbank Waters development.

Khan purchased the 24.6ha parcel in 2015 for around $16 million and said the acquisition has now generated returns exceeding $50 million.

Fabcot has been making a push into residential mixed-use developments lately, with a $175.3 million, 171-apartment project filed for Gladesville in Sydney’s Lower North Shore in November.

The development arm has also proposed a 110-unit project at Waterloo in Sydney’s south, along with a two-tower build-to-rent scheme for Albion in Brisbane.