Geocon has secured a Woolworths Metro convenience store as the anchor tenant at its Republic precinct in Belconnen.
Canberra’s largest mixed-use precinct, Republic, includes over 1200 apartments, a 152-room hotel, a 500-space public car park and around 6000m square metres of ancillary office and retail.
Geocon says that with an unprecedented $350m of sales to date, the precinct is a highly desirable trading location.
Geocon’s Director of Commercial Sales and Leasing, Mark Nicholls said Woolworths was an ideal anchor tenant for the Republic precinct.
“This will add significant value to the precinct and attract a wide range of ancillary retailers, food and beverage operators and commercial tenants,” he said.
“Having a Woolworths Metro on the ground floor will make an extremely desirable location even more attractive for residential investors and live-in owners and we are expecting a surge in interest as a result.”
The announcement of the Woolworths Metro addition would continue to fulfil Geocon’s promise to provide residents with everything they need, right at their doorstep.
Geocon Founder and Managing Director, Nick Georgalis said the addition of Woolworths Metro into the precinct would ‘allow us to further deliver a luxury lifestyle in the heart of Canberra’s most vibrant town centre’.
First launched in 2013 in Woolloomooloo, Sydney, Woolworths’ small store format operate on an average footprint of around 600 square metres, are generally located near public transport, and offer a tailored range of products including grab-and-go solutions and ready-made meals.
Smaller stores are more about speed and convenience than basket size, with heavily urbanised areas considered as fertile ground for supermarkets.