Old Masters warehouse earmarked to become proposed retail supercentre
ST MARYS Masters site, in Forrester Rd, could become a retail shopping centre after Home Consortium signed an agreement to buy all the Masters sites from Woolworths.
The consortium, which comprises Chemist Warehouse, aged care operator Aurrum and the Spotlight Group, will acquire 61 stores and 21 development sites (700ha of real estate) for $800 million. It is reported the Spotlight Group alone bought 19 blocks of real estate belonging to the failed hardware chain.
Should all go to plan, the sites are earmarked to become multi-tenant largeformat centres featuring stores such as Dan Murphy’s and The Good Guys.
Many of the sites, which may include St Marys, could see development begin as early as May next year.
A Woolworths spokesman confirmed that all Masters sites, including the St Marys outfit, will cease trading under the Woolworths home improvement brand by December 11.
He would not confirm any further details.
In a statement released in August, Woolworths promised to “work hard to find Masters employees jobs within the group, or will pay full redundancy where suitable roles are not available”.