Goodman Group has completed an innovative new retail project at Fishermans Bend, Victoria, transforming an old vacant warehouse into a modern retail centre anchored by Woolworths and Dan Murphy’s.
Prominently located on the corner of Plummer Street and Graham Street in Port Melbourne Industrial Estate, the 13,500sqm warehouse was originally a 1950s woolshed. It is located directly opposite the Port Melbourne secondary school currently under construction.
Goodman Group General Manager Australia Jason Little says the property group is committed to breathing new life into the broader Fishermans Bend precinct.
“The delivery of new retail is a critical part of that ambition,” he says. “This project provides important new amenity to the community and highlights the untapped potential of older warehouses in the precinct.”
The Fishermans Bend precinct is one of Australia’s largest inner city, urban renewal projects. With 40 hectares of holdings within this precinct, Goodman’s assets are strategically located just 2.4 kilometres from the Port of Melbourne and 5.1 kilometres from the CBD – providing easy access to large consumer markets.
Goodman Group’s strategy is to own assets in markets where barriers to entry are high, supply is limited, and demand is robust, says Mr Little.
“We also believe that regenerating existing brownfield sites will have the lowest impact on the environment, by intensifying urban locations.”
A range of sustainable design practices were undertaken during the project, including reuse of structural materials and façade from the original warehouse, minimisation of construction waste to landfill, and energy efficient design.
Goodman’s project is a showcase in successfully repurposing older warehouse assets, with demand for retail expected to increase in line with Fishermans Bend’s growing local population – earmarked to reach 80,000 by 2050.