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Case Study Retail Leasing: Woodlea Town Centre

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Challenge

The Colliers Retail Leasing Team were appointed by our valued client to lease Woodlea Town Centre, a development that comprises of more than 20 mixed-use tenancies in the Victorian Western Growth Corridor. The Projects Retail Leasing Team partnered with the development in late 2018, providing information and guidance in the planning stage, along with expert advice in regard to the tenancy mix and optimal retail layout. With the difficult retail market that was caused by COVID-19, Colliers’ expert advice and strategy ensured that all offerings were leased by preferred tenants. The community, located 29km north-west of the Melbourne CBD, has experienced overwhelming success since its launch and has been recorded as Australia’s fastest selling community.

Strategy

The leasing strategy was to capitalise on the thriving established community surrounding Woodlea Town Centre. The impact of COVID-19 induced lockdowns lead to localised demand, causing many CBD and fringe F&B tenants looking to the growth corridors for their expanding businesses. Due to the limited enquiry from online sources during the pandemic and having the industry knowledge of inner-city operators looking to expand, the team utilized connections and existing relationships to drive interest, thus allowing for direct marketing approach towards established and expanding operators.

Results 

The Projects Retail Leasing Team successfully leased all retail tenancies within Woodlea Town Centre, providing a unique and desirable tenancy mix, with the majority of deals finalised during hard lockdowns.

Testimonial

“The Colliers Project Leasing Team were a key stakeholder in the success of Woodlea Town. Their involvement started in the planning stage, assisting in determining the optimal retail layout and providing expert advice on tenancy mix and campaign strategy.

It was made very clear as to what process Colliers would take in order to deliver the best possible result and we were confident how our asset would be presented to the market. In what has been a very challenging retail environment due to COVID-19 restrictions, the Colliers team worked proactively to secure a fantastic mix of tenants and negotiate favourable terms to ensure long term success of the asset.

Adam and his team remained committed throughout the process and provided excellent transparency during the campaign. This gave us full confidence that we were securing the best possible result for the centre and the Woodlea community.

We would like to thank the Colliers team for the excellent service they’ve provided, in order to deliver this asset to its full potential, and we look forward to working with them again in the future.”


Matthew Dean
Project Director
Woodlea


Related Experts

Adam Lester

Director | Retail Leasing

Melbourne

Adam is the Victorian Retail Leasing Team Manager with over 6 years of retail leasing experience.  He specialises in delivering leasing strategies for major retail projects and retail properties throughout Melbourne CBD and wider Victoria.

Adam’s experience in this sector has allowed him to form exceptional relationships with major national retailers and gain expert knowledge ranging from lease negotiations to providing advice on tenancy mix and design.

Adam’s specialist skills include:

  • Retail Lease negotiation and transaction

  • Strategic business positioning and repositioning

  • Marketing campaign strategy and implementation

  • Master planning and project leasing

  • Review of retail assets & rent reviews

  • Specialising in Shopping Centre, Project and strip retail leasing

  • Review of retail assets and rent reviews; and

  • CBD, Shopping Centre and major strip retail leasing

KEY PROJECT LEASING APPOINTMENTS:

  • Woodlea Town Centre, Rockbank

  • Melton South Shopping Centre, Melton South

  • Armstrong Creek Town Centre, Armstrong Creek

  • Arden Gardens, North Melbourne

  • Pacific Werribee

  • Tarneit Gardens, Tarneit

  • Manor Lakes Shopping Centre, Manor Lakes

PAST & PRESENT CLIENTS:

  • Australian Unity

  • Cbus

  • Coles

  • Commonwealth Bank

  • Frasers

  • Mirvac

  • Pacific Group

  • Perri Projects

  • Ranfurlie

  • Sandhurst Retail

  • Schiavello Group

  • Welsh Developments

  • Woolworths

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