Plans have been unveiled for a new $175 million shopping, dining, office and residential precinct at West End with a Woolworths supermarket announced as the anchor tenant.
Montague Markets and Residences will be the latest addition to Pradella’s masterplanned Riverside West End community, which is transforming the iconic suburb’s waterfront district.
Construction of the new lifestyle precinct is expected to start in late 2018 with the Montague Markets retail and dining component anticipated to open in mid to late 2020.
Brisbane Lord Mayor Graham Quirk joined representatives of Pradella and Woolworths today on the site at 405 Montague Road to announce the precinct details.
A new full-line Woolworths supermarket will occupy 3,400sqm on a long-term lease at Montague Markets, which will also feature 1,590sqm of specialty retail across 15 tenancies, alongside a vibrant 1,200sqm landscaped public plaza, central arcade and alfresco dining zone.
Montague Markets will have 292 underground carpark bays, pedestrian and cycling paths and bike storage facilities.
A commercial hub will offer 1,311sqm of office space, with a 75sqm community space included for flexible work arrangements and study.
Montague Residences will consist of two residential towers comprising a total of 181 apartments and 1,300sqm of exclusive resort style amenities.
Pradella Director Kim Pradella said Montague Markets and Residences represented an integral piece of the company’s vision for the $1 billion Riverside West End community.
Mr Pradella said Montague Markets would provide much needed convenient shopping, dining, leisure opportunities and other services for the rapidly growing riverfront region of West End.
“Montague Markets will be an excellent fit for West End with a market-style ambience that extends the suburb’s thriving foodie culture closer to the river,” he said.
“It will also introduce the region’s laneway culture to this precinct by extending Tondara Lane for community pop-up spaces and a 200sqm public art piece that will further showcase the personality of West End.”
Mr Pradella said he was especially pleased to welcome Woolworths as the anchor tenant of Montague Markets, providing a vital additional service for thousands of local residents.
Woolworths’ Regional Property Manager, Phillip Peel, said the company was delighted to secure a key retail tenancy in the development as the growing population indicated clear demand for a full-line supermarket.
“At Woolworths, we pride ourselves on delivering high quality produce at great value for local residents,” Mr Peel said.
“We are delighted to be part of the Montague Markets development and are excited that local residents will soon have access to one of Australia’s most modern supermarkets.”
Montague Markets and Residences will be Pradella’s fourteenth project in West End and complement other key components of its masterplanned Riverside West End community, which is already home to more than 3,000 people in a range of modern apartment buildings.
Mr Pradella said Montague Markets would provide a new lifestyle destination where West End residents and visitors could meet to shop, dine and relax in a great location.
“We look forward to starting construction of this project and making further announcements about other future tenants coming to Montague Markets.”