Sydney Arcade to host 5th Woolworths Metro in the CBD
Investa has announced Woolworths as its newest tenant in The Sydney Arcade at 400 George Street.
It represents Woolworth’s fifth Metro store in the Sydney CBD.
Woolworths has committed to a seven-year term, over the 1,240 square metre basement space.
The lease includes two, five-year options.
The deal was negotiated by Alex Alamsyah from Knight Frank.
“Woolworths is a great addition to the retail tenancy mix at 400 George Street.
"Supermarkets traditionally favour basement-style space and this prime location at Pitt Street Mall is expected to attract even more customers to The Sydney Arcade,” said Michael Cook at Investa.
“It also reflects the emerging trend in CBD retail away from a complete reliance on fashion to incorporate more serviced-based offerings that appeal to city workers,” he said.
400 George Street is a 51,034 square metre office tower and retail arcade located in the centre of the Sydney CBD, jointly owned by Investa Commercial Property Fund, the M&G Asia Property Fund and funds managed by Mirvac.
The Sydney Arcade incorporates over 5,000 square metres of prime retail space accommodating a range of leading Australian and international brand including Adidas, Bally, Oroton and Ben Sherman.
Located within the Pitt Street Mall precinct, the tower has Telstra occupying over 40,722 square metres of office space.
Just next door 396 George Street, which sits at the intersection of King Street, has been listed for sale in Sydney’s premium retail precinct.
