Leases going fast as The Village prepares for expansion

ONLY several tenancies remain available for lease in the planned major expansion of Bacchus Marsh’s central shopping complex, The Village.

Property developer DeGroup is spending $22 million on the upgrade, which will add about 2400 square metres of retail and office space and is expected to be finished early next year.

“We’re excited to announce The Village Bacchus Marsh’s expansion to the community,” DeGroup chief operations officer Ben DeLutis said.

“The growing demand for retail in the regional township is huge and demonstrates the need for this significant $22 million investment in the centre.

“This has been further strengthened by the amount of leasing interest the project has already acquired, and we look forward to providing the community with further announcements as the project progresses.”

According to DeGroup, only a few tenancies are still to be leased and several “exciting” new retailers have already signed up.

It says the new-look complex will be a key contributor to the local community and will provide hundreds of job opportunities for locals both in the construction phase and when new stores are open and trading.

Major retailers like ALDI, Coles, Dan Murphy’s and The Reject Shop already operate out of the existing Main Street centre.

Details of The Village project coincide with news that a $100 million development anchored by Bunnings will be built at the township’s south-east gateway.

Construction is expected to start in the coming months and will involve two key projects.

The first will be a two-storey building located along Bennett Street on the boundary of the centre near Anytime Fitness.

The ground floor will consist of several retail tenancies ranging from 75sqm to 90sqm, suitable for a variety of uses including hospitality and retail.

Upstairs will focus on offering curated office spaces ranging between 50sqm and 108sqm, providing space for local businesses and startups looking for a modern set-up in the centre of town.

A number of tenancy configurations are available, with flexibility to amalgamate or subdivide spaces to accommodate a broad range of occupier needs.

Permitted uses include office, commercial, retail and medical, subject to council approval.

The second project will involve a reconfiguration of the southern mall near the Main Street entrance, adding two large retail tenancies of 960sqm and 183sqm.

Those tenancies will also offer flexibility in layout, with a potential for further amalgamation or subdivision – again subject to council approval – to suit operator needs.