8 SUPERMARKET GIANT WOOLWORTHS has been identified as the buyer of the Dunnet Properties owned Lakeside Shopping Centre at The Entrance through its property arm Fabcot Pty Ltd (See CCBR August 2023). Fabcot is reported to have paid just over $51 million for the 2.14ha site with frontages to The Entrance Road, Dening Street and Taylor and Warragal Roads and is undoubtedly a Key Development Site in The Entrance. The site is mostly undeveloped except for the shopping centre with a Gross Lettable Area of around 5,000sqm is anchored by a Coles Supermarket. The big question now is what Woolworths proposes to do with the site but it can be confidently assumed that they plan to make life uncomfortable for Coles which has been the anchor tenant since the centre was developed in 1980. Woolworth’s footprint on the Central Coast runs to 10 supermarkets while Coles operates 20 supermarkets and Aldi 11. Considering the operations of IGA supermarkets with 10 supermarkets and a few others, Woolworths’ market share on the Central Coast is around 10%. Nationally Woolworth market share is around 37%. (Note, the figures quoted do not include liquor stores) Also comprised on the property is a freestanding Liquorland store, one of many on the Central Coast owned by Coles. About 35 years ago Woolworths closed two supermarkets in the region. One at Toukley and the other at The Entrance. In 2002 Woolworths through Fabcot Pty Ltd acquired a 9Ha site along the railway line on Hakone Road, Woongarrah in 2002 with the intention of preventing the development of the Warnervale Town Centre proposed by Wyong Council with considerable community facilities including village shopping centre anchored by Coles. They even demanded that the state government relocate the Warnervale Railway Station to service their centre. They succeeded in killing off the developBUSINESS NEWS Woolworths buys Lakeside Shopping Centre at The Entrance Lakeside Shopping Centre, The Entrance IS YOUR BUSINESS STRUGGLING? Don't put your head in the sand ... www.shawgidley.com.au | (02) 4365 3344 Contact the team at Shaw Gidley for a free consultation Woolies Coles Aldi Bateau Bay SC x x x Blue Haven x x Budgewoi x Chittaway Bay x Erina SC x x x Gosford x Green Point x x Killarney Vale x Kincumber x Lake Haven SC x x x Lake Munmorah x Point Clare x Lisarow x x San Remo x The Entrance x Toukley x x Tuggerah SC X X x Umina Beach x x x Wadalba x x West Gosford x Woy Woy x x Wyoming x x Wyong x x TOTAL 10 20 11 ment of the Warnervale Town Centre and 20 years later the Warnervale / Woongarrah community, with a substantial population, has no retail or community services. The closest retail services are at Lake Haven Shopping Centre and Wadalba where both Woolworths and Coles operate supermarkets. CENTRAL COAST BUSINESS REVIEW SEPTEMBER 2023
RkJQdWJsaXNoZXIy MTI3ODI1