It is believed Coles will aim to have a supermarket built by the end of next year with tenders for the build to be advertised early next year.
Pellicano, in joint venture with local business Judd & Sons, has now sold two significant land parcels in Kaiela Business Park, located on the Murray Valley Highway, to major supermarket chains Coles and Aldi.
The larger lot, sold to Coles, measures 2.076ha in size; whilst Aldi snatched up the front 8,780sqm site.
The construction of the Aldi supermarket is currently underway with a store opening scheduled for December this year.
A Coles spokesperson confirmed that the supermarket giant will be coming to Yarrawonga and will create “plenty” of jobs throughout construction and opening.
“At Coles we are constantly evaluating our store network to ensure we are delivering the best shopping experience for our customers, and as part of that process we are excited about delivering a new supermarket for the Yarrawonga community,” the spokesperson said.
“The project will create hundreds of local retail and construction jobs and we’ll be sure to keep the community informed as plans for this development progress.”
In the meantime, minor intersection changes on the entrance at Franc Drive alongside the development will commence this week and will be completed by December 2024 for the opening of Aldi.
A Regional Roads Victoria spokesperson confirmed that a new left turn lane on both the Murray Valley Highway and Franc Drive will be built to improve the capacity of the intersection so more vehicles are able to turn out at the same time.
Works are expected to take around three months (weather permitting) and will improve sightlines and make it safer to turn into and out of the intersection.
These works are being managed and delivered by the developer, not the Department of Transport, as part of the planning permit for the new precinct.
When developers are delivering works on the road network, they are required to meet the strict standards set out by DTP’s technical guidelines.
“We’ve approved plans to make it easier and safer for everyone to access the new retail precinct,” Executive Director of Loddon Mallee Hume at the Department of Transport and Planning Anthony Judd said.
The original 12-hectare site, purchased in 2010 by the partnership was subdivided into a masterplanned estate, which has now seen the sale of all individual lots.
The strategic decision to invest in what was an underdeveloped parcel surrounded by a growing residential catchment has paid off, as highlighted by Pellicano's Managing Director Nando Pellicano.
"We welcomed the chance to purchase the site and are pleased with how Kaiela Business Park has grown into a hub for local and national businesses,” Mr Pellicano said.
Positioned at the main gateway into Yarrawonga, Kaiela Business Park offers excellent exposure and easy access with multiple estate entrances from Murray Valley Highway.
The substantial business park has attracted a variety of purchasers and occupants, including a mix of large-format retail and industrial warehousing, along with a childcare centre.
Notable buyers include Bunnings Warehouse, Toyota, Tradelink, Repco, and Ford, as well as a local buyer who has acquired the final two smaller lots.
These most recent and notable sales to Coles and Aldi underscore the business park's appeal.
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