Target Australia Moves Into New Headquarters in Williams Landing
Late last week, Target Australia moved into its new eight-storey headquarters within the Williams Landing master planned community. Developed by Cedar Woods, the new building comprises 12,960 sqm pf A-Grade commercial space accommodating 850 Target employees and featuring a ground level cafe. The new building was completed by Hacer Group in November 2018
Williams Landing is located in Melbourne’s booming western corridor and has been designated as a Priority Development Area by the Victorian Government. According to Cedar Woods, Target’s move to Williams Landing reflects the area’s attractiveness as a growing commercial destination and will support job creation, benefit existing local businesses and attract other leading companies to the area. Upon securing Target as the anchor tenant for 10 years, Cedar Woods sold the building to Centuria Metropolitan REIT for $58.39 million.
Situated in the heart of the Williams Landing Town Centre, Target’s new headquarters is located directly opposite the Williams Landing Train station, providing employees with a 28-minute express service to Southern Cross Station. Employees are also within walking distance of the Williams Landing Shopping Centre, including Woolworths and a variety of licensed restaurants.
Target’s move to Williams Landing was celebrated on site at a ribbon cutting ceremony to mark the significant milestone with Wyndham City Council Mayor, Cr Mia Shaw, and representatives from Cedar Woods, Centuria Metropolitan REIT and other key stakeholders present.
Target’s relocation has been a catalyst for further growth at Williams Landing, with Cedar Woods recently stating it has a pipeline of over 20 commercial and residential sites in the Williams Landing town centre.The developer previously announced the completion of pre-sales at 111 Overton Road strata offices, currently under construction, and the pre-sale of 107 Overton Road to Hellenic Property Investments, which is fully leased to the Victorian State Government.
The opening of the Target Australia HQ caps off a big week for Wyndham, following the announcement last week of a new Western Melbourne team entering the A-League competition, and with it investment in a new 15,000-seat stadium and wider mixed-use precinct as part of a major urban renewal undertaking in Tarneit.
What they say...
“We’re extremely excited to welcome all 850 Target employees to their new premises in Williams Landing. This is the first of three commercial office buildings under development in the area which has become an emerging commercial precinct outside of Melbourne’s CBD.
With the rise in economic activity and more commercial buyers looking and investing in the west, it’s encouraging to see Williams Landing becoming a thriving commercial hub in Melbourne’s western fringe.
Target’s relocation represents an exciting time for the Williams Landing community. Due to the ongoing strength of the suburb, with its affordability and growth prospects, Williams Landing is becoming increasingly attractive to purchasers, investors and businesses alike.”
- Lloyd Collins, Cedar Woods Victorian State Manager
"On behalf of my councillor colleagues and the people of Wyndham I’m thrilled to officially welcome Target Australia’s National Headquarters to Williams Landing. This is a wonderful opportunity for our city.”
- Cr Mia Shaw, Wyndham Mayor
"We’re delighted to have Target Australia, which is backed by Wesfarmers, as a tenant for the next 10 years. This is a high quality, fit for purpose, first generation asset and it is a landmark project we’re proud to be a part of.
This is already proving to be a strong asset for Centuria Metropolitan REIT. We saw Williams Landing as an emerging metropolitan market twelve months ago when we purchased the property and have witnessed strong growth over this period.
We have a great working relationship with Cedar Woods, and we’re looking forward to doing business with them again in the future.”
- Doug Hoskins, Centuria Metropolitan REIT (CMA) Acting Fund Manager