October 23, 2025 - National Retail Group

$150m Rathdowne town centre set for build-start anchored by Coles supermarket

Category : Development

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AColes supermarket, 25 specialty stores, a 120-place childcare centre and medical, health and wellness precinct will anchor a new $150 million town centre in the heart of Wollert in Melbourne’s north.

The centre will be developed by National Retail Group (NRG), a specialist retail asset services company led by Michael Spektor and backed by high net worth private family offices.

Centrally located within Villawood Properties’ award-winning 1000-home Rathdowne project, with bike and pedestrian paths linking it to Rathdowne’s neighbourhood precincts, the facility will serve as an important retail and community hub, catering to the growing demand for local services.

“This long overdue project will be a contemporary shopping and community experience that will serve the needs of Rathdowne residents as well as families throughout Wollert for many years,” said NRG CEO Michael Spektor.

“We are moving quickly to progress plans for the Rathdowne retail centre which will service this growing community in an area that is crying out for amenities.”

“Our team has ensured that the tenant mix will deliver the services that local residents would expect, while also positioning the property to service the broader Wollert area.”

“It will be a one-stop convenience hub for shopping, community and cultural activities.”

NRG, which was founded in 2019, is overseeing all aspects of the project from design and construction to leasing and management.

The retail centre will service an existing resident population of more than 900 and more than 3000 when the 1190-lot Rathdowne master plan is fully delivered.

Sandhurst Retail and Logistics has been overseeing the project.

SRL chief executive Clinton Tilley said the new town centre would be a high end, architect-designed facility that responded to the needs of Rathdowne residents.

“This is geared to meet the everyday needs of health and community services,” he said.

“It’s purpose-designed, responsive and sophisticated, and will add value to both the lives and assets of Rathdowne homeowners.”

Villawood CEO Alan Miller said the centre would complement the Rathdowne residential project’s holistic community model, including the UDIA Great Place-awarded Club Rathdowne with its café, gym, pool, sport courts, family and function facilities.

“We are pleased that this long-awaited project will soon come to reality to complete Rathdowne as a destination master planned community,” he said.

“It’s an important part of the big picture. Rathdowne has everything – beautiful parks, conservation reserves and cycling tracks to retail and schools, and more.

“These all contribute to a lifestyle you don’t find in other greenfield communities. The new town centre is the icing on the cake at Rathdowne that completes the model of a fully functional and well-connected community.”

Construction on the town centre is slated to start in May 2026, and will generate 150 construction jobs, injecting $65 million into the local economy. The centre’s operations will drive a further 300 ongoing retail jobs.

Two other Victorian town centres are confirmed to be in advance stages of sale.

Sunbury South Town Centre, Corner of Sunbury Road, Sunbury Victoria and Armstrong Creek Town Centre, Surf Coast Highway, Armstrong Creek Victoria where offered to the market earlier this year by Tim McIntosh & Will Heffernan of Colliers and Julian White & Justin Dowers of Stonebridge.

When asked, Julian White of Stonebridge provided the following statement to COMMO, “Under instruction from the vendor, we confirm the properties you reference, (Sunbury South Town Centre and Armstrong Creek Town Centre) are in advanced stages of sale, with highly reputable developers. These projects will allow activation of retail amenity to surrounding residential communities.

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