- HOW THE STORY BROKE: South Nowra Masters will not open - Woolworths
IN less than 24 hours after the news the South Nowra Masters store would not open it is understood at least four multinational companies have expressed an interest in the location.
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The South Coast Register was told major retailers, Costco, Amart, either sports or furniture, The Good Guys and Big W have all listed interested in using the yet to be finished building.
The area is zoned for at least three of these operations.
It is understood the Masters building which was to have a gross floor area of approximately 13,134 square metres could be divided with a number of tenants, maybe even as many as eight may be housed in the complex.
Woolworths through Masters has a lease on the location for 15 years, so that would have to be worked out with the property owners.
There are suggestions Woolworths may keep the leasing arrangement and sub-lease out to other companies.
While The Good Guys have not confirmed it yet, The Register believes its lease on the building in Central Avenue, South Nowra expireds in coming months, with the electrical outlet rumoured to be looking for a new location.
In August last year the Register reported about a Facebook post by Integrity Real Estate which sparked speculation the Nowra CBD business Spotlight was looking to move to The Good Guys location.
The post simply said “Spotlight to move to South Nowra?”
Spotlight was contacted at the time but did not comment.
The Register understands Spotlight’s lease will expire some time this year and had heard from staff at the local store the company had been looking for a different location for its Nowra operation for a number of years.
It is also understood staff were told after the story broke on social media the business would be moving to South Nowra and arrangements were being made to accommodate them and their needs.
It is understood the company requires at least a 3000 square metre site.
The move would cast a shadow over the future of the historic building in which Spotlight is located in, in the Nowra CBD, which was formerly tenanted by Woodhills, Youngs and Grace Bros in Berry Street.
The building is owned by an Australian family investment company, based in Queensland.
It is understood there has also been expressions of interest on the historic building.
Woolworths, Costco, The Good Guys and Amart Super Furniture were contacted for comment.
