A new Woolworths store is set to open at the Maryland Shopping Centre in 2023.
The supermarket giant has agreed to a 10-year lease at the site, with an option of 10 extra five-year terms, providing its owners complete a multimillion-dollar upgrade.
As part of the upgrade, the shopping centre will be redeveloped to provide Woolworths with a 4000-plus square metre block.
A new entry to Boundary Road and an extra 220 parking spaces will also be added.
The shopping centre was bought by a Newcastle-based syndicate for $7.5 million in 2017 after the previous owner went into receivership.
Gavan Reynolds, a spokesman for the syndicate, said the Woolworths deal was crucial to reviving the centre at 144 Maryland Drive.
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"Woolworths committing to the centre is further testament to the faith we have had in the centre and the community it serves," Mr Reynolds said.
"The area was under-serviced for everyday retail and to be able to create the environment we will for the locals and the retailers once the centre is complete is very exciting.
"We look forward to investing in the redevelopment of this centre and providing the western Newcastle communities with an up-to-date centre and a full line store."
Commercial Collective's Matt Kearney, who negotiated the lease, said an increase in traffic would benefit the centre's existing retail tenants.
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