WESFARMERS owned Coles Group is speculated to be paying around $13 million for an as-yet-undeveloped, approximate 4200 square metre supermarket in the ritzy Bay Street, Brighton retail strip.

Sources say Coles is purchasing the space off ASX listed Abacus Property Group, which is proposing a mixed use village for the site on the south-west corner of Male Street.

The property, for a couple of years now a block of dirt behind a fence, was earmarked for a $38 million office and retail complex, however it’s understood a new complex with a residential component is now proposed.

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