FORGING A FOOTSCRAY REVOLUTION

FOOTSCRAY’S iconic Forges store has been sold to a group of mystery businessmen for close to $16 million, paving the way for high-density housing and new shops in the heart of the suburb. But Forges, which opened in 1898, expects to continue occupying some of the almost 1ha property, which fronts Nicholson, Paisley and Albert streets. Negotiations continue with the buyers - an unidentified group of local businessmen - about how the discount department store will continue operating, managing director Doug Zappelli said. “At this stage we won’t be moving,” Mr Zappelli said. “We’ll be downsizing the shop but we’ll be staying in the same place.” Mr Zappelli said the store was too large for the retailer and a space of 1000sqm was more viable. Real estate agent Joseph Carbone, who negotiated the sale, said the developers had plans for a mix of retail and high-density housing. The syndicate plans to develop the site in three stages, Mr Zappelli said. Footscray Traders Association president Lidia Cammarano said it was sad to see an institution go. “But it could be good for Footscray, depending on what they do,” she said. Maribyrnong Mayor Michael Clarke agreed. “(It is a) commercial decision (that is) completely understandable and we envisage it will create more opportunities.” Mr Zappelli said employees’ jobs were safe.