Apple eyeing a $50 million megastore in Melbourne’s Federation Square

Apple is apparently in the final stages of negotiating a deal that will see it open a new $50 million megastore in Melbourne, Australia’s iconic Federation Square, almost a decade after it first started looking for an appropriate central city site, according to The Age.

Apple has three existing Melbourne stores, but they are based in Chadstone, Doncaster and Southland shopping centres. None are in the central city shop like its flagship Sydney locations, one in George Street and the other at Bondi Junction.

However, Apple has been in “lengthy and secretive” negotiations with Federation Square's management and the state government to take over and demolish the Yarra building in Federation Square, according to The Age. The Cupertino, California-based company plans to replace the unique "deconstructivist" metal building with a new $50 million see-through glass structure that will house its first Asia Pacific stand-alone megastore, the article adds.