The location for the new Target national headquarters has finally been revealed.

Developer Cedar Woods last week announced Target had signed a 10-year lease for a 12,600 square metre office over eight levels on the corner of Altair and Kendall streets in Williams Landing, opposite the Williams Landing train station.

Building will start on the $37 million development, which will house 850 employees, next month. The new headquarters are expected to be operational by Christmas next year.

In January, Star Weekly reported that Target was relocating its national headquarters from its Geelong base after 92 years to come to Williams Landing. Target would not reveal the location of the new site at the time.

Cedar Woods chief operating officer Nathan Blackburne said Target’s move to Williams Landing would likely encourage other big businesses to follow suit and relocate.

“Target’s move to Williams Landing signifies the increasing breadth and depth of economic activity occurring in Melbourne’s western growth corridor and reinforces Williams Landing’s appeal as an attractive and growing commercial centre,” Mr Blackburne said.

“We are seeing a number of businesses recognise the benefits of this new town centre.”

An analysis by economists MacroPlan Dimasi shows that the suburb has the potential to accommodate more than 13,000 jobs by 2031.