After more than two years of planning, the highly anticipated Il Mercato Centrale will finally open to the public at 4pm on Thursday September 19.

The sprawling 3500-metre-square Italian food market runs over three levels in the landmark 1937 McPherson building near the corner of Collins and King Streets in the CBD. The $18-20 million renovation is set to host 23 artisanal food vendors, each focusing on a different specialty.

The group of producers – which are under wraps until the opening – work together rather than in competition, with just one breadmaker, one butcher, one greengrocer and so on. The ground space will feature a boutique bakery, coffee roaster, butcher, charcuterie station, handmade pasta bar, piadina maker, and cannoli purveyor.

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Upstairs will house a fine dining restaurant, cocktail bar, wine bar, bottle shop, distillery, gelateria, pizza ovens, a sushi spot, and a smash burger counter. The third level hosts a large function space designated for events, a farmers market, functions and other community gatherings.

There’s room for up to 3200 visitors at a time, with a licence until 3am, ensuring it will be a meeting place and cultural hub with free wi-fi and plenty of seating. Orders will be placed via QR codes, with centralised tech allowing customers to order a mix of goods to the table.

It’s the first location outside Italy for the popular food co-op, which has buzzy markets in Florence, Rome, Turin and Milan. The ambitious venture has been brought to Melbourne by hospo veteran Eddie Muto of Barman and Larder group (from St Kilda’s Flour Child and Southbank’s Left Bank), alongside general manager Gary Patikkis.

Il Mercato Centrale opens on September 19 at 4pm at 546 Collins Street, Melbourne. Visit mercatocentrale.com.au.