Throughout FY16, $125.8 million of redevelopment projects were approved across the retail portfolio, with an additional $260 million in the pipeline.
We actively look for opportunities to enhance both our centres and their returns by refurbishing existing centres and redeveloping our properties, so they remain as dynamic shopping environments for the local community.
To see how these commitments come to life, scroll down to see the projects we currently have under development.
Mt Hutton NSW
Lake Macquarie Fair and Mount Hutton Plaza Shopping Centre are two adjoining but unconnected shopping centres in the Hunter region of NSW. Board approval was received in December 2015 for a redevelopment of the site.
Secret Harbour WA
The $58 million expansion and refurbishment of Secret Harbour Shopping Centre is underway, due for completion in early 2017.
An $18m refurbishment of the property was carried out which included a full refurbishment of the common areas including installation of new travelators, nee roofing and air conditioning and remising of the specialty stores. Both anchor tenants also completed store refurbishments at the same time. All works were completed by June 2015.
Sydney Street Markets
A $5m redevelopment of the property was carried out which included a 600 sqm expansion of the Coles supermarket, expansion and improvement of the centre car parking areas and construction of a new amenities block. The project was completed in December 2015.
Kangaroo Flat VIC
A $43m redevelopment of the centre was carried out which included replacing the existing Coles supermarket with a full line 4,275sq m Coles supermarket, carrying out a 1200 sq m expansion of the Woolworths supermarket and adding an additional 2100 sq m’s of specialty retail space. A full centre refurbishment and car park improvements were also completed. The project was completed in June 2015.