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.
The revitalised Wanneroo Central will see a new ALDI supermarket join the centre, providing shoppers with a new range of products and services. The development works also provide an opportunity to create a casual dining and town square precinct at the front of the centre, which will become a truly important part of the community for years to come. It will be a space for the community to come together, dine and connect.
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.
Secret Harbour WA
The $58 million expansion and refurbishment of Secret Harbour Square included the opening of one of ALDI’s first supermarkets in WA, the expansion of the existing Woolworths store, a new Coles supermarket, state-of-the-art facilities, additional car parking including shaded car parks, installation of WiFi capability and new dining options, all of which deliver an enhanced convenience focused shopping experience.