Retail to expand by 45pc
GEELONG’S retail sector is predicted to expand by about 45 per cent over the next two decades to meet population growth across the city.
More than a quarter of the new retail space is expected to be created in central Geelong, through higher or more dense developments.
Almost half — about 206,000 square metres — would be attached to supermarket-led centres, while restricted retailing centres would make up the other quarter.
An updated retail strategy, adopted by the city council this week, reveals the new offerings will be largely located the CBD, Bellarine Peninsula, Lara and Armstrong Creek.
While the expected demand through until 2036 is significant, new shopping centres are likely to be rare.
The preference is to expand or redevelop existing centres, with the potential to raise building heights in areas such as central Geelong, Corio and Lara.
Brownbill councillor Eddy Kontelj said more work needed to be done in the sector on suburban shopping strips, such as Pakington St and Separation St.
Among the retail centres identified for master plans is Belmont, which Cr Pat Murnane said needed further investment.
Cr Murnane said the strip and others like it could become “real jewels of the future” if properly enhanced.
“I think it can become the Pakington St south of the river in the next 10-20 years.”
Growth in the city’s north is likely to see a 5000-square metre development at Lara West, spearheaded by a full- line supermarket, to open sometime after 2020.
Mayor Bruce Harwood said the council needed to find ways to enhance the region’s retail offering to ensure shoppers’ money was spent locally.