Stockland commits to further expansion
THE listed Stockland Group has earmarked its Aitkenvale shopping centre for further development after completion of its present $ 180 million makeover in a mo v e t h a t w i l l e x p a n d f l o o r s p a c e t o a r o u n d 60,000sq m.
T h e p r o j e c t w i l l b e anchored by a national retailer and complement the present expansion, f r om 30,000sqhsm to 46,000sq m, which will deliver Townsville’s first Myer store and e x p a n d t h e n u m b e r o f specialty retail outlets from around 135 to 190.
Stockland chief executive commercial property John Schroder said yesterday the company was moving ahead with design and planning for a n a d d i t i o n a l 1 0 , 0 0 0 - 14,000sq m of floorspace in a new building to be developed on nearby 1.8ha landholding.
He said along with a major retailer the additional facility would feature a number of mini-major retailers and a food precinct along its frontage to Elizabeth St.
Mr Schroder, in Townsville for the official opening of his company’s new North Shore shopping centre, said the r e a t i o n a l d i m e n s i o n Stockland Aitkenvale.
Mr Schroder said the company expected to lodge a development application for the project in the second half of this year.
The project is earmarked for a parcel fronting Ross River Rd and Elizabeth St that housed the Kingsvale and Sunvale centres.
Mr Schroder said construction and merchandising of the $ 180 million extension now under construction was progressing well.
‘‘ We are noticing that, as reconstruction of the Aitkenvale centre progresses, demand from retailers is increasing,’’ he said.
‘‘ The retail lineup will include businesses exclusive to Stockland Aitkenvale and there will be new and exciting names, including unique cafes and high-quality apparel retailers.’’
The Myer outlet will take up 12,000sq m of t he additional space and the extension will have a concrete roof to support a second level.
The Aitkenvale centre is o n e o f t wo i n r e g i o n a l Queensland being r ef urbished by Stockland which is renovating its 56,000sq m facility in Rockhampton.
The company also operates shopping centres at Gladstone and Cairns.