Stock­land com­mits to fur­ther ex­pan­sion

Townsville Bulletin - - News - by Martin Rasini martin. rasini@ townsville­bul­letin. com. au Cen­tre opens: page 28

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.

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‘‘ 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.

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