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Waurn Ponds expansion to open on 21 May 2014

Media
05 Mar 2014

Phase one of the $65 million expansion of the Waurn Ponds Shopping Centre in Geelong is scheduled to open 21 May 2014. When completed the regional shopping centre will consist of 35,000m2 of retail, offices and services.

The expansion is being undertaken as part of a joint venture between Australian Unity Real Estate Investment (AUREI) and Coles Group Property Developments.

Peter Lambden, AUREI’s head of property and asset management, said the completion of phase one of construction will see Coles and Kmart open for trading, in addition to approximately 36 specialty stores including a new Reject Shop, Priceline, a variety of new stores as well as a new food-court.

The expansion will also provide an additional 700 free car parking spaces, making 1930 in total.

“The opening of a new Coles superstore, which will be one of the largest in the state featuring apparel, babywear, kitchen and party supply concepts in addition to the new specialty stores and food court, will create employment opportunities in Geelong and boost the local community,” Mr Lambden said.

“The expansion will benefit the Greater Geelong area, not only through meeting residents’ retail needs but through the valuable creation of jobs.

“More than 200 jobs have been created during the expansion of the Centre and it is anticipated that more than 500 retail jobs will be created post expansion,” Mr Lambden said.

The expanded shopping centre will be well-positioned to respond to the needs of the growing population of Greater Geelong which is forecast to grow by 35 per cent reaching 298,000 in 2031*.

Coles State General Manager Michael Mackenzie said Coles is delighted to be investing in Geelong and has great confidence in the long-term future of the region.

“Once the store is completed, we will employ around 230 team members at the new Coles store.”

“We’ve created an offer for our customers that is designed to make shopping easy and we’re confident the Waurn Ponds community will enjoy the many features of the new store,” Mr Mackenzie said.

“With the introduction of the MIX Apparel range, Coles Cook & Dine cookware, a dedicated Baby & Toddler section and a wide range of party accessories, our local shoppers can buy everything they need for their weekly shop and more.”

The Joint Venture between Australian Unity Real Estate Investment and Coles has been a great success. The expected completion date for phase two is August 2014, which will see the addition of a specialty store mall including more fashion retailers.

Two days of opening celebrations at the Waurn Ponds Shopping Centre are planned for 21 May and 24 May 2014, featuring free family entertainment plus loads of prizes and giveaways on the Saturday.

About the Waurn Ponds Shopping Centre:

When completed, the expansion of the Waurn Ponds Shopping Centre is expected to cost around $65 million and will add 21,000m2 to the existing shopping centre. The completed centre will consist of 35,000m2 of retail space as well as offices and services.

Major retailers including Coles and Kmart will take up space in the expanded shopping centre, joining current retailers Target, Priceline and Woolworths.

Construction facts:

  • approximately 7,500m3 of concrete will be used, equal to around 1500 truckloads
  • 700 tonnes of structural steel is required to complete the new structure
  • 22,000m2 of roofing will be used, enough to cover around 180 average homes
  • 22,000m2 of bulk excavation will be removed, equal to approximately 2,300 truckloads
  • 900m2 of façade glazing is to be installed
  • 64,000m2 of paving will be laid, equivalent to 328 tennis courts (25,000m2 of internal paving and 39,000m2 of external paving).

For more information please contact:

Peter Lambden

Head of property and asset management, Australian Unity Real Estate Investment

Phone: 03 8682 4546

Email: plambden@australianunity.com.au





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