Metroland Australia has received development approval from the Fairfield City Council its Greenway SupaCenta development at Horsley Drive, Wetherill Park.
The Greenway SupaCenta is the proposed consolidation of the three properties and its development to create a Bulky Goods Centre.
Two of the three properties, the Greenway Plaza and the Glendale site, are owned by Gaintak Investment Pty Limited of which Metroland has a 50% shareholding.
The third property, the Abruzzi Sport Club site, is wholly owned by Metroland.
The development consent is for the renovation and alterations to the existing Greenway Plaza and the construction of additional floor space of 28,400 sqm as well as 500 car spaces.
The SupaCenta, when completed, will have a total lettable area of 35,276 sqm with 780 car parking spaces on a site of 6.417 hectare.
Metroland said the Greenway Plaza is now producing a net income of $1.6 million a year and with the completion of the new development, which is expected to take 18 months, it is anticipated that the SupaCenta will produce an annual rental income of between $5 million to $6 million.
Tendering for the construction is now underway and it is expected that construction will commence in early 2007.
By Kathryn O’Meara
