QIC Global Real Estate has unveiled the new $150 million Woodgrove shopping centre at Melton in Melbourne's outer west.
The expansion has more than doubled the size of the centre to approximately 48,000 sqm and it is fully leased. There are approximately 80 new specialty retailers bringing the total to 150 stores, a 550-seat food court, as well as a fully integrated dining and entertainment precinct. There are more than 150 retailers in the new centre.
A small number of speciality retailers are scheduled to open later this year, together with a new Woolworths, which will join majors Kmart, Coles, and the new Big W.
QIC Global Real Estate managing director Steven Leigh and Victorian planning minister Matthew Guy opened the centre.
“Woodgrove is located in the heart of one of the fastest growing locations in Australia with a population forecast to increase by 53% by 2021,” Leigh said.
“Average annual population growth in the main trade area is 5%, compared to Melbourne’s average annual growth of 1.5%2, with two new suburbs, Toolern and Eynesbury, also planned for the region.
“The expansion is the next logical step for the evolution of Woodgrove in response to the growth of the Centre’s thriving trade area,” he added.
QIC is a long-term investor in Melton and acquired Woodgrove in 1997 as a convenience-based centre anchored by a Coles supermarket. The centre was expanded in 1998, introducing Kmart and 45 new specialty shops.
In 2003, a five-screen Readings Cinemas complex opened, as well as commercial office space, a family restaurant and new specialty shops. A Medical Centre and a Bunnings Warehouse opened in late 2006.
Guy said the centre’s expansion will be a significant boost for the region, for jobs and retail services.
It has created 600 construction industry jobs and it will bring 750 new retail industry jobs,” Guy said.
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