FOCUS Building Company has been appointed to complete the $44.5 million stage two of redevelopment works of Kardinya Park Shopping Centre.
Located on the corner of South Street and North Lake Road in Kardinya, WA the completed stage two redevelopment works will see Kardinya Park Shopping Centre boast 17,300sqm of retail space.
The second stage of the centre redevelopment will include the expansion of Coles from 2,400sqm to 3,800sqm, a new wellness precinct and 360 under cover car bays within a new 550 bay multi-level car park.
This in addition to a new fresh food market, a new signalised intersection for safe entry and exit off South Street, the relocation of a bus stop and improved pedestrian access via South Street and North Lake Road.
“The redevelopment activity at Kardinya Park Shopping Centre is anticipated to engage with numerous local subcontractors and suppliers over the coming 24 months, as we still face many challenges in the construction industry with a shortage of skilled labour in the WA market, it is an exciting time to be working on this new substantial project that will build amenity for the future of neighbourhoods,” said David Welsh, general manager at Focus Building.
Focus Building Company recently completed the redevelopment and expansion of the Coles shopping Centre in Angelo Street, South Perth and the construction of Yanchep Village shopping centre.
“Stage two of the redevelopment includes exciting additions here at Kardinya. As we add over 4,000 square metres of retail space and a brand new 500 bay parking deck including 360 bays undercover, we are committed to minimising disruption to visitors and the local community,” said Steve Cuzens, asset manager at Kardinya Park Shopping Centre.
“The new Kardinya Park Shopping Centre development marks the beginning of a transformation of the traditional suburban shopping centre experience into a vibrant town centre.
Over in Victoria, two neighbourhood shopping centres recently sold to private investors for a combined $45 million, amidst strong demand in the sub-sector.
While in NSW, Woolworths sold a neighbourhood shopping centre in the Illawarra-Shoalhaven region in September to a Victorian investor for $40 million, on a fully leased yield of 5.43%. Fabcot completed the Woolworths Bomaderry centre in 2020.
Construction on stage two of the Kardinya Park Shopping Centre redevelopment is set to commence on 2 April 2024.
