Shopping centre owner Scentre Group has lodged plans to spend $450 million expanding its Westfield Innaloo mall, with the proposal to cater for up to 500 apartments.
At first glance, the planned $600 million expansion of Perth's Karrinyup Shopping Centre seems to run counter to the relentless march of internet retailing, especially as a fresh report predicts that 50 per cent of all retail sales will be made over the internet in less than 10 years.
Business News Chief of Staff and property journalist Dan Wilkie talks with 6PR's Chris Ilsley on the announcement from AMP Capital that it will spend $600 million expanding Karrinyup Shopping Centre, taking it to more than 113,000 square metres.
EXCLUSIVE: Shopping centre owner AMP Capital has lodged plans for a $600 million expansion of its Karrinyup mall, taking it to more than 113,000 square metres of total floor space and adding 150 apartments to the mix.
Expansion of Western Australia's retail space is not keeping up with the state's population growth, falling short by around 200,000 square metres, according to a new survey by the Property Council
Westfield Group looks set to offload its stake in two major shopping centres in suburban Perth just days after it was given the green light to increase ownership of the Karrinyup centre.
THREE major shopping centre expansion projects are set to proceed in Perth during the next year, following AMP Capital's move to full ownership of Garden City in Booragoon.
