01/05/2007 - 22:00

$30m QUBE Beechboro plan

01/05/2007 - 22:00

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QUBE Property Group is set to expand into retail development with a proposed $30 million shopping centre in Beechboro.

$30m QUBE Beechboro plan

QUBE Property Group is set to expand into retail development with a proposed $30 million shopping centre in Beechboro.

The 4,000 square metre shopping centre at the group’s Bennett Springs estate will be its first major retail development, with approval likely to be sought from the City of Swan this month.

QUBE managing director Mark Hector said the plans for the centre, a joint venture with developer Allan Erceg, were still under wraps, but the developer hoped to commence construction later this year.

“The centre will be anchored by a major supermarket and will be a fantastic addition to the estate,” he said.

The company says it has completed $225 million worth of commercial and residential projects during the past 12 months.

QUBE is due to complete the final stage of the $115 million Bennett Springs estate in the next three months, creating 1,200 home sites.

Other residential projects expected to be completed in the next three months include a $5 million mixed-use development in Silas Street, East Fremantle, comprising eight townhouses above three commercial/retail units, and a $9.5 million 34-apartment complex in Burton Court, Bentley.

A $10 million, 2,000sq m office building at 1138 Hay Street, and an $8.5 million development of 94 townhouses within The Glades at Port Geographe, are also earmarked for completion by July.

Mr Hector said the group was pleased to have capitalised on the current demand for commercial and residential property in the Perth market.

“We are operating in a very tight market, in terms of the number of properties available and labour and materials, so it’s great to have so many projects completed successfully in such a short period,” he told WA Business News.

The brand was launched in September last year, after projects under the Clarke & Hawkins Management and Dibstone banners were consolidated by QUBE.

Besides Bennett Springs, the group has large-scale communities planned for the Churchman Brook Estate-Darling Ranges, Guildford, Caversham, Mandogalup, Hammond Park, Wattleup and Mundijong.

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