31/07/2015 - 10:45

AMP unveils $750m Garden City revamp

31/07/2015 - 10:45

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An artist's impression of the new cinema facade at Garden City. Photo: AMP Capital.

More progress has been made on the redevelopment of Garden City Booragoon, with AMP Capital lodging a development application for a $750 million revamp of the mall, which would make it the state’s largest.

The DA follows TRG Properties lodging an application to build 122 apartments on an adjacent plot, which is considered key to the viability of the redevelopment and satisfies state government planning regulations.

The extension of Garden City will grow the centre to 120,000 square metres and include two new department stores, two supermarkets, large-format international fashion retailers, a main street casual dining and leisure precinct and new cinemas.

That would make it the state's largest centre, however Scentre Group has an approved DA to extend Westfield Carousel to 120,000sqm.

AMP Capital Shopping Centres managing director Bryan Hynes said the redevelopment would ensure Garden City remained the best performing shopping centre in Western Australia.

“This redevelopment, along with our plans for Karrinyup Shopping Centre, has been a long-term collaboration between AMP Capital, the state government and local councils,” he said.

“Both redevelopments are major investments representing a significant boost to the economy and show AMP Capital’s commitment to Western Australia.

“Across the two developments, we intend to invest more than $1.4 billion in the state, creating around 5,000 construction roles and more than 5,000 retail jobs upon completion.”

If approved, the extension of Garden City is expected to be completed in 2019.

An artist's impression of the Garden City redevelopment. Photo: AMP Capital

At Karrinyup, Business News broke the news earlier this year that AMP Capital was planning a $600 million expansion of that centre, which included adding 150 apartments to the mix.

The plan would increase the size of Karrinyup Shopping Centre to 113,000sqm.

The Garden City DA also leaves Westfield Galleria as the only major shopping centre in WA without an application to expand, however owner Federation Centres is planning a redevelopment in the 2017 financial year, with the estimated cost to come between $300 million and $420 million.

Other centres with growth plans include Westfield Innaloo, where Scentre Group is planning to spend $450 million to expand it to 99,000sqm, while the proposal flags up to 500 apartments to be built in the surrounding area.

Scentre Group has also committed to a redevelopment of Westfield Whitford City, with that plan also including apartments, some 739 of them, in the wider area surrounding the mall.

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