04/11/2015 - 10:40

Pindan to build Ellenbrook bulky goods precinct

04/11/2015 - 10:40

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Pindan has won a contract to build the bulky goods development at The Shops at Ellenbrook, which forms part of the Insurance Commission of Western Australia’s $800 million property portfolio that has been put to market.

Pindan to build Ellenbrook bulky goods precinct
An artist's impression of the bulky goods development at The Shops at Ellenbrook.

Pindan has won a contract to build the bulky goods development at The Shops at Ellenbrook, which forms part of the Insurance Commission of Western Australia’s $800 million property portfolio that has been put to market.

A spokesperson from ICWA said the commission was moving ahead with the bulky goods development despite plans to sell it because it would add to the value of the assets being sold, and would be favourably viewed by buyers.

“The costs of construction will also pass over to the new buyer,” the spokesperson said.

ICWA chief executive Rod Whithear said Pindan had already broken ground on the site, and tilt-up walls would be going up in the coming weeks.

“We anticipate the first store in the precinct will open in the second quarter of next year, with other tenants to follow shortly afterwards,” Mr Whithear said.

Coles-owned First Choice Liquor has been previously named as an anchor tenant at the development.

ICWA is restructuring its $4.4 billion portfolio by moving out of direct property investment, and has put an $800 million portfolio on the market that comprises the 31-storey Forrest Centre, the 13-level Westralia Plaza and the 19-storey Westralia Square, as well as The Shops at Ellenbrook and the Livingston Marketplace in Canning Vale.

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