18/01/2018 - 15:57

Stockland gets green light for new shopping centre

18/01/2018 - 15:57
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ASX-listed property group Stockland is set to develop its fifth shopping centre in Western Australia after receiving state and local planning approvals for its Whiteman Edge Town Centre in Brabham.

Stockland announced today that it had received approval for its Whiteman Edge Town Centre.

ASX-listed property group Stockland is set to develop its fifth shopping centre in Western Australia after receiving state and local planning approvals for its Whiteman Edge Town Centre in Brabham.

The centre will be located within the group’s $495 million Whiteman Edge masterplanned community, 17 kilometres from the CBD and in close proximity to Metronet’s planned Ellenbrook rail line.

The Whiteman Edge residential estate will comprise more than 2,000 homes upon completion, with more than 59 per cent of the development already sold.

Situated on Youle Dean Road, the centre will offer an open-air experience, with plans for a full line supermarket, 15 speciality shops, a medical centre and childhood centre, as well as an array of casual dining options with alfresco seating located along the main street.

Stockland has also received approval for the broader Brabham Activity Centre plan, which will allow the centre to expand to 30,000 square metres in the future, as the local community grows.

Stockland group executive and commercial property chief executive John Schroder said the centre would deliver much-needed retail amenity and employment opportunities, with the first stage providing  about 350 jobs during construction as well as more than 300 future retail and service jobs for the region.

Stockland general manager WA Col Dutton said the proposed centre would service the daily shopping needs of residents, as well as draw customers from a number of other nearby growing communities.

“The Whiteman Edge Town Centre is the next big catalytic project for the Whiteman Edge community,” he said.

“With nearly 3,000 residents already living here and the community set to double in the coming years, this new neighbourhood retail town centre will become the beating heart of this community offering a full retail experience to meet the needs of residents now and into the future.

“We look forward to continuing to progress our plans for this development and will provide further updates on construction time frames to our residents and the community in the coming months.”

The Whiteman Edge Town Centre, which also sits near a future planned primary school, will add to the group’s existing WA shopping centre portfolio – Stockland Baldivis, Stockland Bull Creek, Stockland Harrisdale and its 50 per cent share in Stockland Riverton.

Stockland shares were unchanged at $4.27 per share at the close of trade. 

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