18/12/2013 - 11:11

Stockland plans $116m Baldivis expansion

18/12/2013 - 11:11

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Stockland has announced a $116 million redevelopment of its Baldivis shopping centre with plans to quadruple the size of the centre.

Stockland plans $116m Baldivis expansion

Stockland has announced a $116 million redevelopment of its Baldivis shopping centre with plans to quadruple the size of the centre.

The centre's gross lettable area will be expanded from 7,000 square metres to about 29,500sqm. 

This will make Stockland Baldivis the state's 19th biggest shopping centre according to Business News' Book of Lists, up from 86th spot previously. 

The redevelopment will add a Woolworths supermarket, a Kmart store and 75 new specialty retailers while expanding the existing Coles supermarket.

The first stage of the expansion is set to be completed by the end of next year with the second stage targeted for completion in mid-2015.

"Redeveloping our most productive shopping centres is a key part of our growth strategy," Stockland managing director Mark Steinert said.

"At Baldivis we'll create a first class retail destination alongside our Settlers Hill residential community and Affinity retirement living village for the benefit and convenience of our residents and visitors to the region."

Stockland Baldivis is the company's most productive centre with a current total moving average turnover of $15,697 per sqm.

Stockland shares were half a cent higher at $3.67 at 11:08am WST.

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