An extensive upgrade and repositioning of the Redyard Entertainment Centre in Auburn has seen an increase in renewals and pre-commitment.
After years of enjoyment by the locals as an outlet centre, anchored by Reading Cinemas, the centre at 100 Parramatta Road will be undergoing a remix to ensure it remains the community’s most compelling shopping and entertainment destination.
Plans for the development include a new outdoor leisure precinct that will be available for lunch and night time dining, as well as a children’s play area and water feature for families to enjoy.
Steve James, Senior Negotiator, from CBRE’s Large Format Retail team is working with Reading International to create a renewed vision for the centre to provide customers a broader retail mix by introducing new food and retail offerings.
“Leasing had been challenging over the past few years due to limited leasing opportunities but we are working to change that. The owner has constructed seven new shops, all of which were pre-committed to lease and have just been handed over to the new tenants,” Mr James said.
High-grade sports store, Intersport, officially launched their new offer to the public mid-July and MCMD, a men’s street style boutique is set to open in August.
A new dining offer has already commenced with the opening of Universal Burger Corporation plus the introduction of coffee and fine desserts operator, Chicago Jones set to open later in August, allowing cinema goers the chance to dine before or after their movie. Red Rooster and Oporto are also set to open later next year offering a drive-through or dine-in opportunity for locals to enjoy.
“The centre has a strong identification within the region as a prominent brand name shopping destination. With the current upgrades and new tenants, we are only going to see an increase in consumer numbers.”
“Furthermore, CBRE is currently in discussions with several motivated large format retailers to activate the adjacent 13,500sqm of land next to the cinema.”
Interested retailers should call Steve James, of CBRE Asia Pacific on 0415 411 215 for more information.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.