Perth, 13 August 2014- Construction of the Kwinana Supa Centre in Perth’s outer southern suburbs has commenced. The prominent 2.6ha site is located in the revitalized Kwinana Town Centre and will offer retail, office and large format retail tenancies.
The development will be built in two stages with a total lettable area of approximately 12,500sqm upon completion. The site benefits from the adjoining redeveloped Kwinana Marketplace Shopping Centre which is owned by Shopping Centres Australia and is anchored by Woolworths, Big W, Dan Murphy, The Reject Shop and Best & Less.
Richard Cash, Director Large Format Retail and Retail Services, and Alex Gismondi, CBRE negotiator, are the exclusive leasing agents for the centre, with completion of Stage 1 expected October 2014.
Mr Cash said the new Supa Centre car park will adjoin the Big W car park, allowing easy pedestrian access between the developments.
“Kwinana Marketplace already attracts numerous shoppers every day, the convenience of having a Supa Centre right next door will appeal to these shoppers. Additionally, the 20ha parcel of land opposite the development is zoned residential with development due to commence in the short term. This estate is planned to house 650 dwellings,” Mr Cash said.
“Initial tenant enquiry has been very strong with four tenants already committed to Stage 1 and a number of tenants looking to secure tenancies within the balance of the first stage.”
Mr Gismondi said that Kwinana is a fast growing community undergoing significant redevelopment including new residential areas, schools, retail precincts, community facilities and public transport.
“The Supa Centre is well placed to capitalise on the future residential growth expected within the town centre. The catchment area population is currently around 60,000 people, but this is expected to double over the next 12 years,” Mr Gismondi said.
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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 (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.