Cockburn Gateway Shopping City… In Demand

Jul 26th, 2007

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Stage Three of Cockburn Gateway Shopping City is scheduled to open in September this year.

Growing from 13,500m² to 30,000m² with the addition of a Big W discount department store, Best and Less and over 120 specialty stores, the Centre is set to meet its status as a strategic Regional Centre. The Centre has approval to expand to an ultimate capacity of 56,000m² of net lettable area; however, owners Perron Group are pushing to almost double the retail shopping centre area for development.

“Demand for the Centre has been outstanding, with a tenancy mix consummate with the high regard that retailers hold the Centre’s current and expected trading capacity.” said Jim Tsagalis, Managing Director of Lease Equity.

The Centre is located opposite the Cockburn Central Transit Centre, which is expected to serve a population of almost 400,000 people and be the second busiest terminal on the Mandurah to Perth line. Cockburn Central is also located opposite the Shopping Centre, which is anticipated to include 500 residential dwellings, with 6,500m² of commercial offices and bulky goods properties.

The centre has only two remaining shops, with over 75% of those tenants committed to the Centre being of a national profile.

“We established an ideal tenancy mix template and actively pursued it. The Centre includes some of Australia’s biggest and best specialty retailers, establishing a tenancy mix which is usually enjoyed by substantially larger Centres.” Mr. Tsagalis said.

Stage Three of the redevelopment is set to open in September 2007; however, plans have already been undertaken for further stages, to meet the demand from the growing catchment.

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