Major Cannington projects set for green light

Dec 16th, 2014

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Article by:
Dan Wilkie

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Two major retail redevelopment projects in Cannington will move closer to construction later this week, with regulatory approval expected for a $235 million expansion of Westfield Carousel and a $28 million Bunnings Warehouse development at the Cannington Exhibition Centre and Showgrounds.

Westfield Carousel is expected to get the green light later this week for a $235 million, near-50,000 square metre expansion, which would ensure the shopping centre returns to its former mantle of Western Australia’s largest.

The plan, put forward by ASX-listed shopping centre owner Scentre Group, has been recommended for approval when the Metropolitan Central development assessment panel meets later this week.

Scentre Group’s proposal, which confirmed speculation first reported in early October by Business News, comprises an additional 47,108sqm of net lettable area, increasing the total size of the centre to 130,230sqm.

The additional floor space would vault it past WA's current largest shopping centre, Lakeside Joondalup, which completed an expansion to 100,000sqm last month.

According to DAP documents, the additional floor space at Carousel will include a child care centre, a medical centre, a fresh food market, offices, restaurants and takeaway food outlets as well as new shops.

The plan includes an entertainment and leisure precinct facing Albany Highway, designed to encourage after-hours usage of the area.

Scentre Group is also planning to build a new town square area on Cecil Avenue, to be known as Cecil Square, providing space for community events.

The use of the square is subject to an agreement between Scentre Group and the City of Canning.

An analysis of the existing businesses on Cecil Avenue by Lease Equity recommended to properly activate the area, the existing Hoyts Cinemas at Carousel should be relocated to the square.

Hoyts’ lease at Carousel expires in 2020.

Lease Equity said Cecil Square could be seen as a “short-term win” for the City of Canning.

“Adjoining land owners to Cecil Square may need to be educated on the economic and social benefit of redeveloping their land parcels into a vibrant main street,” Lease Equity said in its report.

“The long term success of implementing a double-sided main street all the way through Cecil Avenue will heavily rely on Scentre Group’s commitment and cooperation of developing their side of Cecil Avenue and opposite land owners following suit to develop their land parcels.”

To facilitate the redevelopment, existing high-voltage overhead powerlines will be placed underground, while Scentre Group will also contribute funds for the construction of the extension of Liege Street to Grey Street, known as the Southern Link Road, as well as a number of other road upgrades to facilitate better traffic movement around the area.

Meanwhile, the DAP has also been recommended to approve a $28 million, 14,000sqm Bunnings Warehouse development at Albany Highway, after the Cannington Agricultural and Horticultural Society was forced to redraw its redevelopment plans for the Cannington Exhibition Centre and Showgrounds in October due to traffic congestion concerns.

According to the DAP documents, the warehouse will cost $13 million to construct, but CAHRS told Business News in October that Bunnings' total investment would be around $28 million.

The approval will be issued subject to a number of conditions, including upgrades to the area’s road infrastructure, including the Southern Link Road.

The Bunnings plan is designed to fund a $9 million redevelopment of the Cannington Showgrounds, under a multi-million dollar lease deal finalised earlier this year.

The hardware store, which will comprise a 9,213sqm warehouse, a 2,417sqm timber trade sale area and a 2,907sqm nursery, will be built on a plot of land on the corner of Albany Highway and Liege Street, which is currently home to the Cannington greyhounds track.

The site is located opposite to Westfield Carousel, which was consulted during the planning process and gave its support to the redevelopment.

Greyhounds WA will construct a new track to the north of the site, under a $13 million proposal announced earlier this year.

Source: www.businessnews.com.au/article/Major-Cannington-projects-set-for-green-light

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