This article is from the Australian Property Journal archive
AMP Capital Investors has unveiled plans to redevelop and expand the Gateway Plaza shopping centre in the coastal town of Warrnambool.
AMP has lodged a Planning Permit and a Rezoning Application seeking an additional 8,000 sqm of retail space, including an additional supermarket, mini-major retailer and specialty stores.
The Rezoning Application seeks to rezone residential land to the east of the centre to commercial usage, in order to prepare for the forecast future regional and population growth (approximately 1.2% annually).
Owned by AMP’s Property Income Fund, Gateway Plaza is approximately 14,000 sqm in size and is anchored by Kmart and Coles, with two mini major retailers and 30 specialty stores, located 4kms east of Warrnambool’s CBD.
Together with the Warrnambool CBD, Gateway Plaza serves as the commercial and retail hub for the South-West coastal region of Victoria, catering for the retail needs of the 88,000 people who live in the region as well as the 700,000 tourists who visit the district each year.
AMP Capital Shopping Centres acting managing director Bryan Hynes said as a key growth area, Warrnambool’s residents and visitors desire an improved range of retail offers to complement the area’s existing shopping experience.
“Our research shows that a significant amount of sales expenditure leaves the Warrnambool area each year to surrounding shopping districts. This is primarily due to people trying to access a broader range of retail facilities.
“Our Planning Permit Application aims to deliver these retail needs, encouraging our regional community to do more of its shopping locally with the added benefit of creating a number of employment opportunities,” he concluded.
Australian Property Journal
