This article is from the Australian Property Journal archive
CASTLETOWN shopping centre is set for a new Coles and specialty retailers after Townsville City Council approved the $34 million redevelopment plans.
It will be the fourth major investment to be undertaken at Castletown by McConaghy Properties, which purchased the centre in 1989.
The retail property group expects the project will create up to 160 jobs during construction and up to 100 new jobs within the centre on completion.
Approval comes shortly after it was announced that the Castletown Target store would be closing, having been part of centre since its opening in 1980. Target’s parent company, Wesfarmers revealed in May it would close 167 Target and Target Country stores nationwide.
A new entry statement, improved facilities, upgraded car parking and a revitalised Playtown will be part of the Castletown works.
“We will be doing everything possible to forge a successful redevelopment during these challenging operating conditions,” McConaghy Properties’ chief executive officer, Gary McConaghy said.
“Castletown’s fresh food offer at Kings Road Market is a strong drawcard for families and the arrival of Coles will further complement this offer, while generating significant additional visitors each year.”
He said the group is investing in “architecture and design that is distinctively Townsville, bringing the outside in with greenery, light, and personality”.
Construction is scheduled to begin in February and expected to be completed by Christmas of 2021. Castletown will remain open for trade throughout the redevelopment.
