This article is from the Australian Property Journal archive
VICINITY Centres is meeting changing consumer habits by investing $685 million to expand Chadstone, Australia’s largest shopping centre.
Vicinity has lodged Development applications (DAs) with the City of Stonnington for:
- A new nine-storey commercial office building on Middle Rd
- Expansion of the current dining terrace and leisure precinct
- Upgraded fresh food precinct, with focus on workplace, wellness and lifestyle retailers
- Further expansion of Australia’s biggest luxury mall
- More than 1,400 additional car spaces across two car parks (two separate DAs)
Chief development officer Carolyn Viney said the proposal meets changing consumer lifestyle needs which aligns to Vicinity’s mixed-use and market-leading destination strategy, which already attracts 24 million visitors a year.
“The projects won’t increase the size of the precinct but rather refresh and repurpose existing space, utilising land within the current Chadstone footprint.
“We know Chadstone plays a significant role within the growing Monash economic region supporting ongoing and future employment. Our plans will address demand from commercial tenants wanting to be based at Chadstone and continue to deliver the experiences our customers and retailers have come to expect from The Fashion Capital,” she added.
Viney said with Victoria’s population expected to add another one million people by 2026, places like Chadstone are well-placed to accommodate the city’s expansion without disrupting the liveability of Melbourne’s suburbs.
“Our destination centres, such as Chadstone, are community hubs bringing together the key elements that create the vibrant neighbourhood feel we all crave. We’re combining world class, experience-led retailing, convenient services, office space and accommodation, all enabled by robust public transport connections,” she continued.
If approved, it is anticipated work could begin in 2021, with completion within four years.
