Lendlease has begun work on the AU$240m (£111m) redevelopment of the Macarthur Square shopping centre in southwest Sydney, Australia.
The redevelopment will add 16,000m2 to the centre, to house stores including David Jones, Aldi, Target and Woolworths. There will also be approximately 45 specialty stores as well as a fresh food market hall and a collection of new places to dine.
Lendlease head of retail, Gary Horwitz, said the redevelopment will strengthen the position of Macarthur Square by extending an already diversified retail mix. “Lendlease and GPT Group founder Dick Dusseldorp had a vision for the Macarthur region when, in 1979, he opened the doors of a newly built shopping centre to provide luxury and convenience right on the community’s doorstep.
“Today I am proud we are continuing his vision and giving back to a community that has shown the centre so much loyalty.”
It is estimated that the redevelopment will generate more than 2,000 jobs during construction and approximately 1,000 additional retail positions once the project is complete.
Construction is expected to take approximately two years, with the main extension complete prior to Christmas 2016. Lendlease’s Building business will design, project manage and construct the project.
Macarthur Square is jointly owned by the Lendlease-managed Australian Prime Property Fund Retail (APPF Retail) and the GPT Wholesale Shopping Centre Fund,managed by the GPT Group.