Cranbourne’s major shopping centre is set for a $110 million facelift to include new stores and a revamped design.
Cranbourne Park Shopping Centre, on High Street, will be redeveloped to add about 12,500 square metres of retail space – including a new Target store, a large-format design Coles supermarket, new mini-majors and about 55 new specialty shops. The redevelopment will also include a gym and commercial office space.
The existing centre, owned by The Federation Centres and ISPT, will also be refurbished and the current Kmart remodelled. There will also be improvement works to amenities with new facilities for parents and children and additional undercover parking. Federation Centres’ executive general manager development and asset strategy Jonathan Timms said they were very excited about this development.
“Cranbourne Park is in the heart of one of Victoria’s strongest growth corridors and will be truly transformed by this project to become the destination of choice for customers and retailers in the Cranbourne area,” he said. ISPT fund manager Mark Bassett said the development demonstrated a strong support for local investment.“The shift to a more contemporary retail offer at Cranbourne Park will provide customers with an exciting new focal point that will contribute to the liveability and sense of place for the town centre,” he said. “We look forward to making a contribution to the community over the long term.” Coles property director Greg Chubb said Coles was excited to be relocating to significantly larger premises within the redevelopment. “Coles’ new store will provide our customers a full range superstore including fresh produce served on ice bunks, in-store bakery, butchery and a comprehensive range of general merchandise and apparel,” he said.
Minor works for the development will commence prior to Christmas, with the main building activity underway in January 2014 and completion expected in 2015.