The $1.5 billion Casuarina Beach township on the NSW Tweed Coast has reached one of the biggest milestones in its 15-year evolution with the commencement of construction on the long awaited Coles Casuarina retail hub within the town centre.
The start of works on the Coles Casuarina retail centre was today welcomed by developer Consolidated Properties and capital partner CVS Lane Capital Partners as a fantastic outcome for Casuarina Beach residents and the surrounding Tweed Coast Community.
Consolidated Properties executive chairman Don O’Rorke said, “The Coles-anchored Casuarina retail centre is the final piece in the jigsaw at Casuarina Beach. We always envisaged a retail and commercial heart for the community and we’re delighted that at last we are delivering on that promise.”
“It has taken almost a decade of work to reach this point and I would like to acknowledge the professionalism and rigour of the NSW Department of planning and Tweed Shire Council officers who worked on the various applications for the retail hub.”
The new $25 million neighbourhood centre retail hub will include a 2500sqm full-line Coles supermarket together with 12 specialty stores covering a further 1300sqm and parking for 237 vehicles.
Construction works began this week with an earth-breaking ceremony by Mr O’Rorke alongside CVS Lane Capital Partners executive director Lee Centra and Coles Supermarkets senior executives.
Mr Centra said CVS Lane Capital Partners was proud to be partnering with Consolidated Properties to deliver a high quality neighbourhood shopping centre for the Casuarina Beach community.
Construction of the retail centre – which is to be undertaken by Hutchinson Builders – is expected to take about a year, with opening due around March 2016.
The project will create around 300 jobs, with an estimated 225 workers to be employed during the construction phase and another 70 ongoing positions once the centre opens.
Mr O’Rorke said one of Australia’s most respected architectural firms, Thomson Adsett, had been engaged to create a striking design for the shopping complex, which would be one of the most design-focussed on Australia’s east coast.
“The lengthy planning and approvals process has allowed us to get everything right in terms of design and product mix,” he said.
‘This is complemented by a first-rate delivery team in CVS Lane Capital Partners, Coles Supermarkets and Hutchinson Builders.
“The result will be a new centrepiece for Casuarina Beach that we’re confident everyone will be proud of and will add significant long term value to the community.”
Mr O’Rorke said advanced negotiations were already in progress for several of the speciality tenancies.
“The Tweed Coast’s population is growing faster than any other NSW coastal region outside the metropolitan centres so a retail offering like this is absolutely unique,” he said.
The centre is being built on a corner site with frontage to the Coast Road and a newly opened section of Casuarina Way which links the north and central residential villages of Casuarina Beach, and also provides a direct connection to the adjoining $1 billion Salt Village community.
The shopping centre is at the hub of several major Casuarina Beach residential projects either already surrounding it or set to be built, including the $14 million Beach Life beachside homes precinct and the $15 million beachfront residential land sub division The Pocket.