The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
LESS THAN 30 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
4 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
14
print
Print
RetailAna NarvaezTue 23 Jul 19

AMP Taps Developer for Apartments at Karrinyup Shopping Centre

a2be19b3-c06e-4da9-970f-ce3c81d7e469

Wealth manager AMP Capital has tapped Blackburne Property Group to develop 94 apartments at its $800 million Karrinyup Shopping Centre redevelopment, 12 kilometres north of Perth’s CBD.

AMP, which manages the centre on behalf of UniSuper, is almost doubling the size of the centre from 59,000sq m to 109,000 square metres.

Construction started on the expansion in late 2018, re-weighting the centre toward entertainment and food and beverage with a fresh food precinct that AMP says will create a “bustling marketplace”.

The revamp will also include a main street, piazza and corso with external landscaping and public space, almost 300 stores and a new leisure precinct which includes a state-of-the-art 10 screen cinema.

AMP, which has signed Coles and Aldi along with an existing Woolworths, added international retailer H&M as a key tenant last week.

The Blackburne-led residential component to the east of the centre comprises 94 units, with plans to launch the one, two and three-bedroom apartments to market in late 2019.

Separately, AMP has development approval for additional apartments west of the centre.

The Perth developer has built more than 1,000 apartments on the west coast, winning approval for a 24-storey tower on the former Subiaco Pavilion Market site earlier this year.

Related: Retail Centres Insulate with Supermarkets

▲ Perth developer Blackburne will build 94 apartments on the east side of the Karrinyup Shopping Centre.


Speaking at the commencement of the redevelopment in November, AMP global head of real estate Carmel Hourigan said the redevelopment will deliver compelling and sustainable investment outcomes for its client, UniSuper.

“The [redevelopment] is a great opportunity for AMP Capital to demonstrate its ability to incorporate the next generation of retail experiences to position this longstanding shopping centre destination for the future.”

Blackburne has flagged a construction pipeline set to commence late next year, with practical completion targeted in mid-2022.

The $800 million redevelopment of Karrinyup is scheduled to complete at the end of 2021.

RetailAustraliaPerthConstructionReal EstatePlanningPlanningSector
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
View All >
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
Don O’Rorke has put his foot on “the last absolute riverfront site” and will reveal his plans before year’s end...
LATEST
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
The City of Melbourne has opted to keep Greenline in the 2025-26 Budget.
Policy

Melbourne Budget Puts Paid to Greenline Future Fears

Marisa Wikramanayake
4 Min
Residential

Consolidated Reveals Next Riverfront Play in $64m Deal

Leon Della Bosca AND Taryn Paris
3 Min
Deicorp Five Dock Mixed-Use Precinct
Residential

Deicorp’s $1.8bn Inner-West Sydney Precinct Greenlit

Vanessa Croll
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/amp-taps-developer-for-apartments-at-800m-shopping-centre-revamp--