The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
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
print
Print
Sponsored ContentTue 19 Nov 24

Winim Flexes in Regional Retail Asset Growth

Regional area growth is anchored by retail and it is a space that’s growing for investors and developers alike.

For WINIM client Elanor Investors Group, the Wollongong catchment was a focus, snapping up Warrawong Plaza Shopping Centre on a 7ha site for $136.35 million that is at the heart of the group’s $12-billion infrastructure and investment pipeline.

Elanor Investors head of retail, development and mixed-use Matt Healy said there was great opportunity due to the population growth of the area.

“It’s 7ha of very well-located land in what is a great growth corridor and in a trade area that is undergoing significant densification as well as gentrification,” Healy said.

He said he had worked with the WINIM team for many years at Elanor as well as previously when he was working at Blackstone.

“I always enjoy working collaboratively with the WINIM team. Their expertise, knowledge, and proactive nature makes most projects seamless,” Healy said.

“They are already two or three steps ahead in terms of any issues we are going to find on site.”

The plan was to upgrade and increase yield on the centre that now boasts a 95 per cent occupancy, $186-million valuation and a weighted average lease expiry of 5.1 years.

The sharp project turnaround was spearheaded by Elanor and delivered by WINIM to create a double-supermarket, double-discount outlet anchored asset with an online hub. 

WINIM’s advisory team is led by Ry Stephen and Wilma Leahy, who have completed more than 200 advisory projects across the country

The Warrawong Plaza redevelopment is the latest in a list of successful retail redos for WINIM, including Top Ryde City and Forest Hill Chase.

WINIM project manager Aren Kutnuyan has been on the project since its inception in 2021 through to the successful launch of the project in April, 2024.

null
▲ The Warrawong Plaza shopping centre, about 9km south of the Wollongong city centre.

“Elanor Investors approached us early on to assist in refining the masterplan,” Kutnuyan said.

“The project was broken down into three phases— introducing a new 24-hour gym, extending part of the shopping centre for the new Woolworths and backfilling an existing tenancy for a new childcare.”

Kutnuyan said there were a lot of moving parts, from planning to construction and launch—and key to the project was ensuring the centre remained operational during the process.

“When we approach these projects we have a development mindset, which means we understand the feasibility drivers and strategies to move through the project efficiently” Kutnuyan said.

“And thanks to the way that construction progressed and was managed with Mainbrace and Woolworths, everyone hit their program dates which meant the launch in April was fairly seamless. Importantly, there was a lot of hype and excitement from the community too as Warrawong Plaza is such an important amenity to the wider community.”

null
▲ The Woolworths that anchors the centre.

The online hub is a newer asset in the retail front, future-fitting it to meet the increased demand for direct-to-boot as well as delivery in the catchment.

“The online hub operates as additional storage and delivery for the wider area,” Kutnuyan said.

“There is a lot of importance put on how stock comes in, how it is stored and how it is dispatched rapidly.”

“The process will be largely automated using a network of conveyor systems and stacking facility to deliver products to fill customer orders”

As a result of the redevelopment, Warrawong Plaza’s occupancy increased, its operational and functional efficiencies improved and its overall value went up, increasing yield in a short timeframe.

“The big value clients get from using WINIM is that we are developers ourselves,” Kutnuyan said.

“Having delivered mixed use and retail projects for ourselves we have that experience and expertise that we can use for our clients projects.”

“We’re not just delivering what the client is asking us to, we are driving outcomes which will optimise their project and asset .”



The Urban Developer
is proud to partner with WINIM to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

RetailAustraliaPartner
ADVERTISEMENT
TOP STORIES
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
Exclusive

Azure’s Trent Keirnan on Playing the Long Game

Taryn Paris
5 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
Forme's James Place on James Street, Fortitude Valley Brisbane
Exclusive

Forme Pushes the Boundaries on James Street Precinct

Renee McKeown
4 Min
View All >
Residential

Verso Expands Ripley Town Centre Retail and Homes Plan

Taryn Paris
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
SA Modular home example
Other

SA Tests Modular Homes to Solve Regional Housing

Leon Della Bosca
South Australia launches $2.15-million modular housing trial to address regional worker accommodation shortages this yea…
LATEST
Residential

Verso Expands Ripley Town Centre Retail and Homes Plan

Taryn Paris
3 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
SA Modular home example
Other

SA Tests Modular Homes to Solve Regional Housing

Leon Della Bosca
3 Min
Ausgrid battery storage proposal
Infrastructure

Ausgrid’s $423m Battery Play Hits the Grid

Vanessa Croll
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/winim-flexes-in-regional-retail-asset-growth