A new retail hub is proposed to be built on a 15.7 hectare site on the Great Western Highway, between Rooty Hill Road South and the M7 motorway.
Frasers Property Australia has been awarded exclusive development management rights by Western Sydney Parklands Trust for the major retail centre, which will be built in four stages over a five year period, adding up to 50,000 square metres at Eastern Creek in Western Sydney Parklands.
It is expected to create more than 1000 local jobs, 500 construction jobs and generate more than $100 million of investment in Western Sydney.
“The new retail centre will contribute to creating a long term recurrent income stream for Western Sydney Parklands Trust, which will allow the Trust to manage the remainder of the Parklands and deliver significant benefits to the Western Sydney community,” Parklands Trust Executive Director Suellen Fitzgerald said.
Western Sydney Parklands Trust’s Plan of Management sets aside 2% of the Parklands for business hubs to fund the remaining 98% of the Parklands.
”By activating vacant land with low recreational and ecological value, Western Sydney Parklands Trust is generating funds to develop and manage the adjacent Bungarribee Park, expand the 1,000 hectare biodiversity corridor and create more cycling and walking tracks for the community to enjoy," Ms Fitzgerald said.
Peri Macdonald, Executive General Manager - Retail, Frasers Property Australia says the development management agreement creates an opportunity to plan and develop land in one of Australia’s largest growth corridors.
“The current concept plan for the retail centre allows for up to 50,000 square metres of floor space incorporating a general neighbourhood retail centre and bulky goods,” Mr Macdonald said.
“The new centre on the Great Western Highway will be within a 15 minute drive for 330,000 people and within a 30 minute drive for 1.2 million. The main trade catchment will extend south to Eastern Creek and to Arndell Park in the east."Businesses sourced for the retail centre will be matched with criteria to ensure they are compatible with the Eastern Creek community. Such business include supermarkets, specialty shops, large format retail, bulky goods and associated retail and services.
The new development is consistent with the provisions within the State Environmental Planning Policy (Western Sydney Parklands) 2009 and the adopted Plan of Management.
Construction of the new Eastern Creek retail centre is likely to begin in early 2017.