Stockland has received the necessary planning approvals for its fifth shopping centre in Western Australia.
The ASX-listed property group will invest about $40 million in developing the Whiteman Edge Town Centre.
The town centre is expected to contain a full line supermarket, 15 specialty shops with a focus on convenience based fresh food, a medical and childcare centre.
Located in the suburb of Brabham, 17 kilometres north-east of Perth’s CBD, the town centre will be placed within Stockland’s Whiteman Edge development, and serving as the “heart” of this $495 million master-planned community.
Stockland also received approval from the state government for the broader Brabham Activity Centre Plan, which allows for the centre to be expanded to 30,000 square metres in the future.
“The proposed Whiteman Edge Town Centre will allow us to provide much needed retail amenity and employment opportunities, with the opportunity to expand the size, scale and offering as the community and region grows in the future,” Stockland chief executive of Commercial Property John Schroder said.
Stockland’s Whiteman Edge community will comprise more than 2,000 homes with parks within 250 metres of every home and 12 hectares set aside for parkland and green open spaces.
In November last year, Stockland paid $91 million for more than 4,600 residential lots over three sites, one of which included an 11-hectare site in Brabham for $11 million which was earmarked for Whiteman Edge.
Stockland WA general manager Col Dutton said the proposed centre will be the next big project for the Whiteman Edge community.
“With nearly 3,000 residents already living here and the community set to double in the coming years, this new neighbourhood retail town centre will become the beating heart of this community offering a full retail experience to meet the needs of residents now and into the future,” he said.
Stockland’s WA portfolio currently contains $1 billion worth of shopping centres, residential communities and office, logistics and business parks assets.