COM: [Gepps Cross] Home HQ Gepp X | $170m

[Howie]

Homemaker centre for Gepps Cross
Article from: The Advertiser
RHIANNON HOYLE, REAL ESTATE EDITOR

September 29, 2007 12:00am

PLANS for the state's largest bulky goods centre – double the size of the Mile End Homemaker Centre – have been announced to revitalise the derelict abattoir site at Gepps Cross, between Main North and Port Wakefield roads.

The $170 million project, to be known as Home HQ Gepps X, will transform the near-city parcel, which has been a blight on the landscape of two of the city's busiest roads for decades.

About 200 people are expected to be employed building the precinct from February.

The centre will comprise about 30 large bulky goods stores, including SA's largest Harvey Norman outlet, as well as a range of complimentary retailers and two cafe areas. There will also be a new road created to dissect the centre, which will become a much-anticipated link between the two arterial roads.

The site was acquired by the Pivot Group – which has developed several homemaker centres nationally – in 2005. Axiom Properties, of which Pivot is a major shareholder, has since had the site rezoned and a development application recently approved.

General manager Paul Rouvray said the plans had been developed to satisfy demands from the strong economic activity in Adelaide's northern suburbs.

"This site in particular has been on the development radar for the past 10 or 15 years," he said.

CB Richard Ellis director of retail services John Savva, who is handling leasing for the site, expected strong demand from retailers. While Harvey Norman has signed on as the centre's anchor tenant, marketing will begin for the remaining tenancies over the next few weeks.

"Upon completion, it will be SA's largest and greatest homemaker centre," Mr Savva said.

It is expected construction will be finished by March, 2009.

Minister for Urban Development and Planning Paul Holloway said he was "pleased to see the transformation of this gateway to Adelaide finally taking shape".

"So many visitors to Adelaide arrive by road via this route and it is important that the impression they gain is a good one."

That'll also free up the current Harvey Norman just up the road from there.

[Howie]

http://www.wabusinessnews.com.au/en-sto ... ivot-Group

Axiom to buy Adelaide property from Pivot Group
29-October-07 by Edited announcement
Latest News

Axiom Properties Ltd has agreed to buy a 50 per cent interest in an Adelaide bulky goods centre for $25 million from its major shareholder, Peter Laurance's Pivot Group.

Axiom Properties Limited has contracted to buy a 50% interest in the development of a 60,000 square metre bulky goods centre at Gepps Cross, 10kms north of the Adelaide CBD for $25m from Pivot Group.

The other 50% will be joint-ventured by Harvey Norman, who will anchor the centre with a 12,000 square metre store, and Charter Hall.

The acquisition reinforces Axiom as a national property developer delivering investment grade properties across various property sectors, including bulky goods.

As an extension of the successful relationship between Pivot, Harvey Norman and Charter Hall, Axiom is developing the project with its other joint venture developers, all of whom are partners in a new 40,000sq.m. bulky retail project at Mentone in Melbourne.

The three developers have agreed to buy the 16 hectare site on Main North Road from Axiom's major shareholder, Peter Laurance's Pivot Group, who coordinated the amalgamation, rezoning and development approvals for the site. Earthworks have already commenced and construction is expected to start early next year, for a March 2009 opening.

The Managing Director of Axiom, Ben Laurance, said that bulky goods retailers had pointed out the shortage of quality, large-scale homemaker centres in Adelaide, and it was therefore no surprise that expressions of interest had been received for most of the proposed tenancies.

"This will be one of the biggest bulky goods centres in Australia, so it will be truly a one-stop comparison shopping destination on one of the most high profile sites in Adelaide," Mr Laurance said.

"The fact that Harvey Norman is taking their biggest format store gives the stamp of approval to the site and is a strong endorsement of the quality of the development," he said.

"Significant interest from most of the high quality National retailers with proven trading records has been received for the major part of the rest of the centre," Mr Laurance said.

"The zoning sensibly permits more than a dozen small food and beverage tenancies, so the whole centre will be a family-friendly shopping environment."

The developers also have approval to install traffic lights on Main North Road leading into the centre, and to construct a new road through the site to connect to Port Wakefield Road.

"The direct road connection to the two major northern arterial roads means the new centre will be directly accessible to more than 60,000 cars of passing traffic every day," Mr Laurance said.

The centre is being leased by John Savva of CBRE Adelaide, and Jeff Klopper, CBRE's National Leasing Director.

HOME HQ Gepps Cross, as the centre will be known, is expected to have an end value of $150 million.

Shareholders will be asked to approve the transaction from Pivot Group at its Annual General Meeting to be held on 27 November 2007.

[bm7500]

Whilst i'm all for this development as the site has been an eyesore for years... its BS that they have been given approval to install yet ANOTHER set of traffic lights on Main North Road! If they want a traffic light controlled entrance then they should make use of the set ajacent the Woolworths Distribution Centre rather than further clog up a main arterial road with unecessary traffic lights!

[Düsseldorfer]

doesn't Harvey Norman already have a big store just 2km or less down main north road. Another thing, if they say they want to make the northern entrance to adelaide more attractive, then how come the whole length of main north road past grand junction road is filled with second hand car yards!!

[bm7500]

Quote:"Düsseldorfer"doesn't Harvey Norman already have a big store just 2km or less down main north road....

Yes they do already have a store down the road from the new site. This will allow them to have a much larger floor space, better access and more exposure at the new site.

[how_good_is_he]

Harvey Norman will move out of their existing Enfield store when this new one is ready, which they are only leasing while this one they will own.

[Will]

INTRODUCING SOUTH AUSTRALIA'S BIGGEST AND BEST RETAIL DESTINATIONThe Ultimate Shopping Experience with a Premier Location!

Key Retailer Harvey Norman Already Secured!

This centre will be South Australia’s largest Bulky Goods Homemaker Centre and home to Harvey Norman’s biggest and best South Australian store.

Strategically located in the heart of Adelaide’s gateway, this landmark location will finally be developed to utilise its dynamic retail elements; creating a fresh new retail opportunity that will capitalise on the ongoing demand for convenient one stop shopping.

Situated just 10 km north of Adelaide’s CBD and combined with the proposed expediential growth for the northern districts, Home HQ Gepps Cross captures the escape expenditure from northern Adelaide.






Some images of the centre:














Courtesy of CBRE

[bm7500]

I wonder what the 'Sinful' shop will be selling???

[crawf]

That looks impressive, its going to make a well needed impact on that current eyesore.

Good to see they are keeping the water tower, though it would be good if it was converted to a cafe or a small observation deck. You would get nice views of the city skyline and surrounds from up there.

[Cruise]

I wonder what the 'Sinful' shop will be selling???

Maybe they could combine the sinful shop and the pleasure shop?

[pushbutton]

INTRODUCING SOUTH AUSTRALIA'S BIGGEST AND BEST RETAIL DESTINATIONThe Ultimate Shopping Experience with a Premier Location!

LOL! Hang on a moment!

So should I take it this will be BIGGER than Westfield Marion, and BETTER then Elizabeth Shopping Centre and Colonnades then ???

It sounds quite good, but at the end of the day it's a medium size bulky goods retail park, and not the ultimate shopping experience by any standards surely!!!

[Cruise]

INTRODUCING SOUTH AUSTRALIA'S BIGGEST AND BEST RETAIL DESTINATIONThe Ultimate Shopping Experience with a Premier Location!

LOL! Hang on a moment!

So should I take it this will be BIGGER than Westfield Marion, and BETTER then Elizabeth Shopping Centre and Colonnades then ???

It sounds quite good, but at the end of the day it's a medium size bulky goods retail park, and not the ultimate shopping experience by any standards surely!!!

hey, it will be the only shopping centre in SA where all the shops are named exactly after what they sell (exept harvey norman), that makes it the best

[Edgar]

Good to see more developments up the north.

[Norman]

That looks nice, much better than the Mile End version.

[pushbutton]

hey, it will be the only shopping centre in SA where all the shops are named exactly after what they sell (exept harvey norman), that makes it the best

Ha ha ha!!!

Although it's not shown in the renders, I understand some of the other shops will include SAs first "Stupidly overpriced coffee" outlet, and also a huge new "Cheaphomewarerelatedcrapthatyoudontneedbutitstheonlystuffinhomehqyoucanaffordsoyoubuyitanyway" megastore, both of which will no doubt be extremely popular!!!