ONH: Golden Grove Village Redevelopment
Posted: Thu Aug 27, 2009 6:31 pm
HUNDREDS of local jobs will be created under a multi-million dollar plan to revamp Golden Grove shopping precinct into a residential, retail and entertainment hub, developers say.
Fitch Retail Property Trust bought the Golden Grove Village Shopping Centre from Colonial First State for $100 million last Monday, March 2.
Fitch also owns three neighbouring sites, on the corner of The Golden Way and The Grove Way, which will form part of the development.
The company is working on a five to 10 year plan, including:
*A $160 million five-storey apartment complex on land next to Golden Grove State Swim;
*A pool, tennis courts, gym, cinema, restaurants and specialty shops;
*Extending Golden Grove Village by 15,000sqm, with a new supermarket, department store, restaurants and specialty shops;
*A three-storey car park for bus commuters at the park and ride site; and
*A pedestrian overpass on The Golden Way, to link the apartments and shopping centre.
Project manager Brian Carr said now that the overall sites were owned by a sole developer, it would be easier to get the project off the ground.
``Hundreds of jobs will be created out of this from retail and construction,’’ Mr Carr said.
``It will be a mixed-use, transit orientated development ... servicing the area with resort-style living, more restaurants, shops and entertainment.
``It will be much easier for the (Tea Tree Gully) Council and State Government to work with one land controller to bring about the most effective village.’’
Fitch managing director David Fitch said the company would work with the council, community groups and the government to ensure the development was a balance between ``commercial and community interests’’.
``There’s been an under supply of entertainment and leisure facilities in the area because of its location out of the city, but this will provide all those facilities locally,’’ he said.
The company hopes to finish the master plan by the end of the year, with a view to start work by the middle of 2010.
Gully Mayor Miriam Smith said the new development was ``refreshing’’ for the area’s retail precinct.
``Certainly there’s a need for more retail in that area and the council has researched that,’’ she said.
``I think having sole ownership up there will streamline things better and our community can only benefit from it.’’
Fitch Retail Property Trust bought the Golden Grove Village Shopping Centre from Colonial First State for $100 million last Monday, March 2.
Fitch also owns three neighbouring sites, on the corner of The Golden Way and The Grove Way, which will form part of the development.
The company is working on a five to 10 year plan, including:
*A $160 million five-storey apartment complex on land next to Golden Grove State Swim;
*A pool, tennis courts, gym, cinema, restaurants and specialty shops;
*Extending Golden Grove Village by 15,000sqm, with a new supermarket, department store, restaurants and specialty shops;
*A three-storey car park for bus commuters at the park and ride site; and
*A pedestrian overpass on The Golden Way, to link the apartments and shopping centre.
Project manager Brian Carr said now that the overall sites were owned by a sole developer, it would be easier to get the project off the ground.
``Hundreds of jobs will be created out of this from retail and construction,’’ Mr Carr said.
``It will be a mixed-use, transit orientated development ... servicing the area with resort-style living, more restaurants, shops and entertainment.
``It will be much easier for the (Tea Tree Gully) Council and State Government to work with one land controller to bring about the most effective village.’’
Fitch managing director David Fitch said the company would work with the council, community groups and the government to ensure the development was a balance between ``commercial and community interests’’.
``There’s been an under supply of entertainment and leisure facilities in the area because of its location out of the city, but this will provide all those facilities locally,’’ he said.
The company hopes to finish the master plan by the end of the year, with a view to start work by the middle of 2010.
Gully Mayor Miriam Smith said the new development was ``refreshing’’ for the area’s retail precinct.
``Certainly there’s a need for more retail in that area and the council has researched that,’’ she said.
``I think having sole ownership up there will streamline things better and our community can only benefit from it.’’
