[CAN] Castle Plaza Shopping Centre Redevelopment
[CAN] Castle Plaza Shopping Centre Redevelopment
Hills site sold for retail project
RHIANNON HOYLE, REAL ESTATE EDITOR
July 06, 2007 02:15am
PLANS are being prepared for an upgrade and expansion of the Castle Plaza Shopping Centre after the centre's owner acquired the adjacent Hills Industries site for $25.3 million.
While a development application for the Edwardstown site is yet to be put to council, the expansion project has been valued at about $80 million.
The development is expected to consume about 2.5 ha of the 7.78 ha Hills Industries parcel, fronting South Rd, acquired by the CFS Retail Property Trust earlier this week.
Hills Industries said the site was now surplus to their manufacturing and distribution requirements. Settlement is due in 2009.
Fund manager Michael Gorman said the expansion would likely comprise a new supermarket, a discount department store and space for further speciality retailers.
"This acquisition is highly advantageous for the Trust, in terms of providing further development opportunities for Castle Plaza Shopping Centre, which the Trust purchased in October 2002," he said.
RHIANNON HOYLE, REAL ESTATE EDITOR
July 06, 2007 02:15am
PLANS are being prepared for an upgrade and expansion of the Castle Plaza Shopping Centre after the centre's owner acquired the adjacent Hills Industries site for $25.3 million.
While a development application for the Edwardstown site is yet to be put to council, the expansion project has been valued at about $80 million.
The development is expected to consume about 2.5 ha of the 7.78 ha Hills Industries parcel, fronting South Rd, acquired by the CFS Retail Property Trust earlier this week.
Hills Industries said the site was now surplus to their manufacturing and distribution requirements. Settlement is due in 2009.
Fund manager Michael Gorman said the expansion would likely comprise a new supermarket, a discount department store and space for further speciality retailers.
"This acquisition is highly advantageous for the Trust, in terms of providing further development opportunities for Castle Plaza Shopping Centre, which the Trust purchased in October 2002," he said.
Re: #Proposed - Castle Plaza redevelopment
Should be interesting with the Westfield Marion Development just up the road.
Re: #Proposed - Castle Plaza redevelopment
South Road is going to be totally different drive in a few years. A whole lot less industrial which will be nice.
Re: #Proposed - Castle Plaza redevelopment
Industry gotta be somewhere....beamer85 wrote:South Road is going to be totally different drive in a few years. A whole lot less industrial which will be nice.
Re: #Proposed - Castle Plaza redevelopment
Why not in the metro?
But yeah, the industry has got to be somewhere... China at this rate.
So... South Road bus lane?
But yeah, the industry has got to be somewhere... China at this rate.
So... South Road bus lane?
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Re: #Proposed - Castle Plaza redevelopment
I want south road motorway.........with a bus lane!AtD wrote: So... South Road bus lane?
Re: #Proposed - Castle Plaza redevelopment
Fair enough, we should move all industry out of the city so people who live in the metro can drive for 2 hours to get to there jobs :wank:beamer85 wrote:yeh but not in the metropolitan area. IMO.
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Re: #Proposed - Castle Plaza redevelopment
I don't think Castle Plaza needs to be any bigger, with Westfield Marion just down the road! As for putting in another supermarket, that would make 3 supermarkets in Castle Plaza, which in my opinion would be just rediculous!
I suppose the owners must think there is demand for it though.
Personally I think if we need to start developing any new large regional shopping centres in SA it should be in the expanding north and south suburbs, such as say Gawler and Seaford, although even then they don't need really massive new centres as these are quite well served already by centres such as Elizabeth Shopping Centre and Centro Colonnades, respectively.
I suppose the owners must think there is demand for it though.
Personally I think if we need to start developing any new large regional shopping centres in SA it should be in the expanding north and south suburbs, such as say Gawler and Seaford, although even then they don't need really massive new centres as these are quite well served already by centres such as Elizabeth Shopping Centre and Centro Colonnades, respectively.
Re: #Proposed - Castle Plaza redevelopment
Perhaps Woodlands Park station can be moved towards Raglan Rd to better serve the centre, like Oaklands and Marion.
Re: #Proposed - Castle Plaza redevelopment
Seaford Shopping Centre has just been expanded, not sure about Gawlerpushbutton wrote:I don't think Castle Plaza needs to be any bigger, with Westfield Marion just down the road! As for putting in another supermarket, that would make 3 supermarkets in Castle Plaza, which in my opinion would be just rediculous!
I suppose the owners must think there is demand for it though.
Personally I think if we need to start developing any new large regional shopping centres in SA it should be in the expanding north and south suburbs, such as say Gawler and Seaford, although even then they don't need really massive new centres as these are quite well served already by centres such as Elizabeth Shopping Centre and Centro Colonnades, respectively.
As for Castle Plaza, not surprised its getting a revamp. Its looking pretty tired.
Re: #Proposed - Castle Plaza redevelopment
nah a south road O-BahnAtD wrote:
So... South Road bus lane?
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Re: #Proposed - Castle Plaza redevelopment
The future of the existing O-Bahn is in doubt so I doubt they'll build a new one.
As for a revamp of castle plaza, yes I agree it needs a refurbishment, but not necessarily any significant expansion.
As for a revamp of castle plaza, yes I agree it needs a refurbishment, but not necessarily any significant expansion.
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Re: #Proposed - Castle Plaza redevelopment
Ok but I still think IN THEORY (only) it would be a great idea.Cruise Control wrote:was a joke pushbutton....
In fact apart from the difficulty the government is apparently having in finding suitable vehicles, I think the expansionj of the O-Bahn all over metro Adelaide (parellel to major arterial roads) would be a fantastic idea, and better than trams in that the buses can be used on roads as well as tracks and that would make for a very flexible and easily changable as well as efficient and effective public transport system.
O-Bahn buses when on tracks are also probably capable of going a lot faster than trams.
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