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10 February 2010
Development Approval for Caneland Central
The Lend Lease managed Australian Prime Property Fund Retail (APPF Retail) today announced that final approvals have been granted to proceed with the $210 million redevelopment and expansion of Caneland Central shopping centre in Mackay, Queensland.
Caneland Central is located in one of Australia’s fastest growing regions, and is one of the highest performing assets in APPF Retail’s $3 billion portfolio.
Carmel Hourigan, Chief Executive Officer of APPF, said “This project is one of the first significant retail redevelopments to be approved in Australia since the global financial crisis and illustrates our continued focus on ensuring our centres meet the unique needs of their specific trade areas.”
The development will see the centre expand from 39,000sqm to a total of approximately 62,500sqm and will include the region’s first Myer department store, a new outdoor dining offering, additional specialty stores, and car parking.
Best practice environmentally sustainable design and development initiatives will feature throughout the new development, with a 4 Star Green Star Retail Centre v1 Rating being targeted to reduce energy and water consumption and improve the indoor environment with natural daylighting and environmentally sensitive material selections.
The expansion of Caneland Central is part of APPF Retail’s long term strategy to enhance the potential of its high performing major regional shopping centres. The significant expansion of the centre incorporates the findings of several years planning and research into the retail, recreational and community needs of the Mackay trade area.
The project is another example of the Lend Lease integrated model. Owned by APPF Retail, the centre has been managed by Lend Lease’s Retail business since the purchase in 2001. Bovis Lend Lease will provide project management, design and construction for the development.
Lend Lease Chief Executive for Asia Pacific, Rod Leaver said “The Lend Lease integrated offering takes advantage of the full extent of our capabilities to create assets that benefit and respond to the needs of local communities. Caneland Central is a case in point.”
“We will be applying the retail expertise we have harnessed over several decades to the redevelopment,” Mr Leaver added.
The project will commence on-site in April 2010, with anticipated completion in September 2011.
For all Media enquiries please contact:
Rachel Mornington-West
Corporate Affairs Manager
Tel: +61 2 9277 2525
About Lend Lease
Lend Lease is one of the leading fully integrated property solutions providers that creates, develops and manages real estate assets around the world. Our core capabilities cover the full property spectrum from development management, investment management, project management and construction, to asset and property management. Lend Lease’s activities are focused in Asia Pacific, Europe and the US. Lend Lease is committed to partnering with like-minded organisations and governments to deliver the best property outcomes. We aim to do this safely, ethically and sustainably.
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