Scentre Group and joint partner and owner, QIC Global Real Estate, have announced a new $470 million development of Westfield Coomera on the Northern Gold Coast, Queensland. The modern, brand new development will be located only 500 metres from the Pacific Highway (M1) and right next to Coomera train station, offering customers a shopping experience and social destination in what is planned to be the heart of the booming region.
The development, reported to open late next year, comprises 140 specialty stores on a 59,000-square metre site, transforming the area and offering a modern precinct for customers. Among the major tenants already confirmed are Coles, Kmart, Woolworths, Target and a cinema. Along with numerous retail spaces, the centre will also have an entertainment area, various dining areas and large greenery spaces for the community.
Greg Miles, the Scentre Group’s Chief Operation Officer is confident that the development will serve the public well and become a hot-spot for the local community, reflecting the active and healthy lifestyle of the Gold Coast. He announced that: “This is the first Westfield ‘greenfield’ development in more than a decade and will form part of the longer-term Coomera Town Centre project that will encompass a wide range of amenities for the local region.
“Westfield Coomera will be a true community hub that has been curated to meet the needs of local customers whom we look forward to welcoming to the centre on its anticipated completion late next year.
Work for the project is currently well underway, with construction ending late next year. The new centre will provide nearly 7,500 jobs to the region during the construction phase and in retail positions when completed.
Scentre Group, the company leading the development, owns 39 Westfield shopping centres across Australia and New Zealand with $47.4 billion of assets under management, $900 million worth of developments under construction and total sales sitting at $22.9 billion.
The Westfield Coomera development isn’t the only project under construction that hopes to take advantage of the population growth in the area. Ground work began earlier this year on a $1 billion Coomera Town Centre on Foxwell Road. The 61,000-square metre first stage, costing $500 million will include features such as cinemas, offices and a nightclub and the 21,000 square metre second stage will feature a dining precinct, outdoor beach area and a multi-level department space with commercial retail space.
Due to the growing interest in the Northern Gold Coast, developers also plan to bring residential towers to the area, stating that the project is of the right density to house the people expected to move into the area as construction and population growth continues.
Ultimately, the new construction projects and plans for further development are expected to prepare the region for the coming growth and tourism to the area, stemming from the 2018 Gold Coast Commonwealth Games. Gold Coast North Chamber of Commerce President, Gary Mays stated that Coomera is, “on the up and up. There is a real sense of optimism here in the north and we are seeing a lot of activity, including at the Commonwealth Games sports complex