Frasers to build Eastern Creek shopping mall
Singapore-backed developer Frasers has won exclusive development rights for a site in the Western Sydney Parklands and plans to build a 50,0000sqm shopping mall, which the NSW government said would inject more than $100 million worth of investment into the city’s west.
The new retail centre will make up part of a $700 million development pipeline for Frasers Australia, which includes its planned residential development in Melbourne’s Wyndham Vale, with the site purchased last week from a local farming couple for $95 million.
The Western Sydney Parklands Trust remain owners of the site and Frasers will contribute an access fee to build and operate there.
It’s a great location in Western Sydney, one of the biggest population catchment areas in the country, and we see great potential in this development
Western Sydney Parklands Trust executive director Suellen Fitzgerald says the new shopping centre will create a long-term income stream for the trust.
“(It) will allow the trust to manage the remainder of the Parklands and deliver significant benefits to the Western Sydney community,” she says.
Frasers head of retail Peri Macdonald says the Eastern Creek shopping centre was part of a wider Western Sydney strategy.
“It’s a great location in Western Sydney, one of the biggest population catchment areas in the country, and we see great potential in this development,” he says.
Construction is set to start next year, subject to approval, with the centre expected to open by 2018.
“The first stage would be a neighbourhood convenience centre and we’re focused on large format retail and bulky goods after that, but it’s really subject to demand from our customers,” he says.
