Sunshine Plaza, located in Maroochydore on Queensland’s Sunshine Coast, has gained final approval to commence construction of a $400 million redevelopment, which is jointly owned by the Australian Prime Property Fund Retail, managed by Lendlease and The GPT Group.
Affirming its position as the largest retail centre north of Brisbane, Sunshine Plaza will expand from 73,000 square metres to over 107,000 square metres turning the strong performing centre into a leading fashion, leisure and tourist destination. Customers will enjoy an enhanced retail mix with the region’s first David Jones department store, a new BIGW, a refurbished Myer, a stunning new Amaroo Street mall entrance, provision for large format fashion operators and over 100 new specialty stores, bringing highly sought-after fashion brands to the Sunshine Coast.
The first stage of the redevelopment will involve the construction of a car park on vacant land behind Toys R Us. This will provide alternative customer parking during the construction of the first multi-deck car park, located at the Kmart entrance. Lendlease’s Head of Retail, Gary Horwitz, said extensive community consultation provided deep insights into the needs and aspirations of the local market.
“We are proud of our strong history at Sunshine Plaza, having delivered innovative and unique retail experiences which celebrate the outdoor coastal strengths of the region. The Centre already achieves solid results, ranking second in Queensland for specialty sales productivity and performs significantly higher than the national benchmark.
“The current performance of Sunshine Plaza indicates a strong demand for an expanded retail offer,” Mr Horwitz said.
GPT Group’s Head of Investment, Retail Scott Meehan said the development would strengthen Sunshine Plaza’s reputation as the Sunshine Coast’s leading retail and leisure destination.
“GPT is excited to invest in the expansion of one of its best performing shopping centres, which is located in a market that should continue to benefit from strong population and tourism growth.”