Construction has begun on AMP Capital’s $142 million development of Marrickville Metro Shopping Centre in Sydney’s inner west and is expected to take around two years to complete.The development will add an additional 11,000m2 making the total finished project 33,000m2. In the 2018 Little Guns survey, Marrickville Metro was ranked third highest performing centre based on Moving Annual Turnover per square metre, making it one of the best performing centres in its category.
AMP Capital is managing the development on behalf of owner UniSuper, one of Australia’s largest superannuation funds, will extend the existing ‘Metro’ centre to the south between Smidmore and Edinburgh Roads, Marrickville (6kms from the Sydney CBD).
The development is designed to celebrate the food and art culture of Sydney’s Inner West and reflect the industrial heritage of the area. It will also enhance the existing retail, leisure, dining and fresh food offerings.
The exciting development has been designed by Hames Sharley, with a focus on creating both socially and environmentally appropriate solutions. In addition, AMP Capital will be working with local artists and business owners to create a space that truly reflects the diversity of Sydney’s Inner West and those who call this area home.
AMP Capital’s Global Head of Real Estate Carmel Hourigan said the development will support the significant growth and transformation occurring in Marrickville and the Inner West. “We are excited to partner with our industry-leading client UniSuper, to deliver our shared vision of the future of retail through a sustainable development that reflects the Inner West’s vibrant community,” said Hourigan.
On completion, the centre will host an additional 44 new retailers including Coles, as well as a fresh food precinct and indoor and al fresco dining options. The new Coles supermarket will be in addition to the current Woolworths and Aldi.
There are a significant number of other construction projects for the local area currently underway or proposed, supported by total trade area population growth of 2.3% annum since 2011, and projected growth of 1.5% per annum, to reach a population of 440,000 by 2021.
UniSuper’s Head of Property & Infrastructure Kent Robbins said: “UniSuper is delighted to begin the next stage of the Marrickville Metro development, which will not only expand the size of the Metro to meet the demands of the growing Inner West community, but also ensure it reflects the essence of the Inner West.
We look forward to partnering with AMP Capital once again, as we work to create a retail space that is designed with a community focus; bringing public art and expression to the forefront and to create a destination that locals can be proud of.”
In true Inner West style, the development will ‘up-cycle’ a disused industrial warehouse located next to ‘The Metro’ and will maintain much of the existing warehouse facade, whilst extending south between Smidmore Street and Edinburgh Road. A pedestrian bridge and a street level ‘pedestrian only’ walkway connecting the new and old development space as well as a ‘pedestrian safe zone’ with wheelchair access.
ADCO Constructions has been appointed as construction partner for the development. The majority of the works will be undertaken outside the existing centre with minimal disruption to current tenants or trading.
AMP Capital and UniSuper are both long-term investors in NSW, and the development of the Marrickville Metro centre demonstrates their continued commitment to the community. AMP Capital anticipates the project will generate 200 construction jobs and over 600 job opportunities for the local community on completion.
This announcement follows the commencement last year of the $800 million Karrinyup Shopping Centre development, which AMP Capital is also managing on behalf of owner UniSuper. The development will see Karrinyup Shopping Centre almost double, growing from 59,874m2 to 109,000m2.