Feature Stories Industry News Development

Walker brings forward development of major shopping Retail and Homemakers precinct to Riverlea

Riverlea's retail offering will arrive early as sales surge

South Australia’s fastest selling masterplanned community Riverlea will have a major shopping Retail and Homemakers precinct two years earlier than planned, in response to surging sales on the $3 billion project.

Walker Corporation Executive Chairman Lang Walker AO said Adelaide has fallen in love with his Riverlea vision and the speed in which lots are being sold is phenomenal.

“I want Riverlea to be my signature statement and an incredible place which will be revered in South Australia,” Walker said. “Over 240 house and land lots have been sold to date and hundreds of families are on the waitlist for our next Riverlea releases.

“Our project team is working around the clock to bring on the new stages to meet this huge surge in demand.

“I’ve now instructed our Riverlea team to bring forward development of our first District Centre Retail and Homemakers Precinct by two years to ensure our community has sensational shops, restaurants and cafés to enjoy.”

Stage one of the 80,000m2 Retail and Homemakers centre is now expected to start as early as early 2022.

Real Estate Institute South Australia Chair, Fairlie Delbridge said median values are reaching record highs across the state as well as in Adelaide’s North.

“With Adelaide’s North experiencing massive demand, expanding supply is imperative,” said Delbridge. “New masterplanned communities are important to address the rapidly increasing interest that South Australia is generating both locally and interstate.

“Suburbs that can provide access to excellent infrastructure, have development potential and are in locations that offer affordability, will always appeal to attract buyers and investors.”

Riverlea offers a long-term solution to the rapid population growth expected in Adelaide’s North West, anticipated to climb by 26,000 over the next decade alone.

Just 35 minutes’ drive from the Adelaide CBD and 40 minutes’ drive to the world-famous Barossa Valley, Riverlea will feature beautiful bike paths and walking trails around 50 hectares of lakes, 420 hectares of open space and parkland. Riverlea residents will also enjoy the best in modern amenities including four retail shopping precincts.

“Riverlea has a range of perfectly sized blocks which cater to people at all stages of their lives, from singles to empty nesters looking to downsize. All blocks are carefully integrated to be close to childcare, schools, shops, bike paths and walking trails, plus there is the added bonus of the new northern connector,” added Walker.

Riverlea will create 10,000 jobs for the South Australian economy building over 12,000 homes for 30,000 residents. Stage one is on track for completion early September with first residents ready to move in next year.

About the author

Shopping Centre News

Shopping Centre News (SCN) is in the ‘information business’, and is perceived as such by its readers. Daily industry news makes shoppingcentrenews.com.au a must-visit as part of the morning routine for those who want to keep right across the latest retail developments and events, while SCN's premium magazine is the leading publication for the shopping centre industry in Australia and New Zealand.

Known as the ‘industry bible’ SCN is printed five times a year with fascinating, in-depth features and important critical analysis written by known industry insiders as well as the popular ‘Guns’ reports, which ranks Australian shopping centre performances. Shopping Centre News is the only publication in the world that features centre statistics on Turnover, Turnover per square metre and Specialty Shop turnover per square metre for every major centre in Australia.

Add Comment

Click here to post a comment

Advertisement

Advertisement