Industry News

Crown’s Eastlakes emerging as Sydney’s latest urban growth area

The first stage of The Grand Shopping Centre comprising of 15 outlets will open progressively with a new, larger format ALDI in late May/early June

Eastlakes in Sydney’s southern eastern suburbs is fast becoming the city’s new growth area as Stage One of Crown Group’s $1 billion residential and retail master-planned community, The Grand, nears completion with three towers topped out and seven new retailers poised to move in by July.

Another five retailers are in advanced negotiations on space in the centre with expectations that it will be fully leased upon opening.

This marks a major milestone for the most exciting residential and retail development the area has seen in decades. It also marks the creation of the tallest building in the suburb.

Formerly known as Eastlakes LIVE, the first stage of The Grand Shopping Centre comprising 2,800m2 of retail space and 15 outlets will open progressively with a new, larger format ALDI, the first retailer to open in late May/early June.

Other retailers including a Woolworths Metro, Sushi Row, Ausome Nails, Hatch Espresso, Wholelife Pharmacy, Reni’s Car Wash and an Australia Post/Newsagency outlet will open in July.

The Stage One shopping centre will sit below a residential component where 133 apartments will soon be completed, spanning three buildings on the north side of the development. A second residential and retail precinct offering 65 or more stores and dining outlets will start construction next year.

Stage Two plans include 357 new apartments across five buildings and a $150 million shopping centre that includes up to 65 stores and a full-line supermarket Woolworths. A new eat street will offer an array of exciting restaurant and dining options alongside apartments set across five buildings. Construction of stage two will start in 2022.

Both stages will form a new and exciting shopping centre called The Grand, which replaces the 1960s built Eastlakes Shopping Centre, which is still currently operating. The new retail and dining precinct, with interiors by Buchan and design by internationally acclaimed architects Francis-Jones Morehen Thorp, is set to transform the area into a destination in itself. It will deliver 490 luxury apartments and at its heart will be a new town centre with up to 80 restaurants, cafés, shops and supermarkets when fully complete.

Crown Group Chairman and Group CEO Iwan Sunito said The Grand was the largest single development in the inner east, forming the most significant catalyst for growth for the area.

“As the Waterloo and Green Square areas have become almost fully developed, it’s quite natural for the next growth area to emerge, and with the development of new apartments and a new shopping centre with up to 80 retail outlets to come, Eastlakes is cementing its place as the next growth area,” he said.

Crown Group Chief Operating Officer Pierre Abrahamse said it was exciting to see progress on the development taking shape on the most anticipated development the area had seen.

“We will soon be able to welcome potential buyers to view completed apartments and to tour the new shopping centre in stage one,” he said. “Having a completed product that they can touch and feel makes an enormous difference in the buying decision, coupled with the convenience of an array of retail shopping and convenient dining immediately downstairs from one’s home.”

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