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.”