Retail property group McConaghy Properties has announced a $34 million redevelopment of its flagship Townsville shopping centre, Castletown, which will see the arrival of a new Coles supermarket, new specialty retailers, a new entry statement and improved facilities. It is the fourth major investment to be undertaken at Castletown by McConaghy Properties, which purchased the centre in 1989.
The Development Application has been approved by Townsville City Council and will create up to 160 jobs during construction and up to 100 new jobs within the centre once the redevelopment works are completed.
Chief Executive Officer, Gary McConaghy, said that despite the far-reaching impacts of COVID-19 on the retail sector, the company is committed to Castletown and the Townsville community.
“We will be doing everything possible to forge a successful redevelopment during these challenging operating conditions,” McConaghy said.
“There has never been a more important time to support and invest in our retailers and community. In doing so, we are also creating jobs, building confidence, and contributing to Townsville’s economic growth in a meaningful and sustainable way,” he said.
McConaghy said the arrival of Coles together with a refreshed format and new facilities will position Castletown as the local shopping centre tailored to the community and their everyday needs.
“Castletown’s fresh food offer at Kings Road Market is a strong drawcard for families and the arrival of Coles will further complement this offer, while generating significant additional visitors each year,” he said.
Construction is scheduled to commence in February 2021 and is expected to be completed by Christmas.
“As part of our $34 million redevelopment we have set ourselves a long-term vision for Castletown that will see the addition of a new Coles supermarket, new entry statement, improved access, upgraded car parking, new parent facilities, and a revitalised Playtown. We are investing in architecture and design that is distinctively Townsville, bringing the outside in with greenery, light, and personality,” he continued.
“This local feel extends to our retailers, existing and new, who represent a mix of unique and iconic independent operators and leading national brands – the ultimate everyday experience under one roof.”
Castletown will remain open for trade throughout the redevelopment.