Works is set to go underway on an $800 million expansion project that will almost double the size of the Karrinyup Shopping Centre in Western Australia, with AMP Capital - in behalf of UniSuper - naming Multiplex as the preferred builder for the project.
“As long-term investors in Western Australia, today marks a significant day for AMP Capital and our valued client, UniSuper and its members who are the ultimate recipients of the compelling investment returns that this development aims to deliver,” AMP Capital’s Global Head of Real Estate Carmel Hourigan said.
Multiplex is expected to begin construction next week on the project that will expand the shopping centre from 59,874-SQM to 109,000-SQM, adding more space for extra supermarkets, retail space, a new state-of-the-art cinema and an al fresco dining precinct.
The expansion - designed by Perth-based architecture firm Taylor Robinson Chaney Broderick and Hames Sharley - will also include a residential building with up to 134 high-end apartment units.
“UniSuper is excited to commence construction on the development of Karrinyup to meet the needs of our customers and the community. In partnership with AMP Capital, we will deliver new dining, entertainment and retail formats consistent with the fast-moving evolution of the retail market globally, while retaining a distinctive Karrinyup style,” UniSuper’s Head of Property and Infrastructure Kent Robbins said.
The expansion is expected to support up to 2,500 jobs during construction and a further 2,500 jobs in retail, management and support once the expansion is completed.
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