The Lakeside Joondalup shopping centre is set for a $300 million revamp, with Lend Lease contracted to design and construct a 25,000 square metre expansion which will make it the largest retail development in Western Australia.
Lend Lease announced today it had won a $208 million contract for the redevelopment of the now-71,000sqm centre. The centre is owned by Lend Lease’s Australian Prime Property Fund and institutional partner, the federal government’s Future Fund.
The expansion will include a new Myer department store, a casual dining precinct and approximately 95 local and national retailers. Lend Lease head of retail Gary Horwitz said the developer would aim to deliver more than just a diversified retail mix.
“We look to integrate our shopping centres into their surrounding communities and deliver an experience that complements the lifestyle of our shoppers,” Mr Horwitz said. “We intend to not only establish Lakeside Joondalup as the best place to shop in the northern corridor, we will also transform Station Square with a vibrant new al fresco dining precinct that will improve the connectivity to the existing rail and bus interchange.” Construction is expected to take two years, with the centre completed before Christmas 2014.
The centre’s status as WA’s largest may be short-lived, however, with AMP planning a $350 million to $400 million redevelopment at Booragoon’s Garden City.