QUEENSLAND ACTING PREMIER JACKIE TRAD OPENS WESTFIELD NORTH LAKES STAGE 2 REDEVELOPMENT TODAY WITH BRISBANE’S SECOND IKEA STORE

17 November 2016

The $170 million Stage 2 redevelopment of Westfield North Lakes is complete and was formally opened today by Acting Premier Jackie Trad, with the launch of a new IKEA store and a new 60-store retail mall linking to the existing centre.

The new 18,000 sqm retail mall is anchored by Kmart, JB Hi-Fi Home and also includes Rebel, Cotton On, Forever New and Sportsgirl. This latest expansion consolidates Westfield North Lakes’ retail offer as the most comprehensive in Brisbane’s northern growth corridor.

Westfield North Lakes is jointly owned by DEXUS Wholesale Property Fund and Scentre Group, whose Chief Operating Officer Greg Miles said: “The growing needs of this community have been matched by the development of Westfield North Lakes. Its consistent growth – from a ‘greenfield’ site in 2003 to a 113,000 square metre mall with 280 stores today – is in line with this area, which is one of the fastest growing in Queensland. We have delivered a centre that is tailored to meet the needs of this family-based community.”

DEXUS Wholesale Property Fund Manager, Michael Sheffield said: “This latest stage of the development of Westfield North Lakes will provide more choice, a better customer experience and jobs for the local community. We are committed to delivering a centre that continues to evolve to serve the needs of its local community.”

“The Moreton Bay region has emerged as a vibrant, desirable community and the opening of this redevelopment is testament to the strength of the local economy here,” Ms Trad said.

“The Palaszczuk Government welcomes this investment from the private sector, which will deliver around 900 additional retail jobs in addition to the 4,700 jobs that were generated during construction.”

The completion of the stage 2 redevelopment of Westfield North Lakes also sees the introduction of Ticketless Parking – a first for Westfield centres in Queensland – allowing customers to enter and exit the centre with ease, and a parking guidance system with real-time electronic signage guiding customers to available spaces. Westfield North Lakes now has 4,900 car spaces, incorporating a new multi-level under cover car park.

This project follows an $80 million redevelopment completed in November 2015 which included the addition of two new precincts: a fresh food market and a casual dining area ‘The Laneway’ with seven new restaurants and an eight-screen Event Cinemas complex which opened in Easter this year.

Westfield North Lakes now has the broadest retail offer available from Brisbane’s northern-most suburbs to the Sunshine Coast – and with a list of anchor stores that includes IKEA, Myer, Target, Kmart, BIG W, JB Hi-Fi, and Rebel, cinemas, new fresh food and dining precincts, and a state-of-the-art children’s playground, the centre is the premier retail, entertainment and lifestyle destination in the region.

 

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For more information please contact Julia Clarke – Scentre Group Corporate Affairs
+ 61 2 93587426

 

About Scentre Group:

Scentre Group (ASX Code: SCG) is the owner and operator of Westfield in Australia and New Zealand with interests in 40 centres encompassing approximately 11,670 retail outlets and total assets under management of $43.3  billion.

 

About DEXUS Wholesale Property Fund:

DEXUS Wholesale Property Fund (DWPF) is an open-ended unlisted property fund with a $7.1 billion diversified portfolio of retail, office and industrial properties located in key locations across Australia. DWPF is managed by DEXUS, one of Australia’s leading real estate groups with $22.2 billion of assets under management.