Stockland’s Wetherill Park wins prestigious property award
The $228 million redevelopment of Stockland Wetherill Park has been applauded at the 2018 Property Council of Australia / Rider Levett Bucknall Innovation & Excellence Awards.
Stockland staved off competition from eight other national retail centres to win the Yardi Award for Best Shopping Centre Development at a gala dinner in Sydney this evening.
Property Council Chief Executive Ken Morrison says Stockland “successfully transformed a 32-year-old building into an active retail, dining and entertainment centrepiece”.
“Stockland’s strategy reflects customers’ growing interest in fresh food, casual dining and entertainment. This innovative approach shows how retailers can not only survive but thrive in the digital age.”
First developed by Stockland in 1983, the centre’s most recent two-staged redevelopment was completed in December 2015, with the refurbishment of the fresh food precinct completed in September 2016.
The redevelopment increased retail space by 27 per cent, introduced a 800-seat food court, and more than doubled the fresh food and casual dining offerings. With more than 70,000 sqm of gross lettable area, Stockland Wetherill Park is now the leading retail offering in the area.
The centre recorded more than 721,000 customer visits when it launched, a 42 per cent increase on the corresponding trading period the previous year.
According to RLB’s Managing Director NSW, Matthew Harris, the level of architectural detail, the mix of retailers and the vibrancy of the resulting development support a socially dynamic local neighbourhood.
“Stockland Wetherill Park launched the first Jamie Oliver’s Ministry of Food in the country, which conducts classes to educate people on healthy eating and how to prepare simple meals using fresh and seasonal produce,” Mr Harris says.
“The redeveloped centre is now a vibrant and economically prosperous social hub that caters to a diverse community and has been a catalyst for economic regeneration in the area with 2,250-plus jobs generated.”
Stockland Wetherill Park also took home the CEFC Award for Best Sustainable Development – Existing Buildings. RLB has partnered with the Property Council of Australia to present the Innovation & Excellence Awards program since its inception in 1982.
The 2018 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Award winners were announced on Friday 11 May at a gala dinner at the International Convention Centre Sydney. A full list of winners is available online: www.propertycouncilawards.com.au
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