Churchill Centre North, Adelaide

Completion of construction of the Company’s flagship Churchill Centre North Shopping Centre occurred in May 2014.

The Churchill Centre North sits on 18 hectares of land, and comprises South Australia’s first and currently only Costco store as well as a major sub-regional shopping centre, consisting of a 5,500 sq.m. Coles supermarket, a 5,400 sq.m. Kmart Discount Department Store, several other mini-major retailers and approximately 55 specialty shops. The Centre also incorporates a Coles service station alongside several other pad sites of fast food outlets incorporating McDonalds and KFC restaurants, and other strategic retailing uses, including Repco and a Kmart Tyre and Auto centre. In total, this northern stage is designed to incorporate in excess of 40,000 sqm of quality
destination retail.

Construction of German retailer Aldi was successfully completed in March 2016 and Aldi commenced trade soon after along with a 350 sq.m medical facility. The success of the Centre expansion has been evident in the significant increase in both customer foot traffic to the Centre as well as retail turnover. On the back of this successful expansion, the Company and its partner are working on various schemes to fully develop the (approximately) 3 hectares of surplus land and has had some strong interest from national and international retailers and other groups to anchor the subsequent stages.

A development application has been lodged with Council to incorporate an additional 5,500 sq.m of retail floor space covering the balance of surplus land.  Approval for this final stage is expected by mid-year.