$80M expansion breathes new life into Karalee Shopping Village
01 MAY 2019 –
Construction is complete on the $80 million expansion of Karalee Shopping Village, representing the biggest shopping centre upgrade undertaken in Ipswich’s north-eastern growth corridor.
The expansion, which commenced in April last year, has seen an additional 6,214sqm of retail space delivered, more than doubling the total floor area of the centre. A brand new full-line Coles and 15 specialty stores join the existing Woolworths and specialty offering at Karalee Shopping Village.
The line-up of new stores includes Liquorland, Diamond Cut Hair and Makeup, Dollar Deals, Chapters Cafe, LeTan Fresh Fruit and Vegetables, My Beauty Station, TSG, Karalee Pizza and Ribs, Robbo’s Bakery, Eyecare Plus, Moss and Sparrow, and a dedicated restaurant and food precinct. In addition, the adjoining Medical Centre has also doubled in size.
McDonalds has purchased a site in the centre and is expected to commence construction in the coming months on a new restaurant which will include a McCafe and Drive Thru service as well as create up to 100 full time jobs.
Karalee Shopping Village owners and managers Consolidated Properties Group and CVS Lane Capital Partners say the new look centre is part of Karalee’s ‘coming of age’ as development ramps up in the north-eastern suburbs.
Consolidated Properties Group Executive Chairman Don O’Rorke says the expansion of the centre was planned with the needs of the community in mind.
“The addition of the new supermarket was essential to meet the needs of the growing population within the catchment.
“Karalee and surrounding suburbs are expected to see continued strong growth over the coming years, so the redevelopment of this shopping centre is about three things – delivering local jobs, creating a more convenient lifestyle and keeping expenditure in the local community,” he said.
“During the construction phase of this project, undertaken by Hutchinson Builders, a total of 200 contractors were employed, many of them from the local area. The opening of the new Coles supermarket and specialty stores has also created an estimated 120 ongoing positions and McDonalds will add to this in the near future.
“The convenience of living within easy reach of work and having a neighbourhood shopping village with a complete offering of everyday goods and services under one roof will no doubt have a positive impact on the lives of people in Karalee and surrounding areas.
“We have worked hard to select the right mix of retailers to join the new part of the centre, and in doing so we are aiming to contain spending in the Karalee community, to create a cycle of continuous growth through locals supporting local businesses.”
CVS Lane Capital Partners CEO Lee Centra says Karalee Shopping Village is ideally positioned as a local and commuter shopping hub.
“Karalee Shopping Village is now the complete package for the growing neighbourhood, anchored by a Woolworths and Coles supermarket.
“The expanded Karalee Shopping Village adds to the strength of our retail portfolio that focuses on the development, refurbishment and ongoing ownership of neighbourhood centres anchored by non-discretionary retailers in high-growth regions,” he said.
While the centre predominantly services local residents, its proximity to the Warrego Highway and location less than 15 minutes from the Ipswich CBD means it experiences trade from a broader catchment.
A limited number of tenancies remain available in the now completed Karalee Shopping Village.
For leasing enquiries please contact Rob Clifton on 0407 500 325.