Vicinity unveils vision for future development at Chadstone

Vicinity Centres (Vicinity) has today revealed plans for five key projects, totalling $685 million*, to continue the evolution of Chadstone, with the community invited to provide feedback on the proposed developments.

Development applications (DAs) have been lodged with the City of Stonnington which include:

  • More than 1,400 additional car spaces, across two car parks (two separate DAs)
  • New nine-storey commercial office building on Middle Road
  • Expansion of the current dining terrace and leisure precinct
  • Upgraded fresh food precinct, with focus on workplace, wellness and lifestyle retailers
  • Further expansion of Australia’s biggest luxury mall

Meeting changing consumer lifestyle needs and addressing future employment trends is at the heart of the proposal which aligns to Vicinity’s mixed-use and market-leading destination strategy. The projects won’t increase the size of the precinct but rather refresh and repurpose existing space, utilising land within the current Chadstone footprint.

Vicinity’s Chief Development Officer, Carolyn Viney, said: “We’re excited to be able to share with our neighbours and the broader community our vision and proposed plans for the future of Chadstone, further enhancing its status as one of the world’s leading integrated lifestyle destinations, with more than 24 million visitors a year.

“We know Chadstone plays a significant role within the growing Monash economic region supporting ongoing and future employment. Our plans will address demand from commercial tenants wanting to be based at Chadstone and continue to deliver the experiences our customers and retailers have come to expect from The Fashion Capital.”

Ms Viney said with Victoria’s population expected to add another one million people by 2026^, places like Chadstone are well-placed to accommodate the city’s expansion without disrupting the liveability of Melbourne’s suburbs.

“Our destination centres, such as Chadstone, are community hubs bringing together the key elements that create the vibrant neighbourhood feel we all crave. We’re combining world class, experience-led retailing, convenient services, office space and accommodation, all enabled by robust public transport connections,” Ms Viney said.

The DAs are subject to the usual approval process by the City of Stonnington and the projects require approval by Chadstone’s co-owners. If approved, it’s anticipated work could begin in 2021, with completion within four years.

Chadstone Director, Fiona Mackenzie has invited the Chadstone community to be part of the planning process during 10 weeks of consultation, with information sessions to be held in December, January and February.

“Our customers and community have told us they want more dining and entertainment at Chadstone so our plans include an extended dining precinct and additional fresh food to match their lifestyle needs. We’re also working to improve accessibility with more than 1,400 additional car spaces - making Chadstone’s the largest, free car park in Australia.

“Transport remains a critical consideration for our customers, retailers and the broader Chadstone workforce and we think these projects, coupled with government investment in exploring the feasibility of light rail, will enhance the liveability and economic value of our region,” Ms Mackenzie said.

Projects overview

Car park
~ $97 million*
850+ spaces at David Jones car park
550+ spaces at Coles and Bulky Goods precinct

Office building
~ $130 million*
20,000 sqm
Nine storeys

Dining and leisure expansion
~ $53 million*
4,000 sqm new entertainment and dining space

Fresh food and wellness
~ $340 million*
16,800sqm new area including:
3,800 sqm retail
1,400 sqm café/restaurant
5,300 sqm health and wellbeing services
2,900 sqm childcare
1,000 sqm education
2,400 sqm co-working space

Luxury expansion
~ $37 million*
2,950 sqm of new area including
1,100 sqm new retail space

To learn more, or to attend one of the consultation sessions, visit www.chadstone.com.au/development

Chadstone is co-owned by Vicinity Centres and the Gandel Group.

* 100% interest. Vicinity's share is 50%.
^ Victoria in Future 2019 report.

For further information please contact:

Joel Crean
T +61 447 044 215
E Joel.Crean@vicinity.com.au

Kat Rellos
T +61 411 245 099
E Katherine.Rellos@vicinity.com.au

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