By Sarah Falson
MELBOURNE: Target has signed on as one of three anchor tenants in the $100 million Point Cook Town Centre development in Victoria, expected to open in December this year, but there is still space for more retail representation.
The shopping development will be 127,000 square metres and is expected to be a major retail hub in the fast-growing region.
Coles and Aldi have also signed on as anchor tenants, and there is room for 80 other specialty stores to set up shop in the centre.
Walker Corporation, the developer, has launched an advertising program to attract retailers to the centre.
Walker Corporation’s general manager retail, Trevor Dill, calls on major retailers to sign on.
“The signing of the major national chains is a very significant vote of confidence in an area that is widely recognised as one of Victoria’s fastest growing population corridors,” he said.
“We are confident that the retail centre, which will serve about 55,000 residents in the immediate Point Cook community, will be fully leased by national and local retailers by opening and we are experiencing a strong flow of enquiries for space.”
There are over 135,000 people living within a 10-minute drive of the centre and the growth is forecast to continue at 5.3 per cent per year until 2009, according to Deep Research.