Masters redevelopment makes progress

Four centres already open.

Home Consortium has recently opened four shopping centres around the country as part of its redevelopment of former Masters stores. The centres are located in Rutherford, NSW; Penrith, NSW; South Morang, VIC and North Lakes, QLD,

There will be a further four centres opened in December in Marsden Park, NSW; Pakenham, VIC; Tingalpa, QLD and Toowoomba, QLD. The various retailers across each centre will commence trading across the sites on a staggered basis over the coming weeks.

There are Bing Lee stores in Penrith and Marsden Park in NSW and there will be Good Guys stores in Pakenham in VIC and Tingalpa in QLD.

Home Consortium chairman, David Di Pilla said, “Home Consortium and our retailers are delighted with the strong consumer response to the openings that we have conducted over recent weeks in Rutherford in NSW and South Morang in Victoria where there have already been thousands of customer visits.

“Our retailers across the eight centres that will be open before the end of the year are gearing up to offer grand opening specials and promotions as we head into the holiday season.

“We would like to thank our advisors, financiers, consultants and contractors who have worked with us to prepare and complete the transaction with Woolworths, and who have then commenced the rapid transformation of the centre portfolio.”

There will be at least 30 additional centres set to open during 2018. Once the full repurposing is completed through the course of 2018, Home Consortium plans to have delivered 40 centres across Australia, the creation of at least 5,000 jobs across the operating sites and investment of approximately $250 million into the repurposing of the centres.

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