Home Consortium, which counts Chemist Warehouse among its shareholders, has revealed plans for 10 big new retail centres
Ten former Masters home improvement centres are set to open as large-format shopping centres between October and December 2017.
Chemist Warehouse is a shareholder in Home Consortium, alongside major shareholder and chairman David Di Pilla (Chairman, Board of Directors at aged care provider Aurrum) and several others.
Chemist Warehouse is listed as an example retailer in Home Consortium’s strategy plan, alongside Woolworths, Coles, IGA, Liquorland, Spotlight and Anaconda.
The malls will each be planned around one of three different themes depending on its local demographic, consumer demand, existing retail supply and regional planning considerations.
These themes are Daily Needs; Leisure, Lifestyle and Education; and Homewares and Electrical.
Planned services in the centres include medical centres and clinics, gyms, and childcare.
Mr Di Pilla said that Home Consortium is a “best of brand retail proposition that has been conceived and created in partnership with leading national retailers. The key focus is a convenient, value for money retail experience.
“The leasing success and ongoing lease enquiries we have received reflect the fact that retailers have been able to work with us as a single developer/landlord to plan and secure their store roll-out and growth strategies across a number of Australia’s key growth regions nationally.
“Home Consortium has been encouraged by the enthusiastic and constructive response by local councils and state planning authorities to our redevelopment proposals. We are pleased with the progress we continue to make given the wide range of locations and planning authorities involved.”
Overall Home Consortium’s portfolio includes more than 500,000 square metres of retail space, 80% of which is already either leased or under MOU with national retailers.
The first five centres are set to open in Rutherford, NSW and South Morang, Vic in October; Penrith, NSW in November; and Tingalpa and North Lakes, QLD in December. The remaining five centres, expected to be open by Christmas, will be announced shortly.
Home Consortium’s entire portfolio of centres is expected to be open by early 2019.
Colliers has been appointed as leasing agent for NSW, Victoria and Queensland, and Cushman & Wakefield appointed nationally as centre managers for the portfolio.