Brookfield Multiplex win $600m Karrinyup Shopping Centre redevelopment

AMP Capital has named construction company Brookfield Multiplex as the builder for the $600 million redevelopment of Karrinyup Shopping Centre in Perth's north.

Brookfield Multiplex undertook an extensive refurbishment of Karrinyup shopping Centre in 1996, and many of the original team are excited to have the opportunity to again bring Karrinyup Shopping Centre into a new age. 

“Brookfield Multiplex has a strong history of delivering landmark retail developments in Western Australia and Karrinyup Shopping Centre will be no exception" said Brookfield Multiplex CEO John Flecker.

"We look forward to working collaboratively with AMP Capital and renowned architects Hames Sharley and Taylor Robinson to finalise the detailed design over the coming months ahead of starting construction next year.”

According to Business News, it's understood that AMP Capital, which manages the centre of behalf of owner UniSuper, had shortlisted Brookfield Multiplex and Lendlease for the build. 

The Karrinyup expansion is Brookfield's second big retail project win this year, following the April announcement that they've been appointed the $350 million redevelopment of Mandurah Forum. 

Due for completion in 2019, the centre will deliver a number of new large format international retailers, high-quality fashion retailers, food and entertainment offerings, and 150 residential apartments.

The redevelopment will create 2,500 jobs during construction including operators for plant such as excavators, rollers, dozers, scrapers, tipper trucks, access equipment and more. 

Image Courtesy of AMP, Artsts impressions and Floor Plans

AMP Capital Shopping Centres State Development Manager Scott Nugent said “The redevelopment of Karrinyup will see the centre expand from 59,715 square metres to 113,000 square metres, and will surpass all other retail precincts previously delivered in Perth for its range of shops, lifestyle and entertainment options."

The rival Scentre Group, which exited its stake in Karrinyup in 2013, last year outlaid plans for more than $1 billion of shopping centre developments in Perth with a $450m expansion of Westfield Innaloo and more work at Westfield Whitford City, which it co-owns with GIC Real Estate. Lend Lease and the Future Fund have also flagged plans to upgrade their holdings.

Here's hoping the properties will encourage more developers and investors who want to participate in the next wave of shopping centre developments in the city. 

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