The new Macquarie Centre has been officially unveiled, following the opening on 16 October of the final stage in AMP Capital’s $440 million redevelopment of the centre in Sydney’s Macquarie Park.
A major milestone in the delivery of AMP Capital’s $5 billion property development pipeline, the new centre was delivered ahead of schedule and on budget. Growing to over 138,000sqm in size, Macquarie Centre is the largest suburban shopping centre in Sydney.
The stage two opening revealed the first new David Jones store to open in Sydney in seven years and a new two-level fashion galleria that from 16 October, will see around 100 new stores open. Macquarie Centre is also now home to the most large-format international high street fashion brands of any Australian shopping centre, featuring Sydney’s first H&M and UNIQLO stores as well as Gap and Zara. American fashion retailer Forever 21 will open its first Sydney store in Macquarie on 6 December. The centre also features a strong stable of Australian designers including Scanlan Theodore, Zimmermann, Alice McCall, Gorman, Willow and Sass & Bide.
The new look centre also features premium services such as valet parking and free Wi-Fi throughout the centre. Dramatic, bespoke art installations by local Australian artists are also weaved throughout the centre, while the innovative 21-metre curved digital screen unveiled in the stage one opening of the Fresh Food Market delivers creative, ambient content and sound.
Managing Director of AMP Capital Shopping Centres, Bryan Hynes said that in the new Macquarie Centre, the AMP Capital team has delivered an exceptional product in a growing trade area drawing on north-west Sydney’s business, student and residential markets.
“Our focus on place-making and creating a destination rather than just a shopping centre is really showcased at Macquarie Centre, which has been designed with a point of difference – we listened to our customers and the end product is a result of this collaborative, customer-focused approach that I can confidently say is industry leading.
“By focusing on crafting interactive experiences, we have transformed Macquarie into a leading contemporary urban centre, which is a great outcome for customers, retailers and investors,” Mr Hynes said.
Managed by AMP Capital Shopping Centres and owned by the AMP Capital Shopping Centre Fund, the Australian Core Property Portfolio and the AMP Capital Retail Trust, the multi-million dollar redevelopment exemplifies AMP Capital’s focus on redeveloping clients’ assets with strong growth potential, with a view to delivering long term performance for investors.
AMP Capital Director of Property, Andrew Bird said that significant projects like Macquarie are made by possible by investor support.
“We had a long-held vision for Macquarie as a centre that could deliver something special. By outlining this compelling vision and our specialist capability to deliver it, we gained the support of investors both Australian and international.
“Thanks to the hard work, commitment and dedication of many in our business, we have delivered on that vision for our investors, realising Macquarie’s potential and delivering an outcome that will justify the faith our investors have placed in us, in the centre, its market and the NSW economy,” Mr Bird said.
The Macquarie Centre development is pivotal being the first major delivery in AMP Capital’s $5 billion development pipeline which also includes projects at Ocean Keys, Garden City and Karrinyup in WA, Pacific Fair in Queensland, and 200 George Street and the prospective Quay Quarter project in Sydney.