By Alesha Capone
ONE of Wyndham’s major shopping meccas will soon be on the market, with an asking price of about $200 million.
The Point Cook Town Centre will be put up for sale by the Walker Corporation during the next few weeks.
The centre won the Urban Taskforce’s Development Excellence Award for Retail Development last year.
Colliers International’s Retail Investment Services director Lachlan MacGillivray, who is marketing the property, said the fast-growing population of Point Cook made the area an attractive investment.
“There is currently very strong demand for Victorian retail assets due to the compelling story around population growth and Point Cook is situated right in the heart of Australia’s strongest growth corridor,” he said.
The centre is more than 42,000 square metres, and expected to grow to 70,000sqm (subject to council approval) in its next stage of development, to include an additional supermarket, discount department store and entertainment complex.
According to research by Pitney Bowes Business Insight and ABS statistics, residents in the area will spend $776.2 million on retail during the upcoming financial year.
Point Cook Town Centre is being offered for sale via an “international expressions of interest campaign” which will close on Thursday 10 March this year.
