THE new owner of The Shops at Ellenbrook says it is too early to discuss expansion plans and whether a cinema is on the cards for the future.
Vicinity Centres bought The Shops at Ellenbrook from the Insurance Commission of WA for $231 million last month.
The Shops at Ellenbrook will become part of Vicinity’s portfolio of more than 100 shopping centres across Australia, including Galleria, Midland Gate and Mandurah Forum.
Settlement is expected to be finalised by January, meaning the new owner will look after acquiring tenancies in the new bulky goods precinct.
First Choice Liquor has already signed up, while an Aldi Supermarket has announced its intention to establish a shop there.
The Insurance Commission has owned the shopping centre since 2004. Commission chief executive Rod Whithear said Vicinity’s offer was highly competitive and was selected because it best addressed the Commission’s sale objectives.
“I congratulate Vicinity on their successful bid for the retail property portfolio and look forward to seeing the shopping centres continue to prosper under Vicinity’s management,” he said.
The sale proceeds will be reallocated to other assets in the Insurance Commission’s investment portfolio.
Vicinity external affairs manager Brandon Phillips said The Shops at Ellenbrook was a great centre with a great future.
“Vicinity Centres manages a significant portfolio of shopping centres in WA and nationally and Ellenbrook is a high calibre addition,” he said.
He said the additional land around the centre was a great opportunity for the future but it was too early to provide any details.
Ellenbrook residents have taken to social media to express their retail desires for the area, with Kmart and Target at the top of the list.