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Scentre, GIC Real Estate plan A$450M redevelopment in Australia

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Scentre, GIC Real Estate plan A$450M redevelopment in Australia

and Singapore'sGIC Real Estate plan to redevelop the Westfield Whitford City in Perth forA$450 million, The Australianreported.

Theco-owners will add"a new casual dining & entertainment precinct" at the property,according to a statement.Work on the revamp is scheduled to start by the endof August, with completion slated to occur by late 2017. The initial phase ofthe project entails a dining and entertainment area that will connect with aneight-screen EventCinemas complex and a reconstructed Rebel Sport store.

Thenew precinct aims to offer an outdoor experience for shoppers at the WestfieldWhitford City, the publication reported property manager Scott Greenwood assaying.

WestfieldWhitford City has 302 retailers, 77,781 square meters of gross lettable areaand 4,165 car parking spaces, according to Scentre.Aside from Rebel Sport, key retailers of the shopping center include Target,Woolworths, Coles and Bunnings Warehouse.

As of July 21, US$1 wasequivalent to A$1.33.