$400m Sunshine Plaza redevelopment kicks off soon

The project, which now has final approval, will expand the 73,000 square metre shopping centre to past 107,000sq m.

Its co-owners hope the redevelopment will consolidate Sunshine Plaza’s position as the largest retail centre north of Brisbane.

The transformed centre will feature new outdoor waterfront dining along Cornmeal Creek. Photo: Brad Newton

A David Jones department store will be introduced – a first for the region – with a new Big W. New large-format retailers will come in and 105 specialty stores will be added. The existing Myer store will be upgraded.

“This development will secure the asset’s position and dominance in a quality growth market that is benefiting from strong population growth, tourism and significant infrastructure spending in the region,” said GPT’s retail head Vanessa Orth.

The project is forecast to return a stabilised yield on cost above 6 per cent, Ms Orth said during GPT’s interim results presentation on Monday.

In the first stage of the project, a car park will be built on vacant land behind Toys R Us, providing alternative parking during the construction of a new multi-deck car park at the Kmart entrance. A second multi-level carpark will also be created.

“We are thrilled to be creating this amazing retail space for the Sunshine Coast,” said Lendlease’s retail head, Gary Horwitz.

“The design will capture the community’s desire for a sophisticated experience whilst reflecting the Sunshine Coast’s rich natural beauty and relaxed coastal lifestyle.

“We are proud of our strong history at Sunshine Plaza, having delivered innovative and unique retail experiences which celebrate the outdoor coastal strengths of the region.”