Arndale Central
Arndale Central Shopping Centre is located at 34°52′28″S 138°32′58″E / 34.8744°S 138.5495°ECoordinates: 34°52′28″S 138°32′58″E / 34.8744°S 138.5495°E in the suburb of Kilkenny in Adelaide and is managed by Federation Limited (formerly Centro Properties Group). It used to be managed by Westfield. The facility is located on a main arterial, Torrens Road. There are approximately 120 retailers including Harris Scarfe (previously John Martin's), Homeart, Big W, Woolworths, Coles and Greater Union cinemas with over 2,500 parking places.
History
Arndale Central was first opened in 1963, it was built for the UK Development company Arndale Property Trust. It was the first in Australia of a chain of shopping centres by the Arndale group, the other being Marion Arndale. Unlike Marion Arndale (now known as Westfield Marion), the Kilkenny centre kept its Arndale name.
It was the first fully enclosed shopping centre in Australia to have airconditioning.
Redevelopment
The Arndale redevelopment was approved by the Charles Sturt Council on 11 October 2006, for the addition of 5,800 m² of lettable area and providing up to 50 new stores.
This has resulted in a $100 million development, adding a total of 11,350 m² of floor space or roughly 28 percent more space than previous levels. The redevelopment includes a larger Big W store, refurbished Woolworths supermarket, two small new malls, three new entrances, and additional parking spaces. It is estimated 1000 jobs have been created during construction and in retail.
Changes to the Charles Sturt development plan require for the rezoning of part of the site to include the use of supermarkets, discount shops and restaurants have been approved.
Owner Federation Limited also have plans for at least another two stages of development, expected to cost between $100 and 150 million.[1]
Sale
Federation Centre’s confirmed on May 13, 2014, that they planned to sell Arndale Central for $140 million, as part of their company restructure.[2]
A Federation Centre's ASX announcement on September 25, 2014, confirmed they were in talks with Armada Funds Management in relation to the sale of the centre. The centre would be sold for around $152 million with the transaction expected to settle in late October 2014.[3]
References
- ↑ Adelaide's Arndale mall gets $100m Centro Makeover, The Australian (23/11/2007) [Internet]. Available from: http://www.theaustralian.news.com.au/story/0,25197,22805595-25658,00.html
- ↑ Federation to sell Arndale Central for $140m, Financial Review (13/05/2014) [Internet]. Available from: http://www.afr.com/p/business/property/federation_to_sell_arndale_central_Yj2LOofhPQvEmNNJhc70FK
- ↑ Federation Centres agrees Arndale Central sale for $152 million, Federation Centres (25/09/2014) [Internet]. Available from: https://www.federationcentres.com.au/sites/default/files/Federation%20Centres%20agrees%20Arndale%20Central%20sale%20for%20$152%20million.pdf