22 April 2015

Media Release

Stockland Hervey Bay today celebrated the completion of the $125 million redevelopment of the shopping centre with a grand opening event for the whole community to enjoy.

Fraser Coast Mayor Gerard O’Connell presided over the opening ceremony with Stockland Chairman, Graham Bradley, Stockland Managing Director and CEO, Mark Steinert and Stockland CEO Commercial Property, John Schroder to officially launch the centre and thank the community for their support.

Since the majority of construction and redevelopment work was completed in December 2014, the centre has exceeded customer expectations with sales up over 125% and visits up by 40% compared to the same period* prior to the completion of the redevelopment.

Stockland Managing Director and CEO Mark Steinert said: “Our $125 million investment into this centre is a clear vote of confidence in the future of this region,and forms part of the $3.7 billion we have currently invested in Queensland.”

Fraser Coast Mayor, Gerard O’Connell, said: “This is the biggest retail development this region has ever seen and it is a fantastic outcome for the entire Fraser Coast. I want to thank the staff from Stockland for the professionalism and dedication they’ve shown through this entire process. A project of this size shows the confidence that developers like Stockland have in the Fraser Coast and is a clear sign that we are moving forward.

“This will not only service our local residents, but will also double as a real drawcard and selling point for potential investors looking to make the move to the Fraser Coast, providing a huge boost to the local economy.”

The Stockland Hervey Bay redevelopment commenced in May 2013 and was completed over four stages. The centre has more than doubled in size from 15,600 square metres to more than 36,000 square metres. It now includes over 110 retailers including the first Kmart to Hervey Bay, a new full-line Coles, Target, Best&Less, Harris Scarfe, Petbarn, Spotlight, Cotton On Mega, Kathmandu and many more. It also hosts a 400 seat café style food court with outdoor dining and natural light and 1,680 car parking spaces. Stockland Hervey Bay is now the largest centre between Rockhampton and Maroochydore

John Schroder, Stockland CEO of Commercial Property, said: “We are so proud to be here today celebrating the amazing success of this shopping centre and the accomplishment of everyone who made it possible. We’ve seen an incredible response from the local community since we unveiled the new mall and we would like to thank all of our customers and retailers for their strong support.

“We’ve listened to the community from the inception of our planning process to ensure Stockland Hervey Bay would become a world-class shopping centre and highly-treasured asset for the local community. We spent a lot of time to ensure our design and redevelopment of the centre celebrates Hervey Bay’s unique sense of style and place and the retail mix perfectly reflects the region’s unique, outdoor coastal lifestyle.

“Many new retailers have been quick to identify and recognise the abundant opportunities on offer in Hervey Bay. We are excited to have welcomed 11 new small business owners to the centre over the past year, with one franchisee opening their second store in centre this month.”

The Hervey Bay Festival:

Hundreds of excited local shoppers joined in on the occasion today and were treated to a ‘taster’ of the three-month ‘Hervey Bay Festival’, to launch next month. The centre was bursting with fabulous food, fashion and fun-filled family activities including a free lunch from Shoreline café retailers, cooking demos from MKR Winner and Hervey Bay local Dan Mulheron, kids’ face painting and sand craft, live local music acts, fashion shows, giveaways and much more.

The Hervey Bay Festival will launch next Friday 1st May with three months celebrating what makes Hervey bay so special and unique. May will be the ‘Tastes of Hervey Bay’; June will be the ‘Styles of Hervey Bay’ and July will conclude with the ‘Hervey Bay Sessions’.

John Schroder said: “To celebrate our shared success, today we’re officially launching ‘The Hervey Bay Festival’, an action-packed three months of events, excitement and entertainment for the whole community to enjoy.”

Stockland
Stockland (ASX: SGP) was founded in 1952 and has grown to become Australia’s largest diversified property group – owning, developing and managing a large portfolio of shopping centres, residential communities, logistic centres, business parks, office assets and retirement living villages. Stockland is rated as one of the most sustainable real estate companies in the world by the Dow Jones Sustainability World Index (DJSI). Stockland is also an Employer of Choice for Gender Equality, as recognised by the Workplace Gender Equality Agency.