Ipswich shopping centre set to double in size
WORK will start next month on the expansion of an Ipswich neighbourhood shopping centre to more than double its size.
Consolidated Properties and Melbourne-based boutique property finance company CVS Lane Capital Partners will build a 3900sq m Coles supermarket and 12 speciality shops at the Karalee Shopping Village, next to an existing 3429sq m Woolworths-anchored neighbourhood centre.
Consolidated Properties executive chairman Don O'Rorke said the 5.92ha property, which is over three lots, was bought for $26 million in 2015.
"Our attraction to the centre was that the existing Woolworths was trading well and it came with two additional development sites, one of which had approval for a Coles supermarket and other speciality shops," he said.
