Revelop’s Newton Village shopping centre to undergo multimillion dollar upgrade
The new owners of the Newton Village shopping centre have unveiled plans for a major multimillion dollar upgrade, including the development of a new childcare centre.
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Western Sydney developer Revelop has hit the ground running following its acquisition of Newton Village shopping centre, securing 10 new tenants since taking over the neighbourhood centre.
Popular fruit, veg and gourmet food store Tony & Mark’s will open at the centre later this year, while CBD eatery The Messy Tomato will open a second store at Newton as part of a centre-wide upgrade.
In addition to the 10 new tenants, and lease renewals with several existing tenants, Revelop plans to invest more than $10 million in a centre upgrade including a proposal to build a childcare centre on the rooftop car park.
The plans have been submitted to the local Campbelltown council, and subject to council approval, the 96-place centre is expected to open by the middle of next year.
Other retailers secured at the centre include butcher Taste Quality Meats and national hairdresser and barber Moe & Co.
Revelop director Charbel Hazzouri said while the coronavirus pandemic had prevented the new owners from visiting Adelaide in recent weeks, direct negotiations with incoming tenants had proven a success.
“We’re very persistent - a lot of tenants, when dealing direct with the owner, they’re more open because there isn’t that middle person,” he said.
“We managed to secure Tony & Mark’s, which is a real drawcard, and has been the catalyst to bring in other tenants.
“It’s the key to unlock the tenancy mix we wanted to create in the centre. We targeted all of these tenants and we had a key goal of what we wanted in the centre.
“We’re now creating different areas in the centre, so more of a beauty precinct, medical, and creating more of a providoring or food area in front of the Coles.”
Revelop paid Con Makris $35 million to take over Newton Village in March, adding to its two other SA investments - Renmark Square and Gawler Park homemaker centre.
The 10,000sq m Newton centre is anchored by Coles and Woolworths supermarkets, which will both undergo a facelift as part of the centre-wide upgrade.
As part of the planned improvements, Revelop will upgrade lighting and common areas and introduce a children’s play area. Work on new fit-outs for new and existing tenants will start this month.
“Our aim is from now until Christmas, to have everything completed with all tenants operating, but it will be a staged process,” Mr Hazzouri said.
“We’ll also have a lot of upgrades to the centre - brand new shade sails on the rooftop, a parents’ room - we really want to make this a one-stop-shop.
“At Renmark foot traffic has tripled since we bought it and we expect the same to happen with this one.”
Tony & Mark’s will open its Piccolo concept store later this year, including its fruit & veg, deli and bakery offering, across 600sqm of retail space.
A small number of vacancies remain in the centre, ranging in size from 40sqm to 100sqm.
FAST FACTS
NEWTON
Address: 299 Montacute Rd
Type: Retail shops for lease
Contact: Revelop - Daniel Dinte 0478 173 718