Vicinity Centres dumps $650m redevelopment plans of Roselands shopping centre

Roselands shopping centre will not undergo a major redevelopment after Vicinity Centres announced the plan has been “indefinitely postponed”.

Roselands shopping centre will no longer undergo a $650m redevelopment after Vicnity Centres was unable to strike a deal with Myer.

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Roselands shopping centre will not undergo a major redevelopment after Vicinity Centres announced the plan has been “indefinitely postponed”.

The company announced the $650 million project had been axed after it was unable to strike a deal with major tenant Myer.

“We are disappointed with the outcome of negotiations with the major tenant, which has conse­quently halted the progress of the substantial expansion and redevelopment of Roselands,” Vicinity Cen­tres chief executive Angus McNaughton said.

Roselands shopping centre will still be refurbished.

The centre will still be refurbished by Vicinity and co-owners Abu Dhabi Investment Council.

The redevelopment was to have included a new fashion precinct, as well as international and national brands, a Kmart, a Target and a new cinema.

It would have increased the centre’s area by 34,500sq m.

South West Bankstown Chamber of Commerce chief executive Wally Mehanna agreed that the decision was disappointing for the region.

“Any internal agreements is between the two parties, (but) from us, our primary focus is to see progress and to see growth,” he said.

“It’s disappointing that they couldn’t reach an agreement.”

Roselands shopping centre.

“Our area here is rich and has a lot of potential, a lot of wealth and having big shopping centres, they do still represent the backbone and the spine in our central economic climate.

“The centre will still remain a viable icon in our community.”

Vicinity Centres has remained tight-lipped about the refurbishments, but said the facelift would “enhance and bring a point of difference to the centre and will attract new retailers”.

“We will be working through conceptual plans in early 2017,” a spokesman said.

While Myer said it was “business as usual” for now, when asked, the company would not comment on whether it would remain at Roselands.

Roselands shopping centre has hosted Frank Sinatra and actor Roger Moore.

Opened in 1965, Roselands was once described as the largest shopping centre in the southern hemisphere.

The centre has hosted big names such as singer Frank Sinatra and actor Roger Moore, and had Australia’s first food court.

The centre marked its 50th anniversary in 2015.