Victoria Gardens set for expansion under new plans
Victoria Gardens is set to become bigger and better, with the owners preparing for a grand extension of the Richmond shopping centre.
Business
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Shopping centre giant Vicinity Centres is drawing up plans for a massive expansion of the Victoria Gardens Shopping Centre in Richmond.
Vicinity and property developer Salta Properties, the joint owners of Victoria Gardens, yesterday confirmed they have purchased two plots of land on Burnley and Doonside streets totalling 3,400 square metres.
Vicinity chief development officer Carolyn Viney said the two companies have now consolidated land holdings to the south of the centre creating a strategic 1.3-hectare development site.
“The acquisition of this land, which shoulders our Victoria Gardens asset, means we can now progress planning for both a retail expansion of the centre and an exciting mixed-use development opportunity,” Ms Viney said.
“With Richmond experiencing ongoing densification and urban regeneration, Victoria Gardens is well positioned for growth.”
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The new development will include residential accommodation and commercial space covering both office and retail.
“It also provides the opportunity to further shape Victoria Gardens’ retail offer to meet our customers’ ever-changing needs and tastes,” Ms Viney said.
Vicinity owns or partly owns more than 60 shopping centres, including the nation’s biggest, Chadstone.