Sale opens door for CBD growth
The sale of the Stirling Centre to the owners of the adjacent Bunbury Centrepoint has opened the door to a major development in the CBD.
Options for upgrades include a major department store, food court, town square and the joining of both centres which are separated only by a small carpark and walkway.
The owners of Bunbury Centrepoint, Primewest, bought the Stirling Centre in an off-market deal for $18.75 million.
The deal was negotiated for the property syndicate by managing agents Colliers International.
Colliers International spokesman Mark Werrett said the sale was a strategic purchase for Primewest.
“That larger centre is currently the subject of a master planning exercise, with a view of expansion, ” he said.
“We don’t know if we will connect the two centres, but it is a great opportunity to do so.
“We are also looking to make provisions so we can one day offer a willing department store a suitable site.”
Bunbury Chamber of Commerce and Industries chief executive officer Ray Philp said the sale would be good for the CBD.
“It is exciting news that makes a lot of business sense considering any expansion plans for Bunbury Centrepoint, ” he said.
“They obviously have significant plans which would create a reasonable sort of centre there.
“It also demonstrates the business confidence in the CBD and the Greater Bunbury region.”
Mr Werrett said the company would look into upgrades which would accommodate the region’s growing population.
“One key issue is the provision of parking and as a part of our master plan we are looking at increasing this, ” he said.
“We will continue to look into additional retail outlets and a possible food court in the future.”
Bunbury Centrepoint was opened in 1989, was redeveloped in 1998 and now containing a Coles supermarket, a Target store and about 49 specialty shops.
The 5864sq m Stirling Centre contains 27 specialty retailers including Priceline, Medibank Private, Croissant Express, House, The Reject Shop and Witchery.
