Melbourne’s Chadstone Shopping Centre set for $580m redevelopment

Chadstone Shopping Centre will undergo a $580 million expansion in a bid to remain the biggest shopping centre in the southern hemisphere.

The expansion includes 40 new retailers, a 10-storey office building as well as a new cinema complex and even a hotel, the Herald Sun reports.

Victorian premier Denis Napthine said there would be 800 extra car parks, new transport links and a new bus interchange.

As well as retail and office space, there will be a new 1300- seat food court.

“Once opened, this project will deliver more than 3400 permanent jobs and generate more than $110 million in investment by retailers and tenants,” Dr Napthine said.

In total, about 34,000 sqm of retail and office space will be added to the shopping centre.

Chadstone’s joint owners, Gandel Group and CFS Retail Property Trust Group (CFX), are forking out the $580 million.

Dr Napthine and Treasurer Michael O’Brien will join Chadstone bosses John Gandel and CFX chief executive Angus McNaughton for the turning of the sod today.

“Today marks the continued evolution of Chadstone Shopping Centre; one of the most highly visited retail destinations in the world and the largest shopping centre in the southern hemisphere,” Mr McNaughton said.