Australia's UniSuper has requested housing property development as part of a massive $ 800 million (€ 502 million) re-installation of its largest retail advantage, Karringup Shopping Center, in Perth.
The asset manager of AMP Capital's industry superannuation has selected Western Australian multi-resident developer Blackburne to develop 94 high end apartments at & # 39; the east of the center.
AMP Capital's WA Divisional Development Manager, Shopping Centers, Scott Nugent, said the use of mixed use was a trend that was embraced both locally and nationally.
"By combining shopping, dining, entertainment and living, we make a lively hub for homes where people can meet, relax, shop, dine or enjoy unique experiences near their own home," Nugent said.
The complex consists of a range of 1, 2 and 3-bed apartments and penthouses.
"We are looking forward to working with them to deliver high quality apartments that will complement the new Curryup," Nugent said.
Blackburne plans to launch the East Residential Apartments later this year, with construction set up to begin towards the end of 2020 and targeting practical completion for Mids 2022.
UniSuper did not respond to requests for comment on her first trip to residential.
UniSuper is the owner of three shopping centers, including Karrinyup in Perth under its direct ownership. It has two other smaller centers in Sydney and Melbourne.