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Property group Stockland (ASX:SGP) has flagged an enormous upgrade to it’s Hervey Bay shopping mall precinct in Queensland.
The $115 million re-development will double the size of the site, to over 36,000 square metres.
A 500 seat food court will be built, and 70 stores will be added, taking the number of retail tenants to 110.
Stockland expects a return on investment of 14% once the upgrade is complete, in late 2014.
In it’s most recent earnings, Stockland posted a $147 million net loss to December 31.
News: Stockland shops for growth
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Mkt cap ! $12.74B | |||
| Open | High | Low | Value | Volume |
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