- AMP Capital demonstrates commitment to retail developments
- Today marks completion of their latest $142 million development
- The company will manage nearly $1 billion of retail developments on behalf of UniSuper
In AMP Capital’s commitment to providing their clients with a variety of retail investment opportunities, the company is close to delivering $1 billion of retail development on behalf of UniSuper.
Today marks the completion of their latest $142 million development of Sydney’s Marrickville Metro, alongside Perth’s Karrinyup Shopping Centre – an $800 million development – due to open its first phase in July.
Overall, AMP Capital’s managed retail sites host more than 40 retailers. Sustainability was also a key achievement, with the repurposing of an underutilised industrial warehouse located across the road from the existing centre.
AMP Capital’s Head of Real Estate, Kylie O’Connor said the company was proud to have delivered Marrickville Metro in partnership with UniSuper, also one of their valued clients.
“To have delivered this development in line with the original vision, tenancy mix and public amenity elements despite the COVID-19 pandemic is nothing short of amazing and we are very proud of what the team has achieved.”
Kylie O’Connor, AMP Capital Head of Real Estate
The finalisation of the project represents a substantial milestone in UniSuper’s long-term strategic investment in Marrickville Metro and delivers a centre that aims to cater to the diversity of the local market.
“We are delighted with the result and congratulate the entire AMP Capital development team and their design and construction partners for delivering a destination that locals can be proud of, particularly amidst such a difficult environment for everyone,” said UniSuper’s Head of Property and Infrastructure, Kent Robbins.
“The inclusion of sustainable design principles, such as the rooftop solar panels, is another example of the significant steps we are taking towards becoming net zero carbon. We look forward to seeing the expanded Metro continue to meet the needs of the growing Inner West community for many years to come.”
Kent Robbins, UniSuper Head of Property and Infrastructure
Ms O’Connor said that retail has undergone structural changes over the years, and AMP Capital has been quick to adapt when managing retail developments to meet the demands of the local community.
“While 2020 was extremely challenging, we continue to have conviction in the sector, and are applying a fresh approach built on our tried and tested retail principles for these two developments – something we’ve done successfully many times regardless of market conditions over the last 50 plus years.”