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Macquarie Leisure Trust Group Lodges Development Application for 'Citywalk at Coomera' August 2 2005


A fully integrated, unique shopping, entertainment and leisure destination.

The Chairman of Macquarie Leisure Trust Group, Mr Neil Balnaves, today announced that the Group has lodged a development application with the Gold Coast City Council to creat a major regional shopping centre on lands to the north of the Dreamworld Theme Park in the Coomera Town Centre - to be called 'Citywalk at Coomera'.

Planned for development by 2008, 'Citywalk at Coomera' will be a major regional shopping centre destination that is designed to service the expanding primary catchment area of Coomera, as well as the rapidly developing residential corridor from Helensvale to Beenleigh. The trade area of Coomera has been recognised as the Gold Coast's fastest growing residential suburb with population growth of 13.8 per cent per annum over the last five years with substantial growth forcast for the medium to long term. This buoyant local market will be supported by the broader Gold Coast residential and tourism market.

Macquarie Leisure Trust Grup CEO Mr Greg Shaw also said Macquarie Bank's Property Group is expected to participate in the development of Australia's first integrated retail and entertainment precinct at Coomera.

Dreamworld Theme Park is MLE's major asset and one of AUstralia's most successful tourism enterprises. Dreamworld is a Gold Coast icon with a track record of 24 years of successful trading and a major local employer with in excess of 1,200 staff during peak times. Today, Dreamworld achieves over 1.3 million patrons annually and expends over $A7 million per annum in marketing to local residents, domestic and international tourists.

"The patronage and profile of Dreamworld provides a unique anchor tenant platform for a shopping centre precinct. This development will represent the first entertainment destincation in Australia that delivers a unique blend of theme park fun and world class shopping adventure fully integrated into a themed retail environment," said Mr Shaw.

Following the establishment of the initial stage of 'Citywalk at Coomera', it is expected the Coomera Town Centre will be further developed and eventually incorporate a full range of community, commercial, residential and public open space precincts. The location of the Coomera Town Centre provides strong transport connections with direct access to Brisbane and the Gold Coast by either the M1 motorway or the existing rail system from the adjacent Coomera Railway station.

The proposed initial stage of the 'Citywalk at Coomera' development will incorporate two full line National brand Supermarkets, a major brand discount department store together with a large range of specialty retail outlets. In time it will incorporate a themed street entertainment and leisure precinct, including a cinema, with complimentary restaurants and fast food outlets. 'Citywalk at Coomera' will provide a vibrant linkage between Dreamworld and the Coomera railway station.

The development of 'Citywalk at Coomera' is expected to be overseen by the experienced team from Macquarie Property providing specialised retail development and project management expertise while also using local consultants to advise on retail, traffic and landscape design to ensure the best possible outcome for the local community, residents and visitors to the Coomera destination.