Retail property bonanza predicted
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As many as 39 major new retail developments and shopping centre extensions could be on the cards in WA by 2012, a new study has found.
The Property Council of Australia-Lease Retail annual retail development survey estimates the equivalent of three-and-a-half Westfield Carousels will be added to the state's retailing scene as a population boom, national retailing groups expanding and the resources boom combine.
About 263,000 square metres of space is likely to be developed, with 60 per cent of that in the form of new shopping centres.
More than 60 per cent of the extra space is planned for sub-regional and neighbourhood centres, with 41 per cent located in Perth's northern suburbs, 32 per cent south of the river, 16 per cent in the CBD and 11 per cent in the east.
