Oreana has commenced construction of its fifth neighbourhood shopping centre, Beveridge Village, a $23 million property with a 1400sqm net leasable area and 14 tenancies.
Located in Melbourne’s northern corridor, the mall is already close to fully leased, with confirmed tenants including Aspire Early Education & Kindergarten, Ray White, Thirsty Camel, Beveridge Groceries, and Subway.
Upon its expected completion mid next year, the centre will serve a catchment of 64,000 residents, with the population forecast to surge by 708 per cent by 2041.
Oreana MD Tony Sass says Beveridge Village will be a much-needed community asset, given that residents currently have to travel to Kalkallo for shopping.
“Neighbourhood centres continue to perform due to their convenience-led model and strong community focus,” Sass said. “It’s this ability to cater to everyday needs that sees neighbourhood centres thrive, with less volatility than discretionary retail.
“Beveridge Village will bring essential shops and services that make everyday life easier for residents already here, and for the thousands more set to call this region home,” he added.
Aside from this project, Oreana had already begun construction on four other neighbourhood shopping centres: Botanical Village in Mickleham, Warralily Quarter in Armstrong Creek, Linfield Place in Wollert, and a property in Craigieburn.
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