QIC will invest more than $600 million in the next stage of redevelopment at Castle Towers, which will bring 70 new stores and Sydney’s largest wellness centre.
The project will transform approximately 30,000sqm across four levels, introducing 70 new stores alongside a 6000sqm rooftop health and wellness destination.
The investment aims to materially broaden the centre’s offer across fresh food, fashion, sport, premium and Australian designer labels, dining and lifestyle. It will also bring an enhanced entertainment offering including a new Gold Class experience by Event Cinemas.
The new stores will complement the centre’s forthcoming lifestyle precinct and established premium retail offer, expanding the breadth of the asset while creating a more complete mix of retail, dining, leisure and recreation.
QIC’s recent investment in Castle Towers’ new lifestyle precinct across Levels 2 and 3 provides an early indication of the centre’s next phase of growth. By repurposing existing tenancy space into a two-level fashion and lifestyle destination, the precinct will feature new brands including JD Sports, Lululemon, LSKD and City Beach, alongside refreshed concepts from Nike, Universal Store and Kooka, expected to
open late this year.
Deborah Coakley, MD of real estate at QIC, said the strength of retailer demand for space at Castle Towers reinforced QIC’s conviction in Sydney’s north-west, particularly the Hills District.
“This is already one of the portfolio’s most important retail assets, supported by a strong catchment and direct Metro connectivity. Delivering this next stage allows us to build on those fundamentals by broadening the category mix, introducing new uses and creating a more productive and relevant asset over the long term.
“We are investing with a clear view of how the centre needs to evolve as part of the broader masterplan. The objective is to strengthen Castle Towers’ competitive position, increase its relevance to customers and retailers and continue creating long-term value for our investors,” Coakley said.
Construction is set to commence next month and expected to be completed in late 2029, with Castle Towers remaining operational as works progress.
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