Elevating the commercial performance of a retail institution
We worked with the Markotis family to overhaul Bunbury City Plaza and deliver outstanding results.
The Markotis family, which owns Bunbury City Plaza, had set out a vision for the asset that would make it buzz with community activity and improve its commercial performance. The new shopping centre would be made over with an expanded Woolworths anchor store, upgraded shops, additional parking, landscaping and many other aesthetic enhancements.
So what did we do?
Our Project & Development Services team was appointed to oversee the overall delivery of the project. This included negotiating contractor rates and setting up agreements; supporting the anchor tenant through the change; monitoring the time, quality and performance of the redevelopment project and communicating progress to stakeholders; assisting the financier on the project's funding arrangements; and implementing quality control measures to ensure the shopping centre’s ongoing viability.
What was the outcome?
The A$19 million redevelopment project was completed on time, under budget and without incident, taking the shopping centre from 4,200 square metres of lettable space to 8,000 square metres and achieving all the enhancements the owner had set out to achieve.
All the while, tenants continued to trade throughout the 18-month construction period with minimum disruption.
What did the client say?
“JLL supported us achieving our vision for Bunbury City Plaza, and thanks to JLL our commercial position has improved substantially. The company’s broad capabilities, consultative approach and close internal team connections bring synergies and contribute to our bottom line and long-term asset value.” Jim Markotis, Owner, Bunbury City Plaza.