ISPT’s $18.5 billion portfolio invests in and develops commercial, retail, logistics, warehousing and residential property in Australia.
Over the last five years, Location IQ have worked with ISPT to assess the potential for the expansion of Karingal Hub; a sub-regional shopping centre in Frankston on the Mornington Peninsula of Melbourne.
Location IQ initially provided an ultimate potential assessment for the centre, identifying areas of capacity within the market and recommending the amount and type of additional floorspace which could be supported.
Subsequently, a number of developments schemes were assessed in order to tailor the future offer at Karingal Hub to meet the needs of the local market and maximise income.
The expansion of Karingal Hub commenced in January 2020.
Upon completion, the expanded Karingal Hub will encompass approximately 40,000 sq.m of retail floorspace, including a new Town Square, linking the existing and expanded retail centre with the existing Village Cinema, creating a new entertainment and leisure precinct. New Coles and Aldi supermarkets will be also added and the existing Woolworths will be refurbished.