BANKSTOWN Central looks set for a multi-million dollar transformation into one of western Sydney's best 'destination shopping centres'.
Shopping centre operator Vicinity Centres will sell off a number of medium-sized and neighbourhood shopping centres to fund the development of large prestige projects.
Vicinity Centres will sink the proceeds of the sale into what it calls "transformative developments" in Melbourne, Perth and Sydney, including Bankstown Central and Chatswood Chase. Under the proposal, Bankstown is set to be redeveloped into a market-leading shopping, dining and entertainment experience.
Vicinity Centres' executive general manager development, Carolyn Viney, said Bankstown was a key part of the NSW Government's planning strategy for Greater Sydney and the shopping centre was an important asset in its development pipeline.
"Surrounded by a flourishing and growing community, we see the opportunity to create something truly special which appropriately reflects the significant government investment being made in the adjacent Sydney Metro station and the nearby new Bankstown CBD campus for the Western Sydney University," she said.
"While it is only early in our development planning for Bankstown Central, we will be engaging with the local community, government and other stakeholders with a view to creating a range of best of class, destination outcomes."