Newmark Capital has announced approved council plans to develop a mixed-used precinct at Brandon Park Shopping Centre including commercial areas and serviced apartments.
Under the plans, the Brandon Park Shopping Centre will be expanded to include retail and medical offerings on the ground floor, two levels of office space, and 103 serviced apartments.
“The introduction of new uses at Brandon Park will drive visitation to the Wheelers Hill / Mulgrave area, and specifically the Brandon Park Shopping Centre,” said Newmark Capital’s Head of Property, Angus Machutchison.
“The expanded offerings will bring more activity to the site including office and visitor populations, while the served apartments will serve the broader community by providing well located, high quality accommodation options.”
Newmark Capital, which acquired Brandon Park in 2018, has been working closely with the City of Monash, shopping centre tenants, local businesses and nearby residents to ensure the development will bring value to the Wheelers Hill area.
“The new mixed-use precinct will generate employment opportunities, improve visitor experience and bring vibrancy to the surrounding community,” said Mr Machutchison.
Newmark Capital plans to commence construction in the second half of 2023.
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About Newmark
Established in 2011, Newmark Capital is an Australian property investment manager led by respected real estate executives, Chris Langford and Simon T. Morris. Investing exclusively in premium commercial properties on behalf of investors, the Newmark team manages assets in excess of $1.1 billion across single and multi-asset property trusts. With a proven track record of delivering income and strong, long-term returns, Newmark attracts discerning investors seeking exposure to Australia’s pre-eminent, landmark commercial real estate.
