Stockland will be investing $330 million in the redevelopment of its Shellharbour property that is expected to commence by the end of the year.

The new Stockland Shellharbour will include a Myer department store, two discount department stores, two supermarkets, 220 speciality stores, a community plaza complete with an alfresco dining area and over 3,000 car parking spaces.

The redevelopment will be almost double the size of the current centre to a gross lettable area of 75,000 square metres.

According to John Schroder, Stockland Commercial Property CEO, the centre would be well-placed to capture the strong growth predicted in the Southern Illawarra region and become Illawarra’s premier shopping destination.

As part of the company’s sustainability commitments that was announced by Matthew Quinn, Stockland managing director in March 2009, Stockland Shellharbour is expected to set a benchmark for sustainability.

The centre, which will aim to achieve the first Green Star shopping centre Design and As Built rating in the Illawarra, will include more than 7,000 square metres of solar panels on the roof supplemented by a tri-generation energy system. This combination of solar and tri-generation will provide energy for 70 per cent of the new common area of the development.

“Stockland Shellharbour will not only lead the way in terms of fashion, fresh food and community convenience, it will also set a new benchmark for sustainable shopping centre development with the inclusion of the largest retail solar energy application in the country,” Brett Leonard, Stockland Shellharbour centre manager, said.

The Shellharbour redevelopment, which forms part of the Stockland‟s $2.5 billion national retail development pipeline, will be undertaken in stages over approximately three years.