SUPERMARKET chain Aldi has bought the run-down Caringbah Marketplace property, capitalising on a push by Sutherland Shire Council to revitalise the struggling Caringbah town centre.
An Aldi Australia spokeswoman said the company would develop a new store and would submit a development application later this year.
She was unable to say whether the existing building, which was built more than 30 years ago and housed a supermarket and 23 speciality shops before it closed two years ago, would be revamped or replaced by a much larger development.
Under the draft LEP, a seven- to eight-storey building with units above a retail area would be permitted.
The Aldi spokeswoman said its new store would have "a positive impact on the community, offering high-quality products at permanently low prices, as well as rewarding career opportunities for local residents".
"Aldi stores help reinvigorate commercial precincts by increasing customer flow, which also benefits complementary businesses in the area," she said.
A council spokeswoman said a "pre-application discussion" had taken place.
Steve Lacey, asset manager for A & A Lederer, which sold the shopping centre after it closed in 2012, said his company had "looked at opportunities for redevelopment".
"An amalgamation with the council property [the car park at the rear] would be the ideal redevelopment but that didn't progress after many years of discussions," he said. "We concentrate more on retail, rather than residential, and that's probably where the property is headed."
The council hopes Caringbah centre will be revitalised by the draft local environmental plan, which is close to being finalised. Once the shire's premier shopping strip, it began a slow decline after Miranda Fair opened in 1964.
Aldi's arrival, together with the opening of several new businesses in the past few months, points to growing confidence.
"Caringbah centre lacks the focus and vitality expected in a centre of its size," the draft LEP stated.
"This is primarily due to the rise of Westfield Miranda as a retail centre, the emergence of Taren Point as a bulky goods hub and of Cronulla as an entertainment precinct.
"As a result, there has been no significant redevelopment in the core commercial area for 10 years.
"A number of key businesses have recently vacated the centre."
Under the draft LEP, opportunities will be provided for new businesses, supported by a large increase in population. Building heights in the commercial core will range from four to nine storeys.
"Development in the centre is expected to be mixed use, with residential flats at upper levels," it said.
"Allowing higher development creates opportunities for dwellings to be located above traffic level while gaining district views of Woolooware Bay and the city beyond.
"If more people are attracted to live in the centre, local shops, cafes, restaurants and services will be revitalised through increased trade. New buildings will also create quality commercial spaces for new businesses."
HIGH-RISE TO COME
Three major development sites alone have the potential to provide hundreds of new homes, despite being downsized in draft LEP3.
The former Caringbah High School site (pictured), council-owned Hay Avenue surface car park and the Coles site have been rezoned to allow buildings up to nine storeys in height.
What do you think the Caringbah Centre needs?
