First stage of Belconnen Markets makeover approved

Ian Bushnell 8 March 2019 14

A render of the Belconnen Markets Stage One redevelopment. Image: Supplied.

The ACT Government has approved the first stage of a planned $100 million revitalisation of the Belconnen Markets precinct, with a development application lodged for Stage Two.

Elanor Investors Group plans to replace the ageing Belconnen Markets with a spacious new 5500 square metre market hall with undercover parking for 146 cars.

Stage One, to be built on a three-hectare site opposite Bunnings Warehouse, is expected to be completed in late 2019 and comprise 3750 square metres of strip retail, ideally suited to retailers needing a trading space of between 200 and 1000 square metres.

In Stage Two, the market hall design will feature a high roof structure to promote natural light and ventilation, and is scheduled to open in late 2020.

The redevelopment represents a 30 per cent increase in the market hall’s footprint, allowing for the introduction of new specialty food retailers and food catering outlets to complement Belconnen Markets’ existing fresh food offering.

Elanor’s Co-Head of Real Estate, Michael Baliva said the markets would be transformed into a day-night destination for Canberra residents and visitors, providing a unique experience not currently available elsewhere in the ACT or NSW.

“The masterplan has been influenced by recent trends in Europe and North America where markets are an important anchor of community economic activity. In other parts of the world, revitalised markets are increasingly activating mixed-use precincts,” he said.

Elanor CEO Glen Willis said there has already been strong interest from “mini-majors”, specialty retailers and service providers in Stage One, which would complement the current retail precinct.

Agent Alex Smith, from Laing and Simmons Commercial, said three national brand tenants had agreed to terms and would take up half the site.

He said the Stage One tenants would complement the fresh food market and not compete with those traders.

Although Mr Smith was unable to reveal their names, he said the major tenants would be akin to the bulky goods and large format retailers found in the industrial areas of Canberra.

“What we’re doing is offering a more curated master-planned retail precinct,” he said.

“It’s something that Canberra hasn’t seen a lot of. It hasn’t really been provided before. When you have them all together it strengthens the convenience and value to the shopper. You’ve got a pretty strong little precinct if you throw Bunnings into the mix as well.”

With 28,000 cars a day going through the intersection between Stage One and Bunnings, it was quite a high profile site, Mr Smith said.

He said the current Markets building had evolved over in a piecemeal fashion and was well overdue for a facelift.

“It will be a completely new hall, with far better parking and more convenient access,” Mr Smith said.

The Efkarpidis family sold the Markets in 2017, after owning and operating the retail precinct since the early 1990s.

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14 Responses to First stage of Belconnen Markets makeover approved
Michael Suli Michael Suli 2:06 pm 08 Mar 19

Bec, oh.... these are the ones Dad was telling us about :D

    Bec Thamer Bec Thamer 2:43 pm 08 Mar 19

    I think he’ll be very impressed on his next visit

Robert Honeybone Snr Robert Honeybone Snr 2:49 pm 07 Mar 19

This is an excuse for pay parking

    Yuri Shukost Yuri Shukost 3:02 pm 08 Mar 19

    Robert Honeybone Snr They already have pay parking there.

    Robert Honeybone Snr Robert Honeybone Snr 4:03 pm 08 Mar 19

    Yuri Shukost they should be ashamed then

Roo Poeta Roo Poeta 12:34 pm 07 Mar 19

These market already sell overpriced items. I wonder if the prices will move up more with this makeover. Rather than focussing on superficial things, focus on bringing the prices of veggies down.

Victoria Street Victoria Street 7:20 am 07 Mar 19

Hope there’s inclusion of kids facilities - the playground there now is awesome

wildturkeycanoe wildturkeycanoe 5:20 am 07 Mar 19

I wonder how they will attract stores, considering a lot have closed already, probably due to high rent? Also, traffic management needs to be considered if the other block is to be developed. A right turn into Ibbot Lane from Bunnings lights is a must, or it’ll become more chaotic.

Belinda Conroy Belinda Conroy 3:28 am 07 Mar 19

My girls love the mushroom playground that is at the current markets. I hope the new one includes something similar.

Janet Latter Janet Latter 10:31 pm 06 Mar 19

As a visitor from Perth, I hope Ziggy’s stays. Love that shop, still have one of their shopping bags xx

Barton West Barton West 10:10 pm 06 Mar 19

Election year!!

Brad Fraser Brad Fraser 9:43 pm 06 Mar 19

Curious to see which tenants open in stage one, and also to see how the existing tenants will be accommodated during the stage 2 development

Michele Gorman Michele Gorman 9:31 pm 06 Mar 19

That will be the death of every existing business there now.

Stephen Browne Stephen Browne 7:10 pm 06 Mar 19

Place to be Dennis Torrealba

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