By Melissa Grant
PLANS for a $40 million retail hub in Pakenham’s retail heartland have fallen over.
Consolidated Properties Group has abandoned plans for the precinct that was to feature a full-scale K-Mart store and several specialty shops.
It would have also provided 799 car parking spaces and jobs for more than 220 people.
Cardinia Shire mayor Bill Ronald said economic factors in Australia and overseas had prompted the group to withdraw its plan to develop the three-hectare site behind Treloar Lane.
Councillors formally noted the developer’s withdrawal at a special council meeting on Monday night, only five months after the council resolved to sell the parcel of land.
Council chief executive Garry McQuillan said the group’s decision was regrettable, but assured residents that the council was committed to improving community and retail facilities in Pakenham.
“The decision by the Consolidated Properties Group is unfortunate, however, residents can be assured this decision has not resulted in any settlement cost to Council,” Mr McQuillan said.
“Council will continue to explore options for the best-possible development of the site as we work with the business sector and the wider community to grow the local economy.”
Cr Ronald said residents could still look forward to an expanded library service, as the new Pakenham Library would continue.
Latest
Mighty Mitch makes his mark
Forget the nervous nineties…it was the initial first step towards his remarkable double century that provided Kooweerup’s Mitch Davey with his most anxious moment...
