71 per cent preleased as major tenants sign on
National diversified developer Goldfields has unveiled a new retail property brand Cornerstone fuelling the group’s expansion with a transformational $100m development in Kyneton.
Goldfields Managing Director, Marco Gattino, said Cornerstone: Kyneton represents a bold new direction for Goldfields and is driven by confidence in the long-term potential of Australia’s retail sector.
“Cornerstone: Kyneton is the first project of what will become Goldfields’ large format retail portfolio,” said Mr Gattino. “We are currently considering new greenfield sites for our Cornerstone brand that represent excellent opportunities for local retailers seeking high-end amenity alongside major brand retailers with strong destination shopping exposure.
“Early interest in Cornerstone: Kyneton has been extremely strong with over 71 per cent of the project preleased (12,000sqm of Stage 1’s 17,500sqm). “Bunnings, McDonalds, Supercheap Auto, Petstock, KFC, 7 Eleven, and Shine Station Carwash will each occupy major tenancies in the new precinct.”
The construction and ongoing operation of Cornerstone: Kyneton is expected to create and support hundreds of local jobs, while bringing new retail operators and improved amenity to the rapidly growing Macedon Ranges region. *
Located 1km from the Kyneton town centre, the 62ha multi-stage Cornerstone: Kyneton precinct will feature a blend of large-format retailers, commercial warehouses, entertainment venues, a fuel station, and food and beverage operators – fostering a vibrant new regional business community.
Goldfields General Manager of Retail, Hugh Doyle, said Cornerstone: Kyneton is ideally situated within the growing Macedon Ranges and its large primary catchment area. Cornerstone: Kyneton will benefit from the region’s strong demand for Large Format Retail by offering retailers an excellent opportunity to enter a new market.
“Approximately 10,000 vehicles will pass the Cornerstone: Kyneton intersection daily placing the precinct at the heart of the region’s booming economic growth corridor,” said Mr Doyle.
“Goldfields’ investment in Kyneton will provide a solid boost to the local economy, the community’s rates base, and the region’s jobs market. Stage 1 alone will create over 200 permanent and casual jobs once the new operators begin trading. Additionally, it is estimated to generate 75 local construction jobs.”
Goldfields’ civil tender process has recently closed and they are in the process of appointing a civil construction group to deliver Stage 1 of the civil package. Construction of Stage 1 is scheduled to commence in Q1 of 2026.
Completion / handover including the precinct’s opening for large format retail is scheduled to occur in early 2027.
There are currently six units remaining in Cornerstone: Kyneton Stage 1, ranging in size from 352sqm to 1,444sqm. All leasing enquiries should be directed to David Mark of Marked Property via 0474 307 595 or by emailing david@markedproperty.com.au.
* The Macedon Ranges population is forecast to grow by 8,000 people between 2024-36 following an above average growth period between 2016-24.
Source: Deep End Services; Australian Bureau of Statistics
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