— The GPT Group (GPT) and the GPT Wholesale Shopping Centre Fund (GWSCF) have delivered the $200 million expansion of Rouse Hill Town Centre, adding 10,500sqm of fully leased retail space to one of the highest-performing shopping centres in Sydney’s high-growth north-west corridor.
Jointly owned by GPT and the GPT Wholesale Shopping Centre Fund, the expansion introduces more than 50 new retailers and four mini-majors across fashion, dining, leisure and lifestyle. The project underscores sustained retailer demand for dominant shopping centres in metropolitan growth markets and marks the co-owners’ largest retail development completion in a decade.
Located within one of Australia’s most compelling retail sub-markets, Rouse Hill Town Centre attracts more than 12.6 million visitors annually and services a trade area of approximately 640,000 residents, forecast to grow to more than 775,000 by 2036. The catchment continues to benefit from significant infrastructure investment, including the Sydney Metro and the new $910 million Rouse Hill Hospital.
Chris Barnett, Head of Retail at The GPT Group, said the fully leased opening validates the co-owners’ long-term conviction in the asset and the strength of the Hills District catchment.
“Opening a development of this scale with full retailer commitment is a significant endorsement of the centre’s quality, the growth fundamentals underpinning Sydney’s north-west and the execution capability of the GPT development platform.
“Retailers continue to prioritise destinations that offer scale, strong trading performance and proven catchment depth — and Rouse Hill Town Centre continues to outperform on all three. The existing centre has remained fully leased for the last three years.
“This project reflects GPT’s continued focus on investing in and evolving high-quality retail assets to strengthen portfolio performance and position our centres for long-term growth,” said Barnett.
Rouse Hill Town Centre’s completion comes amid strong performance across GPT’s $18.2 billion retail platform and follows the commencement of construction on a $170 million expansion at Melbourne Central, Australia’s most productive retail centre.
Together, the two projects represent more than $370 million of retail development investment across GPT’s platform, reflecting the Group’s continued conviction in high-quality retail assets and value creation through disciplined development.
David Sleet, Fund Manager of the GPT Wholesale Shopping Centre Fund, said the fully leased completion is a direct validation of the investment thesis that has driven GWSCF’s consistent outperformance.
“GWSCF’s portfolio is deliberately concentrated in dominant shopping centres located within metropolitan corridors where population growth, infrastructure investment and resilient consumer spending support durable long-term total returns.
“That disciplined approach has underpinned the Fund’s continued outperformance of the MSCI/Mercer Australia Core Wholesale Retail Fund Index across all measured time periods, with GWSCF returning 11.3% to 30 June 2026 and attracting new capital of over $600 million through the Fund’s recently oversubscribed equity raise
“Completing the Rouse Hill Town Centre expansion fully leased further strengthens the quality and income profile of a core Fund asset and demonstrates the value that disciplined capital investment and active asset management can create for investors,” concluded Sleet.
The expansion introduces retailers including Elite Eleven, Adidas, Peter Alexander and Glassons, alongside existing brands including MECCA, Cotton On and Rebel, which are expanding into larger flagship formats following strong trading performance at the Centre.
Construction commenced in April 2025, with the Centre remaining open and fully operational throughout the 18-month program, which was delivered on schedule by ADCO Constructions.
-ENDS-
For further media enquiries, please contact:
Kate Hayhoe
External Communications Manager
M + 61 414 892 579
kate.hayhoe@gpt.com.au
Release ID: 89207825
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