Stockland loses $400,000 discount after Kin Kora delay

NOT even the offer of a $400,000 discount was enough to push Stockland into starting the long awaited expansion of the Gladstone Kin Kora shopping centre.

For months Stockland has been telling the Gladstone community it still intends to go ahead with the development and has been "finalising design plans" but "has nothing definitive to announce".

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Today, the deadline for the council's discount infrastructure charges deal, those comments haven't changed.

Gladstone Regional Council CEO Stuart Randle confirmed Stockland would not be taking advantage of the deal, the terms of which explicitly stated there would be no more extensions.

Regardless, Stockland has confirmed it still plans to go ahead with the $150 million expansion --- although it hasn't offered a start date for construction.

As a publicly listed company Stockland must inform its shareholders of any announcements before releasing details to the community.

LISTEN Reporter Helen Spelitis explains Stockland's continual delays 

However the lack of progress on the expansion, tipped to create more than 600 construction jobs, has left the Gladstone community feeling frustrated - particularly construction workers hoping to stay in Gladstone.

Today's response from Stockland doesn't offer those workers much comfort.

KEY STORIES

December 18, 2012

Stockland submits application for new $150m expansion

April 7, 2014

Stockland announces start date for $160m re-development

November 6, 2014

Long wait for shoppers with Stockland plan delayed

December 2, 2015

Council offers discounts if Stockland starts by March

Stockland Group Executive John Schroder offered the same line the company has been using for the past 12 months; "We are continuing to progress plans to redevelop Stockland Gladstone, however we are unable to confirm a start date at this time," Mr Schroder said. 

Mr Schroder went on to say some of Stockland's "best projects" had taken longer to get started.   

"We have received strong interest in the project and excellent support from retailers, customers and council," Mr Schroder said.

"We know that the community and all stakeholders would like to see us commence this project as soon as possible and we would too. We'll continue to keep our customers, retailers and local and state government up-to-date as we continue to work towards the start of construction."

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We've listed some of our previous responses from Stockland on the planned redevelopment;

Stockland's trail of statements 

March 1, 2016

Stockland is finalising our design for our proposed redevelopment and expansion of Stockland Gladstone Shopping Centre, and we are continuing to work through our detailed planning process. We will keep the council, retailers and our valued customers updated on our progress.

September 28, 2015

We're continuing to refine and finalise our plans for our proposed redevelopment of Stockland Gladstone Shopping Centre and we will continue to keep the Council and local community informed about our redevelopment plans when we have news to share.

July 14, 2015

We are currently working through some design modifications for our $150 million redevelopment and expansion of Stockland Gladstone Shopping Centre. We're working closely with Gladstone City Council on these changes, and we will announce further news in the coming months.



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