Federation Centres

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Federation Centres has abruptly axed its chief executive Steven Sewell, replacing him with Angus McNaughton, the former chief at Novion Property Group.
The shock announcement sent Federation's ASX share price into a 4% dip yesterday.
Sewell headed the merged $22 billion property company after Angus McNaughton bowed out of contention for the top job once the two companies merged.
Federation Centres had only just announced Richard Jamieson in the role of chief financial officer and executive general manager investments replacing Tom Honan.
Richard Jamieson was formerly chief financial officer at Novion Property Group.
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Angus McNaughton appointed to lead Federation Centres

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Subsequent to an early 2015 announcement that The Glen would be subject to a considerable expansion, further plans have been submitted for the sprawling Glen Waverley retail hub. Addressing Monash City Council's request for further information on the redevelopment, owner Federation Centres in conjunction with NH Architecture and Contour Consultants have provided updated documents which are now available for <a href="http://www.monash.vic.gov.au/About-Us/News/Proposed-redevelopment-of-The-Glen">viewing online</a>.

Key to the centre's expansion is the addition of 515 apartments over the southern portion of the site, introducing apartment living to the already existing commercial and retail uses.

<blockquote>
The repositioning of the retail mix and a bold proposal for over 500 apartments will ensure that The Glen will attract the savvy shopper and will contribute positively to the emergence of Glen Waverley as a vital activity centre. Indeed, this proposal for The Glen fulfils the aspirations of the Council’s own Structure Plan by anticipating higher densities and providing a seamless connection back into the evolving urban fabric.
<cite>NH Architecture, town planning submission</cite>
</blockquote>

<h2>The Glen redevelopment in brief</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image152.jpg" rel="gallery-all" title="Artist's impression of Signature Tower. Image courtesy NH Architecture"><img alt="" class="image-article-full-width-580px" height="382" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image152.jpg?itok=GJK_dlN2" title="Artist's impression of Signature Tower. Image courtesy NH Architecture" width="580"></a>

<figcaption>Artist's impression of Signature Tower. Image courtesy NH Architecture</figcaption></figure><ul>
<li>Updated planning submission: March 2015</li>
	<li>Land address: 227-235 Springvale Road, Glen Waverley</li>
	<li>515 apartments over three buildings with total residential GFA of 40,573sqm</li>
	<li>​275*1 bedroom apartments + 240*2 bedroom apartments</li>
	<li>Retail expansion of 14,527sqm to 60,940sqm overall</li>
	<li>​Office space unchanged while an additional 2,552sqm supermarket space is included</li>
	<li>3,810 car parking spaces in total</li>
</ul>
<h2>Urban, Axial and Signature</h2>

The Glen's retail expansion will be largely confined to the northern area of the site, allowing for the addition of three residential buildings with frontages to Kingsway, O'Sullivan Road and Springvale Road.

'Signature Tower' is the assigned name accompanying the tallest tower which will reach all of 86.17 metres to its highest point. Metal bands will discern the exterior, while internally the tower is expected to hold a mix of 114 single bedroom and 95 dual bedroom dwellings. The 'Axial' and 'Urban' buildings will between them account for the remainder of apartments, while all three will sit atop a retail podium with activation to all frontages.

A new public square (seen below) will act as an entry point to the 'Axial' and 'Urban' buildings while also providing the surrounding low-rise retail areas with an appropriately scaled entry point to the redeveloped site. Designed to include outdoor dining and recreational areas, the square will be highlighted by a timber clad, two-storey structure acting as a focal point.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image154_0.jpg" rel="gallery-all" title="The Glen's new exterior. Image courtesy NH Architecture"><img alt="" class="image-article-full-width-580px" height="419" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image154_0.jpg?itok=kYObnxCp" title="The Glen's new exterior. Image courtesy NH Architecture" width="580"></a>

<figcaption>The Glen's new exterior. Image courtesy NH Architecture</figcaption></figure><h2>The Glen set to flow</h2>

Hand in hand with the addition of new public spaces will be the rebirth of existing frontages, particularly facing Springvale Road. A dark linear ribbon motif will be applied in contrast to a white metal skin over the Springvale Road frontage, which will also wrap around the podium of 'Signature Tower', thus providing continuity.

As mentioned 'Signature Tower' is subject to exterior metal finishes, while 'Axial' is dominated by timber and embossed precast panels, with greenery atop the 178-apartment building. 'Urban' as the smallest building will feature an earthier exterior of pattern brickwork and suspended greenery over its facade.

In this way the three residential buildings combine to provide a new dynamic to the Glen Waverley Activity Centre while also maintaining individual character according to NH Architecture's planning submission.

<h2>Unlocking added value</h2>

Federation Centres, not alone in seeking to bolster returns from an existing asset with a number of other large-scale retail hubs around Melbourne, are also pursuing mixed-use programs. Gandel/CFS Retail Property Trust are midway through construction of an expanded Chadstone Shopping Centre which will see the delivery of a near 16,000sqm <a href="https://www.urban.com.au/buildings/chadstone-corporate-tower-2-middle-road-chadstone">commercial tower</a> while QIC's $665 million Eastland Shopping Centre expansion will feature <a href="https://www.urban.com.au/news/ringwood-is-going-places">Realm</a>, a new library, learning and cultural centre.

Elsewhere GPT Group are pursuing <a href="http://www.heraldsun.com.au/leader/west/plans-to-build-2500-apartments-at-highpoint-shopping-centre-in-maribyrnong/story-fngnvmj7-1227301865602">further future expansions of Highpoint</a> which may well include as many as 2,500 new apartments while another GPT Group asset is potentially subject to further expansion. Long expected to hold a commercial tower facing Lonsdale Street, whispers persist that a tower may still eventuate on the prime site which forms part of Melbourne Central.
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