Bowral secures place on

BOWRAL: The developer behind popular retail strip The Intersection - Paddington is set to repeat the process, launching a multi-million development in his home town of Bowral.
Theo Onisforou, a former property partner of James Packer, has launched an application with the Wingecarribee Shire Council seeking permission to turn a 2.5 acre plot of land into a $40 million high-end retail development.
The single-level shopping precinct, which will go under the name The Intersection - Bowral, will feature 34 speciality stores and include a ten pin bowling alley, a fully-enclosed children's play gym and a purpose-built farmers market hall.
The retail spaces available in the new precinct will range in size from 55 square metres up to 800 square metres, however Onisforou said he "didn't imagine" he would get 34 separate tenants with larger retailers opting to combine two or three spaces together.
The development application, launched late last year, is still with the council. However a decision on whether the project can go ahead is not expected to be made until the closing and subsequent hearing of public submissions later in the year. If approved, construction on the land, which Onisforou purchased in three separate lots over the past five years, would begin straight away.
Onisforou said early indications suggested the development would be well received by community members of the affluent town, which boasts among its ranks talk back radio host Alan Jones, Westpac CEO David Morgan and publisher Ita Buttrose.
With a population base of around 50,000 and several private schools and hospitals in the area, Bowral was more than ready for a high-end retail precinct of this nature, he said.
"The retail [offerings] just haven't kept up with the rising demographics in the area."
It is understood the new development will be anchored by Diane von Furstenberg and Diesel, for which Onisforou holds the Australian licensing and distribution rights.
In an attempt to emulate the success of the Paddington Intersection, Onisforou has turned his back on potential partners to self-fund the development.
Onisforou said this will enable him to retain control over the running of the precinct and perspective tenants - each of whom will be offered lease agreements of between three and five years.
"My experience at Paddington shows that if you can control a big chunk of [a new development] you can control the quality of the tenants. I've got good taste but not everyone has as good a taste as me."