Shopping Centre News Australia

Shopping Centre News Australia (SCN) has released its highly anticipated 2024 Mini Guns edition, ranking the performance of retail centres across Australia with a GLA from 6,000m² to 20,000m². This year's Mini Guns report features 172 centres. A key highlight of the report is the movement within the Top 10 centres by MAT. St Ives Shopping Village in Sydney’s North reclaimed the No. 1 position with an MAT of $264.27 million, up 3% on last year. Burnside Village in Adelaide (currently under redevelopment) comes in at No. 2 with an MAT of $228.91 million. Other centres holding strong positions in the Top 10 include Barkly Square, Pacific Square, Stanhope Village and Plumpton Marketplace, while Marketplace Leichhardt saw a notable rise, jumping two spots to No. 7 with a 5.3% increase. When examining centre productivity per square metre (MAT/m²), Charter Hall’s Pacific Square in Sydney retained its top spot with a turnover of $20,750 per square metre, followed closely by Norwood Place in Adelaide at $20,530, and Kenmore Plaza in Brisbane at $19,167. Notably, St Ives Shopping Village jumped four places to claim the No. 4 spot on the MAT/m² table, with a remarkable 15.4% increase. SCN's premium members can view the 2024 Mini Guns data tables here: https://lnkd.in/ggvsXmEt In this edition, we profile Region Group. Originally established by Woolworths as SCA Property Group, Region Group has transformed into a leading player in community-focused retail centres. The rebranding to Region Group in 2022 marked a shift to a more community-centred approach, emphasising its commitment to ‘Supporting better communities through life’s essentials.’ This philosophy drives its operations, ensuring that its centres serve as vital community hubs. In our exclusive Q&A feature, SCN invited six retail partners to share their personal experiences and career highlights and provide insights into their business – the current challenges, opportunities, trends, growth strategy and more... Participants include: Tyrone Dodds, Director of Property & Business Development, HOYTS Group Nejmi Elia, Head of Property eCommerce, Woolworths Group Zak Gelfand, Head of Property, Funlab Pty Ltd Melanie Green, Head of Real Estate, Country Road Group Jonathon Lazarou, Property Director, Strandbags Nicole Lazarou, General Manager of Property, Retail Apparel Group Premium members can view these profiles and more in the latest issue of SCN magazine: https://lnkd.in/g3-Wq77 To join our community of industry leaders and professionals as a premium member, contact subscriptions@shoppingcentrenews.com.au

A new culinary destination has launched at Chatswood Chase Sydney, bringing the best of local and global flavours to Sydney’s lower North Shore, featuring more than 40 fresh food, dining, and daily essentials retailers. The fresh food and dining offer has been engineered to celebrate food and lifestyle – with the reimagined space welcoming many of Sydney’s finest culinary teams, produce suppliers and pop-culture favourites with more signature openings coming online before the end of the year. Last year, Vicinity Centres acquired the remaining 49% interest in Chatswood Chase, giving it full control to transform the asset with redevelopment now well underway. “Despite the closure of the upper levels, the redeveloped lower ground fresh food and dining precinct is open, and we’ve had very positive feedback from our customers on the elevated offer,” said Peter Huddle, CEO and Managing Director, Vicinity Centres. The Chatswood Chase fresh food and dining flagship retailers have worked with leading award-winning interior designers and consultants, including Tom Mike Henry, The Plant Society® and Landini Associates – the original designers of Chatswood Chase, to create a contemporary experience that is reflective of the future of retail dining precincts. Read more: https://lnkd.in/gzcAAiVh

In today’s rapidly urbanising world, landlords and developers face a pressing challenge: securing and utilising land efficiently amid rising costs and intense competition. In this feature article published in the latest edition of Shopping Centre News Australia, the team at Hames Sharley explore how designers can navigate these complexities and deliver more with less by reimagining retail spaces and embracing integrated-use developments. #shoppingcentres #mixeduse #siteoptimisation #thinkingoutsidethebox https://lnkd.in/gHXgJJdm

Effective partnerships between property landlords and their retail tenants are crucial for fostering vibrant, successful commercial spaces. In this exclusive Q&A feature, published in the latest issue of SCN magazine, we spoke with Jonathon Lazarou, Property Director at Strand. Founded in 1927 at Sydney’s Strand Arcade, Strand is a leading retailer with more than 260 stores across Australia and New Zealand, known for its extensive range of bags and travel accessories. Currently undergoing a rebranding from Strandbags to Strand, the company is focused on enhancing the customer experience and continuing its legacy of innovation and growth in the retail space. “Strandbags has evolved into Strand, and we’re not just changing our name — we’re redefining the entire customer experience. Our 260-store network is expanding, with average store sizes increasing from 125m2 to 220m2, showcasing a world-class conceptual design that elevates the shopping journey. This, combined with our curated and innovative product range, crafted by our exceptional product team, truly sets us apart,” says Lazarou. “When I joined in early 2023, this transformation was just starting, with only one flagship Strand store at Highpoint. By the end of this year, we’ll have opened more than 40 Strand-branded stores across Australia and New Zealand. This evolution of the brand is what excites me!” Read more: https://lnkd.in/gfZNrsy8 #retail #partnerships #shoppingcentrenews

We are thrilled to announce and celebrate the winners and runners-up of the 2024 SCCA Marketing Awards! Last night’s spectacular Awards Gala Dinner, held at the Ivy Ballroom in Sydney, brought together industry leaders, marketing teams, and creative minds to honor outstanding achievements in shopping centre marketing. This year’s top honor goes to the talented team behind It’s Not Rocket Science, owned and managed by QIC Real Estate. The team – comprising Delphine Richard, Ashlee Hume, Jacinta Bonsak🌱, Tiffany Ellul, Hayley Coote, and Kelly McGufficke – impressed the expert judging panel with their innovative approach, dedication, and impact. As the winners, they will receive a $15,000 contribution from the Shopping Centre Council of Australia to support their ongoing professional development. The runner-up this year is Golden Ticket, a standout campaign from Melbourne Central, managed by The GPT Group. The team of Sara Aiezza, Samantha Carr, and Rachel Portelli earned high praise for their creativity and execution. They will receive a $5,000 contribution from the SCCA to further enhance their expertise and skills. “The Shopping Centre Council of Australia Marketing Awards are a great opportunity to recognise the talent we have in our industry and the creative campaigns that are executed each and every week in shopping centres across the country,” said Anthony Mellowes, Chairman, Shopping Centre Council of Australia and Chief Executive Officer, Region Group. “I’d like to extend particular congratulations to QIC Real Estate who the External Judging Panel awarded as the winner of this year’s ‘Sabina Rust Memorial Prize for Campaign of the Year’ for their It’s not Rocket Science marketing campaign,” he said. “The Sabina Rust Memorial Prize has been awarded to honour the work and friendship of Sabina Rust and was established as a key part of our program with the agreement of Sabina’s family. As a founder and managing editor of Shopping Centre News Australia, Sabina chronicled the growth, innovations, performance, and personalities of our industry, and I am sure that she would be incredibly pleased with the innovation and creativity being displayed by the industry’s marketing teams.” “Sincere thanks are also offered to this year’s independent judging panel; Belinda Daly, Director and Marketing Consultant at The Marketing Edit; Alison Riley, Chief Merchandise Officer at BSR Group and; Laura Sidey, Director of Marketing at the Australian Sports Commission. Their expertise and knowledge, ensures that the ‘best of the best’ are recognised and rewarded. “Lastly, I’d like to thank our sponsors. Without their support, this amazing night would not be possible. This is a wonderful acknowledgement of the vital role that marketing plays in the continued success of the Shopping Centre industry,” said Mellowes. https://lnkd.in/gFq7W2Gs

Effective partnerships between property landlords and their retail tenants are crucial for fostering vibrant, successful commercial spaces. In this exclusive Q&A feature, published in the latest issue of SCN magazine, we spoke with Melanie Green, Head of Real Estate for Country Road Group – one of Australia’s largest specialty fashion retailers, comprising five iconic brands – Country Road, Mimco, Trenery, Witchery and Politix. “In my opinion, the key elements of a successful retail business are understanding customer needs and wants, offering quality products that they love and delivering exceptional customer service and always invest in your team. Given my area of responsibility, a well-designed and beautiful store, in the perfect location at a sustainable rent also plays a critical role!” Read more: https://lnkd.in/g5rSTcTc #shoppingcentrenews #retail #partner #profile

In an era where community engagement and innovative partnerships are more crucial than ever, Stockland’s S Connect initiative is leading the charge in redefining how brands interact with consumers. From its collaboration with Paramount Pictures Australia to groundbreaking EV charging infrastructure with Ampol and vibrant local markets in Aura, S Connect is not just adapting to the changing landscape of consumer engagement but is also actively shaping it. "This year, there’s been an exciting step change for S Connect with augmented reality experiences, scalable sustainability partnerships and the expansion of initiatives to customers where they live at Stockland’s residential communities," said Michéle Pirozzi, Head of S Connect, Stockland. "The evolution of S Connect across the Stockland enterprise has enabled us to pursue strategic partnership opportunities that are aligned to the needs of our residents, resulting in a measurable impact to the liveability of our new masterplanned and Halcyon communities." https://lnkd.in/g2_xy2RR

Australia’s neighbourhood shopping centres have become increasingly sought after. Their attractive development controls and prime locations enhance their appeal, while a constrained supply pipeline further drives up demand. In this article (published in the latest edition of SCN magazine), JLL’s David Mahood and Sebastian Fahey delve into the factors fueling the growing competition for these high-demand properties and examine why they continue to captivate investors. "Of the 57 neighbourhood transactions that have occurred since 2023, nearly 80% were acquired by private investors, with 35 of these being acquired on a passing yield of 6% or less." Key themes underpinning neighbourhood shopping centres: 1. Neighbourhood shopping centres in Australia on average comprise 74% non-discretionary tenants, which have demonstrated resilience and drive stability in the sector. 2. Coles, Woolworths and ALDI are within the top 50 retailers globally (Deloitte, 2023), reflecting the strength of the neighbourhood shopping centre major tenant covenants. 3. Neighbourhood shopping centres have proven their ability to serve as a hedge against inflation, with food spending growing at a 5.0% CAGR over the past two decades. 4. The current neighbourhood shopping centre supply pipeline is well below the historical average, which implies an underlying demand for an additional 618,900m2 of neighbourhood floorspace over the next five years, equating to a 45.7% undersupply. 5. Neighbourhood shopping centre land values are predominately underpinned by strategic landholdings with attractive development controls allowing for future development upside. JLL APAC Retail Hannah Brisbane Nick Willis Sam Hatcher Sam Linden Stuart Taylor https://lnkd.in/gP7JNM7k

Effective partnerships between property landlords and their retail tenants are crucial for fostering vibrant, successful commercial spaces. In this exclusive Q&A feature, published in the latest issue of SCN magazine, we spoke with Zak Gelfand, Head of Property at Funlab Pty Ltd, responsible for property strategy, renewals: variations, extensions, and operational needs. “Funlab currently operates in three countries – four in the US, four in New Zealand and 44 Australian locations. Our current focus within Australia and NZ is on several larger projects per year in flagship locations, with larger scale and multi-venue sites. We are always reviewing our existing operations with a view to increase the size of our footprint on high-performing locations, adding additional brands or activities,” said Gelfand. “In my time as Head of Property, we have increased our footprint from about 50,000m2 to more than 100,000m2 in ‘fun’ under management.” Read more: https://lnkd.in/gVm2-Jkr

The Sydney-based JY Group has further expanded its Australian shopping centre portfolio with the $135.5 million acquisition of a 50% interest in Sydney’s Warriewood Square. The purchase lifts the value of JY Group’s Australian shopping centre assets to more than $2.8 billion following the acquisition of Melbourne’s Roxburgh Village which settled earlier this year and the recent acquisition of a 50% stake in Perth’s Westfield Whitford City. CBRE’s Head of Retail Capital Markets – Pacific, Simon Rooney was exclusively appointed to steer the on-market sale process on behalf of ISPT. Co-owned and managed by Vicinity Centres, the strong performing sub-regional centre is located 29km north-east of the CBD on Sydney’s affluent Northern Beaches. Rooney said the ISPT offering had attracted competitive interest, primarily from private based capital, given the centre’s prime metropolitan Sydney location, recent capital investment works of $85 million completed in 2016 together with the robust performance of the major tenants. https://lnkd.in/gPVccUHK