RetailLeon Della BoscaTue 20 Oct 26
GPT Targets 18-Hour Trade with $170m Melbourne Central Makeover
Shopping centres have long been built around business hours. At Melbourne Central, The GPT Group is spending $170 million on two upper levels designed to trade 18 hours a day.
Rooftop demolition is complete at Melbourne Central, clearing the way for the expansion that would add a dining and entertainment precinct to the CBD centre’s upper floors by 2028.
Works on Levels 3 and 4 began on October 12 with a ceremonial wall demolition.
Designed by ARM Architecture and built by Maben Group, the project will deliver about 7800sq m of new retail, dining and entertainment space. Total floor space is to grow to about 63,000 square metres.
Plans for the new levels include glazed dining zones overlooking La Trobe Street, a large-format entertainment hub and new food retailers.
Melbourne Central occupies two city blocks between Lonsdale and La Trobe streets and has more than 300 retailers across five levels. Annual visitors exceed 55 million people.
GPT head of retail Chris Barnett said the upper-level offer was designed to trade well beyond standard shopping hours.
“The precinct we’re delivering will be just as relevant at 9pm as it is at lunchtime, a destination where people can meet, discover, dine, shop and be entertained,” Barnett said.
Leasing demand from retailers and hospitality operators reflected the group’s confidence in the CBD, he said.
“Experience-led destinations in well-connected city locations continue to attract genuine, long-term commitment from the best brands in the market.”
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Construction will take place while the centre continues to trade. Maben Group director Craig Gathercole said the focus was on keeping it running for customers, retailers and visitors.
“Delivering a project of this scale within a fully operational CBD destination takes careful coordination and planning,” Gathercole said.
City of Melbourne Lord Mayor Nicholas Reece said the investment would support the city’s night-time economy.
“Creating more reasons for people to come in, stay longer and enjoy everything the CBD has to offer is good for surrounding businesses, good for our city and good for Melbourne’s future.”
Last month, GPT opened its $555-million 51 Flinders Lane office development, where Firmus Technologies and JCDecaux have joined AirTrunk, WPP, FM and Koda Capital as tenants.
In Brisbane, GPT’s value-add partnership has agreed to buy the 32,000sq m office tower at 66 Eagle Street for $380 million, in a deal expected to settle next month, subject to Foreign Investment Review Board approval.
