Shopping Centre Ranking Reveals Australia’s Big Guns

Australia’s largest centre, Vicinity and the Gandel Group’s Chadstone in Victoria, ranked as the most successful in the Shopping Centre News (SCN) 2017 Big Gun Rankings, with a 5.1 per cent increase in turnover to just over $1.5 billion in retail sales in 2016.

Chadstone has the largest gross lettable area in Australia at 212,300 square metres.

According to the Australian Financial Review, a notable performer in turnover was Scentre Group’s Westfield Miranda in south Sydney, which posted a 14 per cent increase in turnover to $926 million in its first full year of trading after a major redevelopment.

 Mirvac’s Broadway in Sydney was the centre with the highest turnover by square metre at $14,447 a square metre, up 4.9 per cent against the previous year.

The AFR said it just beat Westfield Sydney at $13,148 a square metre, but even that number is 7 per cent higher than previous year.

“Sydney Westfield claimed a win in another area – the centre with the highest speciality turnover by square metre at $21,168 a square metre. These are shops less than 400 square metres in size.”

In less than impressive results, Westfield Chermside’s turnover fell five per cent, while Westfield Doncaster and WA’s Garden City Booragoon’s turnover fell 2.3 and 2.5 per cent respectively.

Having viewed the finalised results, the AFR said winning back the customers from the online world is the top agenda for nearly every landlord in 2017.

New AMP Capital Shopping Centres’ Managing Director Mark Kirkland told the AFR that MP Capital used the “place-making approach” to lure the discerning shopper.

“Consumers are more and more savvy … we are competing for the share of their valuable time,” he said.

“This means it is important for us to provide refreshing experiences … customers want to see the outdoors brought indoors – think light, water and greenery.”

According to the AFR, Vicinity Centres introduced robotic cleaners and implemented Wi-Fi and smart energy usage, as ways to look after customers in return for their decision to physically shop with them rather than choosing to buy online, which is available worldwide.

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