2014 – The year of retail innovation and expansion

This past year has seen the rapid development of the Australian retail and restaurant sector. Announcements of shopping centre redevelopments and expansion by retail heavyweights Westfield and Gandel Group have highlighted an industry push towards the complete retail experience. Features of the contemporary shopping experience include restaurant precincts and personalised services. There has also been a shift towards multi-purpose usage buildings which has seen retail complexes incorporating hotels, apartments and office spaces. The year has also seen the ongoing development of Australia’s niche restaurant market with investors keen to investigate any gaps in the market. Here are our top four retail articles for 2014: 1. Westfield Push The Button On $435 Million Miranda Expansion Westfield announces a major redevelopment of Westfield Miranda in Sydney. The current centre will be expanded by 19,000 square metres and over a 100 speciality and international retailers. Westfield Retail Trust and DEXUS Wholesale will oversee the project with proposals to refurbish Myer, Big W and introduce a new Woolworths and a relocated Event cinema. 2. Construction Underway Of Flight Centre’s New HQ At Southpoint The $590 million Southpoint development took a further step with the commencement of construction of Flight Centre’s new 13-storey headquarters. The development is set to become one of the largest mixed-use development projects in Queensland. Office space, retail, an upgraded rail station, and luxury apartments will all feature in the South Bank complex. Chadstone Shopping Centre[/caption] 3. Probuild Appointed To Build $300m Chadstone Shopping Centre Expansion The biggest shopping centre in Australia is now set to get even bigger with the announcement and commencement of a new expansion. It is set to include an office tower, major retail extension, and the capacity for a hotel. 34, 000 square metres is set to be added by project handlers CFS Retail in a $300 million project. 4. 8 Of Australia’s Best Food Retail Concepts A look at some of the up-and-coming food retailers in the country. Interestingly three of the eight concepts are Mexican with many developers noting an absence in the Australian market for quality Mexican food.

2014 – The year of retail innovation and expansion

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