Case Studies

Clarendon Centre – South Melbourne

We have successfully managed this Centre since 2006. Redeveloped in 2008 to include a 2,800m2 Coles Supermarket and 25 Specialty Shops, two upper levels of ‘A Grade’ Suburban Commercial Office space leased to Austereo (Fox FM & Triple M Radio Stations) and 2 levels of basement carparking.

Achievements

• Key role in the development and management and leasing of this market leading 15,000m2, 5 level Mixed Use Centre in the heart of South Melbourne. 
• Successfully implemented a strategic retail plan in 2012 to comprehensively remix the specialty tenant offer to reflect the changing market from the initial economic indicators which supported fashion to a tenancy mix highly focused on food and services resulting in zero vacancies and improved sales.
• Increased customer traffic to the centre by 22% over a 2 year period
• Increased the major tenant’s sales figures by 15.2% over a 2 year period
• Increased valuation of the centre from $64 Million in 2013 to $125 million in 2017
• New tenants are on average occupancy costs of 11%, below benchmarks for a neighbourhood centre. 
• The Centre is now into the early stages of a new strategic plan to reflect today’s market including medical and allied health and a remix of the specialty shops to counter the growth in food services in the area and fill vacancies.

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Greenvale Shopping Centre

We have successfully managed this Centre since 2002

Redeveloped in 2008, converting a small 2,800m2 Neighbourhood Centre anchored by a second tier supermarket to a 3,300m2 Coles Supermarket, 29 specialty shops, padsite and boundary residential.

Achievements

• Key role in the development and management and leasing of this 6,500m2 Neighbourhood Shopping Centre located to the northwest of the Melbourne CBD in one of Melbourne’s fastest growing residential corridors.
• We maintain a vigilant watch over the tenancy mix to ensure it continues to reflect the local trade area demands which are now on the rise.
• The Centre is now heading out of a second stage redevelopment including a new 1,000m2 standalone Medical & Allied Health Centre and further strengthening of the fresh food offer to meet the growth in customer demand in primary and secondary catchment areas.
• The Centre continues to trade well with nil vacancies.
• Strong enquiry for centre
• Improvement in net income of 39% over four years.

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Swan Hill Square Shopping Centre

We have successfully managed this Centre since 2003

A 3,400m2 Neighbourhood Centre including a 2,900m2 Coles Supermarket and 5 specialty shops located in the Rural City of Swan Hill.

Achievements

• The Centre continues to experience strong and sustained sales growth reflecting its positioning statement and current food and service based offer.
• The Centre is fully leased in difference to its local competitors and some regional cities.

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Thomastown Shopping Centre

We have successfully managed this Centre since 2005

A 2,500m2 Neighbourhood (Owners Corporation) Centre including a 1,800m2 IGA Supermarket and 5 specialty shops located to the north of the Melbourne CBD.

Achievements

• We have successfully established and managed a collaborative relationship between the Members resulting in the completion of significant capital improvements to the Centre and its repositioning.
• The Centre presents a prime redevelopment opportunity to reflect the changing demographics and we have successfully convinced the Owners to explore this opportunity resulting in the formulation of a strategic major redevelopment plan.
• Provision of continued and astute financial and operational management services.

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