Toombul Shopping Centre has today announced further upgrades to the Centre – this time to the precinct’s Fashion, Bunnings and ALDI Malls. The announcement comes as owner, Mirvac, continues its investment into the centre to deliver a dynamic, urban retail destination that better serves the evolving local trade demographic, following their acquisition of the site in June last year.
Works to date include major works to the centre’s car park where 200 covered car spaces were introduced in December 2016, upgraded amenities in the Target Mall, a number of new tenancies such as Bunnings, Laser Clinics Australia, Koffy Trike and Bellrose Jewellery, with others including Petbarn, The IT Shop, W Lane and Studio Solo due to open soon.
The rejuvenated Fresh Food Mall, which is currently underway and due for completion in September this year, will offer customers a retail mix of take-home, eat-now products, well established fresh food retailers and revitalised seating areas to deliver a relaxed communal environment. The Fresh Food Mall rejuvenation is due to be completed in September, in addition to the relocation and expansion of Anytime Fitness.
The latest mall upgrades announced, are set to commence this month and include a new contemporary look whilst curating a modern retail-mix to complement popular existing tenancies including Witchery, Sportsgirl and Bras N Things. At the completion of these works, a majority of the internal malls throughout the centre will have undergone a transformation.
Narelle Checchin, General Manager, Retail Development at Mirvac, said that this latest news adds to what has been an exciting and successful year for Toombul, as the centre evolves into a modernised retail destination.
“Toombul is at the start of a revival and the changes so far are evidence that we are dedicated and focused on delivering the vision for this centre. Toombul sits in the heart of an affluent, growing trade area and has stood the test of time, celebrating its 50th anniversary this year. For Mirvac, it’s not just about the retail, it boils down to customer experience and the vision we have set is a direct response to customer needs and trends. Right now, the focus is on improving amenity and the overall experience for our customers but we aren’t just investing in the now – we are investing in Toombul’s future,” said Ms Checchin.
This isn’t the first time Mirvac has invested significantly into its retail assets, after the ASX-listed company shifted its focus in 2013 to unlocking value in its portfolio and acquiring new centres, such as Toombul. Their success is evident in its statistics, with over 106 million customers per annum visiting their centres and nearly $3 billion retail sales in FY16, placing the company amongst the top returning retail property businesses in Australia.* Importantly whilst increasing in scale, the portfolio has also improved in performance, with comparable specialty sales productivity growing by over 30% since December 2013 to over $9,700/sqm.
Toombul follows in the footsteps of some of Mirvac’s most successful retail assets, which have recently undergone similar advancements, including Broadway Sydney, Orion Springfield Central and Sydney’s Birkenhead Point Outlet Centre, which this week unveiled a new fashion precinct.