Retail FeatureSPECIAL REPORT FEATURE Key takeawaysRetail • Circa $5bn WA retail project pipeline • Five big projects worth $3bn yet to proceed • New dining and entertainment precincts trending • Services, residential SENSORY: Ross Robertson says Perron Group started its Belmont Forum revamp in 2015, after recognising the need next stage to offer a variety of shopping experiences. Photos: Gabriel Oliveira Shopping for experiences New retail property developments are driving offerings that capitalise on lifestyle needs, but five of the biggest projects are yet to push the button. the new Fresh Food precinct ear- Group, which is investing about restaurants and the revamped with the top four (ranked by cost) lier this month. $1 billion to expand three of its Events Cinema at Whitford City yet to formalise project timelines Comprising 11 independent Perth centres. had led to a significant increase (see page 22). food outlets, the precinct includes Scentre Group completed the in customer traffic. These comprise Karrinyup a specialty butcher and seafood first stage of its Westfield Whit- “We are in an extremely com- Shopping Centre, Garden City, operator, as well as a new Coles, ford City redevelopment last petitive environment, with Westfield Stirling and Galleria and follows a revamped dining year, investing $75 million in multiple bidders competing for Shopping Centre. Details on the precinct, which opened in 2017. the revitalisation of its dining the consumer dollar, be it from next stages of Westfield Whitford Mr Robertson said Perron and entertainment hub, which the digital space or simply other City’s transformation are also yet Katie McDonald started its renewal of Belmont included the introduction of a sectors,” he said. to be announced. [email protected] Forum in 2015, after identifying microbrewery, as well as the cre- “The retailer and product mix This totals about $3 billion the need to offer a variety of ation of a games arcade featuring we offer is broader than ever worth of projects, out of the 11-PAGE FEATURE shopping experiences. a bowling alley. before and has evolved to include state’s current pipeline of approx- “Fresh food is one of those The retail group has also spent all elements of lifestyle and imately $5 billion. ITH the click of a products that shoppers like to $350 million at Westfield Car- wellbeing. Business News reached out to mouse or touch of connect with,” Mr Robertson told ousel on a rooftop dining and “As a business, Scentre Group has the owners behind five of the W a screen, it’s easy to Business News. entertainment space and a new shifted away from the traditional biggest projects, who said future scroll through an online cata- “They like to touch and feel it, fashion mall, which is set to open concept of shopping centres. dates were yet to be confirmed. logue of retailers and products, knowing they’re not only select- August 30. “We call them ‘living centres’. This year is a busy time for shopping without the need to ing the freshest ingredients but It will become the state’s larg- “Our customers are experience retail project delivery, with more browse physical stores. are also buying quality, locally est shopping centre as ranked by focused, coming into our centres than 98,000 square metres of But there are certain things that sourced produce. gross lettable area on the BNiQ for much more than shopping; space to be added to market. the online world can’t replicate, “Our aim was to achieve a Search Engine (see page 28). our centres are places where Among them is the $350 mil- and Perron Group chief execu- best-in-class fresh food shopping The organisation has a similar people come to be entertained, lion redevelopment of Mandurah tive Ross Robertson is banking experience, along with a vibrant vision for Westfield Stirling (for- relax, dine, socialise and shop.” Forum, which opened in March on customers’ desire for sensory dining precinct that would stim- merly Innaloo), where it plans a and introduced major retailers experiences being among them. ulate an extended night-time $600 million expansion, though Projects David Jones and H&M to the The Perth-based property economy.” a start date is yet to be finalised. Major retail developments centre. group’s $65 million redevelop- Disrupting the traditional Scentre Group general manager valued at almost $5 billion have Other projects include the $150 ment of its Belmont Forum centre nine-to-five shopping centre par- development Roy Gruenpeter been completed, are under way, or million DFO at Perth Airport culminated with the opening of adigm is top of mind for Scentre said the introduction of 14 new are planned for Western Australia, and the $100 million Midland FEATURE Our aim was to achieve a best-in-class fresh food shopping experience along with a vibrant dining precinct that would stimulate an extended night-time economy - Ross Robertson Gate extension, as well as Plaza hotel openings and new student Arcade’s $6.5 million makeover accommodation in the east part with new anchor tenant UNIQLO. of Perth. The first stage of Raine Square “There’s also been (the com- is also due for completion next pletion of) Yagan Square and month, with owner Charter Hibernian Place that offer a dif- Hall investing $75 million into ferent experience, that speak to updating its dining, retail and an audience at night. There are entertainment offerings. more reasons to visit the city It forms part of a larger $150 now.” million three-stage project, with Mr Tsagalis said Optus Sta- plans for a revamped Murray dium, especially with the opening sqm Street fashion precinct opening of Matagarup Bridge, had been >98,000 next year, and the development of another positive for the city, with RETAIL SPACE ADDED TO MARKET 2018 The Royal Hotel (to open in 2020). many event-goers now passing Charter Hall head of office through the CBD. REDEVELOPMENT: Westfield Carousel will overtake Lakeside Joondalup as WA’s largest development Andrew Borger said “We’re starting to see some shopping centre when its expansion opens this month. with all the neighbouring devel- improvement,” he said. opment, including Yagan Square “WA probably had a perfect and the new Perth Busport, the storm of a significant pullback of “As consumers, we’re changing were the same, and at the time in driving shopping centre evolu- group realised that site acces- investment, and the high-low of our shopping habits,” Ms Manifis found that Lakeside Joondalup tion further. sibility and connectivity (both the boom-bust commodities we’ve said. was the most diverse centre. Urban Development Institute internally and into neighbouring had has amplified it. “The millennials eat out more “It’s a period of significant of Australia WA chief executive precincts) would be critical to “Tenants are also trying to than the previous generations. change for retail; some major cen- Allison Hailes said WA’s strata leg- ensuring Raine Square remained come to grips with whether they “And we now work differently tres haven’t had any investment islation was more than 30 years old. relevant. need to be omni-channel; for (i.e. full-time working households), for nearly 20 years, and retailers Under its current form, most “On completion, Raine Square some online has been a signifi- which changes how we use our are re-valuating how they best mixed-use developments were will be a true late night, seven-day cant growth area, others say it’s personal time, we’d rather go out reach consumers,” Mr Stone said. governed under a single standard retail, dining and entertainment a necessary evil they don’t make for a quick easy meal. It’s a natu- “There’s more emphasis on the strata scheme, Ms Hailes said. precinct in the heart of the CBD,” money out of.” ral progression as to how we are design of centres, not trying to As a result, retail, commercial and Mr Borger told Business News. evolving, so retailers and centre cram kiosks, (but) creating places residential uses generally fell under “Online shopping is a popular Market owners are capitalising on that.” where people want to hang out. one scheme, often creating conflict and convenient option for many. JLL head of retail Ann Manifis Ms Manifis said there was no “Currently it’s all about food over who funded what and who had However, there is an appeal about said one of the biggest challenges doubt a push towards ‘experi- and beverage … so what’s the next access to different facilities. the experience that bricks and emerging from the current spate ential’ shopping was under way innovation? The Community Titles Bill will mortar shopping provides cus- of redevelopments was managing across the sector (see page 24). “I think it’s services, civic uses allow for the separate manage- tomers that won’t go away, and that influx of new space within a “There are a portion of sales … libraries, full-floor medical cen- ment of different uses within a this space considers that.” relatively subdued environment. conducted online, but at the end tres and health precincts.” single project. Mr Borger said natural lighting, “It puts pressure on leasing, not of the day consumers still want He said using land for non-re- “We’re already seeing a move to glass facades, greenery, and herit- only in the centres that are being to interact, we want to share the tail development, for apartments more mixed-use developments in age restoration were some of the developed, but in the smaller cen- experience, connect with our or aged-care communities, was Perth where we don’t just have a design elements the group hoped tres that are not,” she said.