The Glen Shopping Centre: The impact of redevelopment

THE GLEN Shopping Centre was opened in 1967 with around 30 shops and a department store, originally Lindsays but taken over by Target, and had around 600 car spaces. But what impact will the more than $500M redevelopment have?

“In 1991, the centre expanded to 120 retailers, with a 100 per cent increase in car spaces to 1,200,” said Ray White Commercial Glen Waverley Managing Director Ryan Trickey.

“In 1996, the biggest expansion took place, with an extension to 170 stores and retail power David Jones joined their list of retailers.

“In 2015, there was a circa $500M commitment to the centre to increase the specialty stores to over 240 and include a new generation David Jones, with an increase to around 78,000sq m, approximately 30,000sq m more commercial space than previous.

“We’ve just finished the commercial redevelopment portion of the build with a mix of premium food and fashion all taking part. There’s a significant residential element to follow – with construction underway at this time.

“Major changes are yet to be seen, however in the first days of trade, a curb-side review of the conventional retail precinct on Kingways and Coleman Parade would suggest a reduction in lunch trade to the tune of more than 50 per cent.

“This may be hype but I’ve no doubt that conventional retailers will be compelled to look to improve their offering, food, service or experience if they seek to remain relevant.”

Mr Trickey said Glen Waverley was flanked by several large shopping precincts, Chadstone, East Land, Westfield Knox and Box Hill.

“With our access and transport links, Glen Waverley offers an easy to access location that’s linked to an organic long-standing retail precinct,” he said.

“Without the upgrade, the local area could’ve fallen victim to these other large draw cards with retailers moving to other areas.

“The redevelopment offers more dwelling in the activity center (a state government and council objective) and more retail and entertainment to service this influx of residents.”

Mr Trickey said the development made a clear effort to open its access to the retail precinct by channeling people in and back out to the former conventional ‘high street’ retail.

“Although some of the older dated retailers will need to pick up their game (presentation) if they wish to continue to draw in customers, there’s now more competition and the consumer is spoiled for choice,” he said.

“The link between the conventional retail and new retail is key, because if a synergy is created, then both win.

“This is as simple as entry and exists assisting retail behavior. You want the consumer to enjoy both the high street retail and the new shopping centre.

“They can walk and get a coffee at their old favorite coffee shop and then walk down to try on a new pair of Ray Bands in a new $500M shopping centre.”