The successful introduction of the State Government’s Activity Centres policy in 2010, which removed the caps on shopping centre development, has created an environment in which every major shopping centre is looking to grow.
This notion was expounded by Jim Tsagalis, Managing Director of Lease Equity at the Property Council of Australia’s Reinvention of Retail Breakfast on July 3rd.
Scott Nugent, State Development Manager at AMP Capital, explained to the audience that “the Government, the Planning Commission and industry knew we had to change, or be left behind.”
According to Mr Tsagalis, new developments inspire people to look at Perth differently, both internationally and locally. He predicted that by 2016/17 we will see a very different CBD.
Mr Nugent stated that international retailers are looking at Perth in a big way, while Australian retailers are learning to adapt to changes in the industry.
Yvette Keatings, National Development at Charter Hall, covered the work being done in the asset management and development of sites at Raine Square, Wanneroo, Secret Harbour and in South Headland.
The Property Council would like to extend its thanks and appreciation to the event sponsors, Airlite Group and TPG Town Planning, Urban Design and Heritage.
Following the event, Managing Director of TPG David Caddy said "a strong message coming out of the discussion is that retailing is changing and the challenge is to get people off the net and back into the shops by providing an engaging, enjoyable and worthwhile experience such that a visit to the shopping centre becomes more than just somewhere to buy the necessities of life - it becomes an event."