Industry News

Victoria’s Derrimut Village proceeds with expansion

Derrimut Village Shopping Centre proceeds with expansion

Australia’s convenience-based shopping centre category has demonstrated strong performance despite the challenging retail environment. Melbourne-based family business Noordenne Family Group are investing in their retail asset by expanding their Coles anchored Derrimut Village Shopping Centre. Construction is set to commence soon and comprises an additional 3,500m2 and a 7-Eleven.

The 18 retailer centre,  anchored by a 3,200m2 Coles supermarket, Chemist Warehouse and McDonalds has seen positive growth over the past few years, predominantly underpinned by a residential catchment that can be best described as discount savvy consumers.

Chris Parry and Nick Segran of Leedwell Property who are marketing the expansion have pre-committed three new retailers to anchor the development, with each of the incoming retailers seeing real opportunity, tapping into a market driven by consumers seeking affordable items.

Located in a high growth catchment

Salvation Army and NQR Discount & Variety each securing 470m2 and Ezy Buys committing to 1,000m2 are the most recent addition to the Stage 2 expansion of the existing 5,600m2 centre.

Nick Segran said “With the retail environment evolving on a daily basis, the inclusion of three new retailers to the market certainly promotes some positive affirmation to the industry. With the imminent rise of discount shopping, each retailer will be a welcomed addition to the centre. All adhering to a common theme and ultimately complementing each other in its own right”.

“Despite disruption from COVID-19, many groups we are dealing with understand that this will pass and Omni-channel retailing is still best practice, it’s important to continue to develop amenity and convenience to Melbourne’s growth suburbs” he said.

The Noordenne Family are not unfamiliar with challenges, and unprecedented times, Johanna and Lodewyk (Lew) Noordenne migrated from the Netherlands shortly after WWII in the early 1950’s to what eventually became a legacy of constructing more than 1,000 homes across Melbourne’s west, and developing numerous shopping centres.

Stage 2 of the development, is expected to be complete by Q4 2020 and offers a further 1,800m2 of retail space available, sizes ranging from 130-1,340m2.

About the author

Shopping Centre News

Shopping Centre News (SCN) is in the ‘information business’, and is perceived as such by its readers. Daily industry news makes shoppingcentrenews.com.au a must-visit as part of the morning routine for those who want to keep right across the latest retail developments and events, while SCN's premium magazine is the leading publication for the shopping centre industry in Australia and New Zealand.

Known as the ‘industry bible’ SCN is printed five times a year with fascinating, in-depth features and important critical analysis written by known industry insiders as well as the popular ‘Guns’ reports, which ranks Australian shopping centre performances. Shopping Centre News is the only publication in the world that features centre statistics on Turnover, Turnover per square metre and Specialty Shop turnover per square metre for every major centre in Australia.

Add Comment

Click here to post a comment

Advertisement

Advertisement