As part of portfolio review.
Myer Westfield Belconnen in the ACT will remain open, after Myer CEO, John King and Scentre Group CEO, Peter Allen discussed new lease agreements.
As part of the agreement, refurbishment works will be undertaken across a reduced floor space creating a two-floor, 12,000sqm store, with an improved retail experience and an increased number of new and exclusive brands.
As part of an update on the Customer First Plan, Myer will be working with landlords, in a portfolio partnership approach, to review the property portfolio with the aim of reducing space, costs and to improving store amenity. This is the first announcement through this new approach, with more to come.
“This is great news for our loyal customers, team members and, importantly, for the local community,” John King said. “It is an example of Myer’s Customer First Plan in action, where we are looking to work collaboratively and constructively with landlords to reduce space, improve our stores and, most importantly, to enhance our range and brands for our customers.
“This announcement demonstrates the strong partnership we have with Scentre Group and our shared commitment to a strong and sustainable retail sector in Australia.”
Scentre Group’s Peter Allen added, “This is a great outcome for our customers at Westfield Belconnen. Like each of our 41 living centres, Westfield Belconnen is an integral part of the local community. Myer offers an important range of products and services that our customers want and expect and a refurbishment of the Belconnen store will be welcomed by all.
“Myer’s reduced floorspace will allow us to introduce other retail partners to Westfield Belconnen which will further enhance the overall customer experience at the centre.
“This is an example of our retail partnership approach in action. We are committed to working with our retail partners to enhance the customer experience, which drives positive customer advocacy and contributes to market-leading visitation. Scentre Group looks forward to continuing its retail partnership with Myer.”