Northbridge Plaza Shopping Centre (Aus)
Purchased in 1987, this centre comprised a Woolworths Supermarket and 34 speciality shops.
One of the worst performing retail centres in Sydney, it required intensive management, major internal reconstruction to correct design flaws, refurbishment and a new tenancy mix.
The first reconstruction was completed in 1989.
The internal mall area was redesigned to ensure that customers passed most tenancies on their way to Woolworth's.
Additional shops were created out of internal open space, new quality retailers were brought in to meet customer needs and the mall was refurbished.
By the time of sale in 2004, there had been at least 4 major renovations, eleven additional shops created, constant tenancy mix upgrades and additional land purchased for extensions and additional parking.
The adjacent service station was acquired to extend Woolworth's and create the pre eminent supermarket on the lower North Shore of Sydney and one of the highest turnover supermarkets in Australia.
The centre’s total sales per square metre, per annum, were at least 2 to 3 times higher than any other shopping centre in Australia based on publicly announced sales reports of the leading and largest shopping centres in industry magazines and Financial news media. The turnover of Northbridge Plaza was not publicly announced.
Northbridge Plaza supported the community financially and in many other ways.
It was one of those rare opportunities where it was possible to create a quality, successfully trading centre, in an environment that was friendly, supportive and a wonderful place to shop and meet.
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