Northbridge Plaza
Owned, operated and redeveloped across 17 years by H Investments, Northbridge Plaza was one of Australia's highest performing shopping centres at the time of sale in 2004.
Type: Shopping Centre
Location: Northbridge, NSW
Completion: 2004
Acquisition
Purchased in 1987, Northbridge Plaza was 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.
Upgrades & Development
There were at least 4 major renovations, 11 additional shops created, constant tenancy mix upgrades and additional land purchased for extensions and additional parking.
One of the most difficult was an underpinning under Woolworths to create approximately 500 sqm of net leasable area.
The adjacent service station was acquired to extend Woolworths and create the pre eminent supermarket on the lower North Shore of Sydney and one of the highest turnover supermarkets in Australia.
Performance
The centre's 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.