From underperformer to western suburbs shopping star
After years of failed redevelopment attempts, Pacific Werribee in Hoppers Crossing has finally received the revitilisation it has longed for.
RetPro took on a strategic project to transform the very dated, old and small, sub-regional shopping centre, to reimagine and deliver a completley new-look, high-class, well-trading regional shopping centre.
The RetPro team became involved after gaining approval from centre oweners,’ Pacific Group, to spend $400 million on a new retail design layout and acquire new tenants through an aggressive leasing strategy.
Characterised by wide sunlit malls, natural materials and marble stone floors, the complex is located in Melbourne’s west. As a result of the redevelopment, the centre tripled its annual sales,
and increased the net operating income by an exceptional 78 per cent.
The two-year program has been recognised in the industry as a ‘stand-out success’ compared to other developments across the country, as the standing $250 million in asset value was
converted to an impressive $1.3 billion.
While the redevelopment required no extra land to service the expansion, it underwent extensive growth from 72,000sq m to 110,000sq m. It now features more than 270 stores, up
more than 120 retailers than it originally housed, and offers over 1500 new car spaces.
Much-loved local retailers such as MYER and Target were introduced, alongside international brands including Uniqlo, TK Maxx and H&M.
The centre’s development has been well-supported by incredible growth across the region’s population. RetPro was able to anticipate and respond to the trade area growth to meet the changing demographics and provide for increasing customer demand.
In response to consumer feedback, a number of retailers were replaced with higher quality vendors.
Through their experience in redeveloping a number of diverse shopping centres, RetPro has a great knowledge and understanding of which retailers suit different demographics and a variety of trade areas. This expertise underpinned the strategic leasing choices that were delivered for Pacific Werribee. The response. Overwhelming!
The City of Wyndham is one of the highest growth corridors in Victoria, RetPro needed to ensure that the strategy for the redeveloped centre could deliver customer convenience and experience, ensuring that customers had everything under one roof.
RetPro are particularly proud of the new-look fresh food precinct which enables customers to purchase all household goods, whether it’s a full weekly shop for the family, a quick top-up or
your favourite gourmet treats in one visit.
After an expansive renovation, the restaurant precinct has been dubbed a major drawcard for the destination, along with the reinvigorated entertainment space which features two Gold Class
cinemas and a street of ‘Urban Diner’. This will continue to be expanded in future developments.
After 12 months of planning and a two-year project, RetPro successfully tripled the centre’s foot traffic and gave the local hub a new lease on life.