Highpoint Shopping Centre

Highpoint Shopping Centre is a super regional shopping centre located in Maribyrnong, Victoria, in the western suburbs of Melbourne, Victoria.

Highpoint Shopping Centre
LocationMaribyrnong, Victoria, Australia
Opening date1975
DeveloperGPT Group
ManagementGPT Group
OwnerGPT Group
No. of stores and services500[1]
No. of anchor tenants7
Total retail floor area156,000 m2 (1,680,000 sq ft)[2]
No. of floors4
Parkingover 6,200
Websitewww.highpoint.com.au
Inner view of Highpoint SC.

Highpoint is Victoria's third largest shopping centre and the sixth largest in Australia, with an annual turnover of $778 million and over 15 million shoppers visiting each year.[2] It is the largest shopping centre serving Melbourne's western and north western suburbs, an area with a population of at least half a million people.

History

Highpoint is built on a hill which looks out over the Maribyrnong River to Melbourne's CBD, hence its name. An anti-aircraft battery operated on the site during World War II for protection of the surrounding military bases and ammunition works in Maidstone and Maribyrnong.

The 50-acre site was previously a quarry, as can be seen by the quarry cliff face walls of the lower carparks. The land was sold by the City of Essendon for $1.85 million in April 1971, with permission required also from the City of Sunshine as the quarry was also located in that local government area.[3]

Highpoint West opened in September 1975. Built by Development Underwriting Ltd. for $12,000,000.[4]

Named originally "Westland" to fit in with other shopping centres, Northland, etc.,[5] it opened as "Highpoint West".[4] It was later renamed "Highpoint City", and then just "Highpoint".

Redevelopment 2011 - 2013

The most recent rounds of expansion and redevelopment occurred in two stages, commencing in March 2011.[6] An additional 30,000 m² was added including the first David Jones department store in Melbourne's western suburbs.[7] Expansions, over two levels, incorporated traffic flow improvements, an additional 1,000 car spaces and 100 extra speciality retailers. The first stage of the redevelopment opened 18 October 2012 included a new Woolworths as well as a Fresh Food Market, and an improved car park with "Park Assist" technology. The second stage opened on 14 March 2013 including the David Jones store over two levels, an Apple Store, Australia's 2nd Samsung Experience store, a Topshop clothing store (now closed and replaced by Uniqlo) and a Zara clothing store along with 98 specialty stores and an extra 1,000 car spaces. One of the redevelopments aims was to improve the centre's sustainability.[6]

Ownership

Until 2006, Highpoint was wholly owned by Melbourne's Besen family (also owners of the Sussan retail chain). In March 2006, the GPT (General Property Trust) Group purchased a 50% stake and management rights in the centre for about A$621.2 million.[8] In September 2017, GPT bought the remaining 50% of Highpoint for $680 million. The Highpoint complex was independently valued at $2.3 billion in late 2016.[9]

gollark: (ABR activity tracking)
gollark: This looks quite cool now it's populated.
gollark: (it's written in python)
gollark: This is a clean build of the Random Stuff API, singlethreadedly also.
gollark: "serverwatch" has no support for webhooks, but it does have push notifications so I bet I could tweak it eventually.

References
  1. Highpoint store directory Archived 16 February 2011 at the Wayback Machine
  2. Hopkins, Philip (24 February 2011). "DJs to anchor Highpoint's $300m revamp". The Age. Melbourne: Fairfax. Retrieved 19 March 2011.
  3. Murphy, Allan (1 March 2011). "Centre's high point". Moonee Valley Weekly. Fairfax. p. 14.
  4. http://www.starweekly.com.au/classifieds/from-the-archives/
  5. "Archived copy" (PDF). Archived from the original (PDF) on 6 July 2011. Retrieved 5 February 2011.CS1 maint: archived copy as title (link)
  6. "Archived copy". Archived from the original on 6 October 2011. Retrieved 21 October 2011.CS1 maint: archived copy as title (link)
  7. Jimenez, Katherine (24 February 2011). "$300m makeover for Highpoint shopping centre". Australian. News. Retrieved 14 March 2013.
  8. GPT to acquire 50% of Highpoint, Sydney Morning Herald, 20 March 2006.
  9. https://www.realestatesource.com.au/gpt-seizes-full-control-highpoint-paying-680m-final-25-share.html

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.