Development Opportunities   arising from  Activity Centres Policy Michael Chappell Director
Michael Chappell <ul><li>Urban Economist of 23 years experience </li></ul><ul><li>Founder and Director of Pracsys Economic...
Retail Environment <ul><li>Government handouts stimulate retail sales however weakness to occur through to 2011 </li></ul>...
Retail Environment <ul><li>Retail rent weaker than anticipated, with declines accelerating in Q2 2009 </li></ul><ul><li>Yi...
Retail Caps How has the old ‘caps’ policy stifled retail development? <ul><li>Overall supply is low (sqm per capita) </li>...
<ul><li>Activity centres, not shopping centres </li></ul><ul><li>Focus on activity diversity and intensity </li></ul><ul><...
New Centre <ul><li>Initial focus on transaction-driven retail and consumer services </li></ul><ul><li>Long term plan for m...
Redeveloped Centre <ul><li>Age ≠ maturity </li></ul><ul><li>Maturity requires quality of amenity </li></ul><ul><li>Higher ...
Existing Centre Implications What are the implications for existing major centres like Karrinyup & Garden City?
Existing Centre Implications <ul><li>Unique strategy for each centre </li></ul><ul><li>Booragoon needs more diversity and ...
“ Mixed Use” How can shopping centre developers take advantage of the new mixed-use development requirements for centre? <...
Residential in Activity Centres Does the new policy mean shopping centre developers have to build apartments too? <ul><li>...
Main Street What does Main St developments really mean and what are scenarios? <ul><li>Planning response to the mall ‘phen...
Department Store Wars <ul><li>David Jones – 4 new stores planned </li></ul><ul><li>Myer – expansion response? </li></ul><u...
Trading Hours <ul><li>Support for extended weeknight trading to 8pm  </li></ul><ul><ul><li>64% in favour (Westpoll Oct ‘09...
Activity Centre Performance Assessment <ul><li>Please feel free to approach any of our consultants here this morning for m...
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Australian Shopping Centres: Development Opportunities Arising from Policy Reform

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This presentation shows the implications for the diversification of activity at traditional shopping centre sites arising from policy reforms for activity centres in Perth, Western Australia

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  • WA – 1.9 sqm per capita NSW – 2.0 sqm per capita VIC – 2.14 sqm per capita
  • Australian Shopping Centres: Development Opportunities Arising from Policy Reform

    1. 1. Development Opportunities arising from Activity Centres Policy Michael Chappell Director
    2. 2. Michael Chappell <ul><li>Urban Economist of 23 years experience </li></ul><ul><li>Founder and Director of Pracsys Economics </li></ul><ul><li>Research program economics of urban systems </li></ul>www.innovation4cities.com www.pracsys.com.au
    3. 3. Retail Environment <ul><li>Government handouts stimulate retail sales however weakness to occur through to 2011 </li></ul><ul><li>Retail supply levels slow substantially as project defer plan until economic conditions improve </li></ul>Source: Westpac Property
    4. 4. Retail Environment <ul><li>Retail rent weaker than anticipated, with declines accelerating in Q2 2009 </li></ul><ul><li>Yields likely to ease further, reverting closer to 10 year averages </li></ul>Source: Westpac Property
    5. 5. Retail Caps How has the old ‘caps’ policy stifled retail development? <ul><li>Overall supply is low (sqm per capita) </li></ul><ul><li>Floorspace productivity is high ($7,238 vs $6,247) </li></ul><ul><li>Lack of innovation in WA retail development </li></ul><ul><li>Disperses retail uses out of retail zones </li></ul><ul><li>Created an adversarial activity </li></ul>
    6. 6. <ul><li>Activity centres, not shopping centres </li></ul><ul><li>Focus on activity diversity and intensity </li></ul><ul><li>Priority development of accessible centres </li></ul><ul><li>Concentration of employment @ centres </li></ul><ul><li>Higher quality of employment </li></ul>Development Scenarios What are some of the scenarios for new & redeveloped shopping centres after the new policy if implemented?
    7. 7. New Centre <ul><li>Initial focus on transaction-driven retail and consumer services </li></ul><ul><li>Long term plan for maturity to full retail offer, but also non-retail components </li></ul><ul><li>Maturity recognises quality of amenity and employment as well as floorspace </li></ul>
    8. 8. Redeveloped Centre <ul><li>Age ≠ maturity </li></ul><ul><li>Maturity requires quality of amenity </li></ul><ul><li>Higher order centres need non-retail high quality employment </li></ul><ul><li>Priority for centres with good accessibility </li></ul>
    9. 9. Existing Centre Implications What are the implications for existing major centres like Karrinyup & Garden City?
    10. 10. Existing Centre Implications <ul><li>Unique strategy for each centre </li></ul><ul><li>Booragoon needs more diversity and intensity </li></ul><ul><li>Karrinyup needs more diversity and accessibility </li></ul>
    11. 11. “ Mixed Use” How can shopping centre developers take advantage of the new mixed-use development requirements for centre? <ul><li>Shopping should become more localised </li></ul><ul><li>More (and more variety of) users </li></ul><ul><li>Longer, multi-purpose trips (consolidate trips) </li></ul><ul><li>More diversity of activity </li></ul><ul><li>Developer alliances for delivery </li></ul>
    12. 12. Residential in Activity Centres Does the new policy mean shopping centre developers have to build apartments too? <ul><li>NO! </li></ul><ul><li>but </li></ul><ul><li>They should scope out appropriate sites nearby </li></ul><ul><li>As the main property owners they may need to take responsibility for getting them built </li></ul><ul><li>Form alliances that can deliver </li></ul>
    13. 13. Main Street What does Main St developments really mean and what are scenarios? <ul><li>Planning response to the mall ‘phenomenon’ </li></ul><ul><li>Main St should be interpreted as list of outcomes, not a prescribed design: </li></ul><ul><ul><ul><li>integrated amenities with catchment and transport </li></ul></ul></ul><ul><ul><ul><li>diverse activity and users </li></ul></ul></ul><ul><ul><ul><li>long trading hours </li></ul></ul></ul><ul><ul><ul><li>perception of high amenity </li></ul></ul></ul>
    14. 14. Department Store Wars <ul><li>David Jones – 4 new stores planned </li></ul><ul><li>Myer – expansion response? </li></ul><ul><ul><li>Less travel distance </li></ul></ul><ul><ul><li>Greater comparison goods diversity </li></ul></ul><ul><ul><li>Centre anchors </li></ul></ul>Vs
    15. 15. Trading Hours <ul><li>Support for extended weeknight trading to 8pm </li></ul><ul><ul><li>64% in favour (Westpoll Oct ‘09) </li></ul></ul><ul><ul><li>Enable multi-purpose trips (eg. shopping, dining, entertainment) </li></ul></ul><ul><ul><li>true ‘activity’ centres </li></ul></ul>
    16. 16. Activity Centre Performance Assessment <ul><li>Please feel free to approach any of our consultants here this morning for more information. </li></ul>

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