Good news for shopfitters comes as a result of the recent AMP and Westfield agreement that was made in October.

AMP Capital announced that due to the acquisition of international investors, major redevelopments of three significant shopping centres – Macquarie Centre, Pacific Fair and Garden City Booragoon – will commence. It is estimated this will equate to 3,000 new permanent retail jobs and 3,450 construction jobs.

In a letter to its members, the Australian Shop & Office Fitting Industry Association (ASOFIA), said these developments come as “good news”.

The $390 million redevelopment of the Macquarie Centre will commence immediately, expanding the centre to 135 000 square metres gross leasable area (GLA) with more than 375 speciality retailers.
Upon completion, Macquarie Centre will be the second largest shopping centre in Sydney. It serves a unique growth corridor including the major customer bases of Macquarie University, Macquarie Business Park and a growing residential population.
Meanwhile, plans for the $580 million major redevelopment of Pacific Fair are being finalised. It is expected to be completed by 2016 and will have 145,000 square metres GLA and more than 400 speciality retailers.
Finally, plans are underway for Perth’s Garden City Booragoon for a proposed $350 to $400 million redevelopment to ensure it remains Perth’s premier retail destination.