Mirvac’s Broadway Shopping Centre has reached number one spot in Shopping Centre News Big Guns Awards 2013 for annual turnover per square metre.
The shopping centre took out the number one spot in the MAT/m2 category with $10,390/m2, an increase of 5.7 per cent on the back of a 4.25 per cent increase in MAT ($412.3 million), and one of only two Big Guns in Australia to beat the $10,000/m2 mark, the other being Westfield Bondi Junction with $10,016/m2.
Since 2009, Broadway has been Australia’s second most productive shopping centre measured by MAT/m2 for a centre over 45,000sqm. The move to number one follows the successful launch of the Centre’s Be You Rebranding launched in October and is also due to Broadway adding an enviable line up of brands to their retail mix with stores including, Apple Store, JB Hi Fi, Nike, Peter Alexander, Politix, Oxford, Lorna Jane, Pandora and T2.
“It is evident that the results of the remixing, rebranding, and innovative marketing initiatives Broadway has implemented have delivered consistently strong results in what is constantly referred to as soft retailing environment,” Susan MacDonald, GM retail for Mirvac Property Trust said.
“Comparing December 2012’s monthly performance versus December 2011, the centre sales increased by over 13 per cent.”
Broadway expects their growth to be much stronger in 2013 if the December sales are any guide. Total traffic continues to increase with 2 per cent growth to sit at 13.7 million annual visits.
“We’re very proud to be able to provide our customers with one of the best retail destinations in the country,” Adeline Chin, Broadway senior marketing manager, said.
“We consider our customers throughout every facet of delivery and ensure we provide an environment that appeals, engages and fulfils their needs. Broadway Shopping Centre will continue to evolve along with its customers.”