David Jones Ltd has confirmed it will triple the size of its Claremont store to 30,000 square metres by early 2011 to tap into Perth's increasingly affluent western suburbs' demographic.
David Jones Ltd has confirmed it will triple the size of its Claremont store to 30,000 square metres by early 2011 to tap into Perth's increasingly affluent western suburbs' demographic.
David Jones Ltd has confirmed it will triple the size of its Claremont store to 30,000 square metres by early 2011 to tap into Perth's increasingly affluent western suburbs' demographic.
The retailer has just signed a 20 year lease with Claremont Shopping Centre owners Multiplex and SPB (Australia) Pty Ltd, with two 10 year renewal options.
The existing 10,000 square metre David Jones store is scheduled to close in early 2009, as part of a massive redevelopment of the arcade to incorporate 75 residential apartments and commercial office space.
David Jones chief executive Mark McInnes said the Claremont development would be a world class department store that had significantly more floor space, an enhanced brand portfolio and category mix, and generate $5 million of EBIT per annum.
The retailer said the Claremont catchment area was now within the top five suburban demographic locations in the nation and over the next decade, Perth was forecast to experience the highest average growth of all Australian capital cities, both in terms of population (1.3 per cent per annum) and Department Store Type Spend (5.6 per cent per annum).
Rank | Company | # | |
---|---|---|---|
27th | Joondalup Gate | 24,615 | |
28th | Lakelands Shopping Centre | 24,157 | |
29th | David Jones | 24,076 | |
30th | DFO Perth | 23,695 | |
31st | Karratha City Shopping Centre | 23,480 |