Retailing to surge

THE surge in investment in new retail and tourism infrastructure in the Perth city centre over the next two years will result in a surge in retailing in the city centre, according to NSC Corporate director Andrew Campbell.

Mr Campbell believes the Bell Tower was also influencing investment in the area and accelerated plans for the redevelopment of the Perth Arcade at the corner of Barrack and Murray streets.

“The owners wish to capitalise on the success of the new Bell Tower and other major retail and tourism investment, which will substantially increase the flow of pedestrian traffic in the CBD area,” he said.

Mr Campbell said the $500 million of new projects including the Perth Convention Centre, the new Myer megastore, Woolworth’s store, the David Jones store and the Barrack Street redevelopment, would significantly increase the pedestrian traffic flows in the Perth CBD.

“These new developments will assist in reversing an overall declining trend in the number of shoppers in the Perth CBD in recent years as measured by the number of pedestrians,” he said.

“During the period 1997-99, the average in major street malls in the CBD fell by 0.5 per cent and by 6.5 per cent for major arcades.”

This trend is expected to be reversed with NSC Corporate predicting pedestrian flows to increase by more than 30 per cent in the next two years.

“Retailing in the city centre is undergoing a major transformation with the sector now beginning to enjoy its best prospects in the CBD area for more than a decade,” he said.

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