The long-awaited redevelopment of Morley Galleria shopping centre in Perth is on track for completion by the Christmas trading period, according to its owner, Vicinity Centres. The , announcement signals a crucial step forward for the project, which has faced years of delays and growing frustration from local residents.
The $240 million revamp, initially budgeted at $350 million, aims to transform the “run-down” mall into a modern shopping, dining, and entertainment destination. Vicinity Centres chief executive Peter Huddle stated that construction and leasing are “progressing well,” following the commencement of works last September. The company reported a net profit of $805.6 million for the six months to December, an increase from $492.6 million a year earlier, providing a solid financial foundation for the project.
The redevelopment will encompass several key features, including a new alfresco dining precinct dubbed “The Terrace,” nearly 100 retail tenancies, an entertainment precinct, and significant upgrades to the centre court. A major component of the refresh will be a facelift for the Myer Morley store, which will include a new beauty hall and the introduction of new brands. Work on Myer is scheduled to begin in May and conclude by the end of October.
The project’s progression marks a significant turnaround for Morley Galleria, which has been subject to numerous setbacks. Early works began in , with main construction slated for completion by the end of . The redevelopment aims to address local expectations and create a destination that reflects the lifestyle of the community in and around central Perth.
Vicinity Centres, one of Australia’s largest retail property groups with a portfolio of 52 shopping centres, initially valued the Morley redevelopment at $350 million, but has since revised the estimate to approximately $240 million. This adjustment reflects ongoing project management and potentially changes in scope or material costs.
The revitalization of Morley Galleria is occurring within a broader context of shifts in the Australian retail landscape. Shopping centres are increasingly focused on providing experiences beyond traditional retail, incorporating dining, entertainment, and lifestyle offerings to attract customers. The addition of “The Terrace” and the entertainment precinct at Morley Galleria are indicative of this trend.
The redevelopment is also expected to have a positive impact on the local economy, creating jobs during the construction phase and potentially boosting retail sales once the revamped centre is operational. The addition of nearly 100 new tenancies will provide opportunities for both established and emerging brands to establish a presence in the area.
The timing of the completion, targeted for the crucial Christmas trading period, is strategically important. The holiday season represents a significant portion of annual retail sales, and a refreshed and appealing shopping environment could attract a higher volume of shoppers and contribute to increased revenue for retailers.
While the project has faced past delays, Vicinity Centres appears confident in its current timeline. The company’s commitment to the redevelopment, coupled with the progress made in construction and leasing, suggests that Morley Galleria is poised to undergo a significant transformation and reclaim its position as a key retail destination in Perth’s northeast.
The success of the redevelopment will likely be measured by its ability to attract both existing and new customers, increase foot traffic, and enhance the overall shopping experience. The combination of upgraded retail offerings, dining options, and entertainment facilities is designed to appeal to a broad range of consumers and establish Morley Galleria as a vibrant community hub.
