Australian Large Format Retail Industry Not Slowing Down According to Latest Directory
Large Format Retail Association and Deep End Services officially launched its 11th edition of the Large Format Retail Directory, which contains invaluable information about a record number of operating homemaker centres across Australia and New Zealand.
Over the past year, the number of Large Format Retail centres increased from 282 to 293 in Australia, and 17 to 18 in New Zealand. Large Format Retail sales for 2018/19 are estimated at a record $81.7 billion in Australia and $17.3 billion in New Zealand.
The Directory provides readers details about 311 existing homemaker centres, as well as a further 30 centres under construction or have development approved or planned.
There is a total of 5.3 million m2 of floorspace between the 311 operating homemaker centres, and an expected additional 542,101 m2 of floorspace once construction of the 30 identified sites is completed.
In Australia, the current floorspace dedicated to the sale of Large Format Retail goods represents approximately one-third of all retail floorspace.
Data from Deep End Services also demonstrates that a typical Australian homemaker centre contains 16,999 m2 of floorspace and a typical New Zealand centre contains 19,281 m2 of floorspace.
Retail conditions continue to be challenging within Australia, with wages growth remaining stubbornly low. Whilst leasing activity remains healthy within the sector, the average vacancy rate in Australian homemaker centres increased from 5.0% in 2018/19 to 6.2% in 2019/20, but still well below the peak of 7.4% in 2012/13.
The Directory also includes the latest planning updates in each jurisdiction and information on typical floorspace allocation within homemaker centres.
It also lists the top 10 largest homemaker centres and top 10 largest precincts in Australia (by total floorspace).
The Large Format Retail industry is a key employer in Australia, with approximately 450,000 jobs supported by the industry.
The 11th edition of the Large Format Retail Directory is now available to purchase.
Upon purchasing a hard copy of the Directory one eDirectory licence key is issued. The eDirectory provides users access to Directory data via their smart phone, tablet or computer and has the added advantage of being GPS enabled. Additional licence keys can also be purchased.
