Builder on board for Brand Junction
MAB Corporation is pleased to announce St Hilliers as the builder for Brand Junction, the brand outlet centre that is planned to open its first centre in Melbourne’s burgeoning north- eastern growth corridor at University Hill.
St Hilliers commenced operations in Victoria in 2001 and have established a significant presence in the market with development projects in excess of $450 million and construction projects valued at more than $300 million.
“We are delighted to be working with MAB to deliver this further stage of the $40 million University Hill Town Centre retail precinct, which is an important development for this area,” Tim Casey, St Hilliers Executive Director said.
Earth works and service works for the roads and infrastructure are underway at Brand Junction and St Hilliers is well established on site, having commenced construction of stage one of the Town Centre, due to open next Easter with Brand Junction to be completed late 2007.
Being more than 12 months out from opening, MAB Corporation is in the process of concluding agreements with a number of key retailers including: Evolution Sports; Figgins; PO Box; GAZ MAN; Casual Guy; Wittner; Pelaco; Motto; Home Express; Laura Ashley; The General Trader; Mikasa; and Kleins.
Senior Retail Development Manager, Mark O’Connell, said that Brand Junction has been strategically developed to meet a gap in the market and to address the growing trend towards discount brand outlet shopping in Australia and New Zealand.
“Retail trends indicate that consumers are increasingly looking to do their shopping in locations that have traditionally served as community hubs and meeting places – and the street based University Hill development is able to meet this growing lifestyle trend,” Mr O’Connell said.
“According to independent research commissioned by MAB Corporation, it is forecast that the current available expenditure for University Hill’s estimated trade area is calculated to be $770 million and is anticipated to grow by a healthy 25 percent to in excess of $1billion over the first 10 years.
“Value segment research has also found that the population surrounding University Hill has a preference for purchasing brand names, and by 2016 total spending on identified core factory outlet goods is estimated to be $1.046 billion.”
University Hill is a multi-staged mixed-use development 18 kilometres from the Melbourne CBD. It will combine a new residential development, a bustling town square, a ‘street-based’ retail centre, a premium discount brand outlet and a business park environment.
Stage one of the town centre development will launch during Easter 2007 with the opening of a Coles Supermarket and 28 specialty outlets featuring a range of retailers from Melbourne’s most famous shopping streets. Brand Junction will open shortly after, delivering up to 90 premium discounted brands under the one roof for the value conscious, savvy customer.
Upon completion, the Town Centre is expected to service a catchment of more than 15 percent of Melbourne’s population, all within a 20 minute drive time of the development. In addition to this existing market, University Hill will ultimately cater for up to 1,100 homes and generate more than 3,500 jobs for people who live in the City of Whittlesea.
Additional statistics show that the total population located within the 20 minute drive time zone from University Hill is 614,092 residents, of which 145,934 are located within a 10 minute travel time zone. 58.13 percent of the population within the 20 minute drive time are aged between 15 and 54 years.
“All the research has indicated that this is a well positioned location for a discount brand outlet centre taking into account the population growth projected for the region and the receptive profile of the market to brand outlet shopping,” Mr O’Connell said.
“The Plenty Road location that intersects with the Metropolitan Ring provides a significant opportunity for businesses that require a visual location, with the combined passing traffic for University Hill exceeding 100,000 cars per day.
“Central to one of the fastest growing population corridors in Melbourne and adjacent to RMIT and within proximity of La Trobe University campuses, retailers can rest assured that they are investing in a location that is big on both convenience and customers.”
The discount retail outlet market segment is a new direction for MAB Corporation and the organisation has committed a great deal of resources to ensuring its entry is high-impact and successful.
“MAB Corporation is planning to roll out the Brand Junction concept store as part of a broader strategy and will consider further potential sites as appropriate opportunities become available,” Mr O’Connell said.
“Merchandise at Brand Junction will include discounted products, discounted lines, clearance stock, current season overstock and brand outlet stock.
“Leasing space ranges from 80m2 to over 500m2 to attract the range of retailers many of whom have not previously had the opportunity to directly retail to this growing market.”
To underpin the successful launch of Brand Junction, a high-impact, targeted communications campaign will be implemented ensuring all consumers are aware of the brands on offer at Brand Junction. Promoting the positioning line of ‘Big Brands. Bigger Savings’, the core brand values of ‘value’, ‘high quality at bargain prices’ and ‘savings’ will be communicated consistently and effectively to consumers, with pre-launch, launch and ongoing marketing programmes scheduled.
MAB Corporation is an established developer in Australia and continues to deliver innovative, high quality commercial, residential and industrial developments since 1995.
The company currently has over $2 billion in projects completed or commenced including the landmark NewQuay development precinct at Docklands, the award winning University Hill mixed-use development , National Business Park, Global Business Park, Northcorp Industry Park, Translink Business Park and a host of other award winning developments.