This article is from the Australian Property Journal archive
A COTTON On Mega Store will open in the overhauled Wodonga Plaza shopping centre, on the border of Victoria of New South Wales, after the group signed a lease over 1,150 sqm.
New addition to the centre Best and Less opened last month, while Cotton On has pencilled in September 6 for its opening date.
Comac Retail Property Group negotiated the leases.
Wodonga Plaza has been overhauled since last year starting with a change of ownership when Perth-based M/Group paid $43 million to Vicinity Centres.
Now, a $2 million redevelopment of its eastern is almost complete, and will include a food precinct and fashion-focused remix of tenants.
Comac director, Chris Quirk advised the exit of the small Woolworths, previously a Franklins, and a strategy was devised to replace the vacated supermarket, enhance the discretionary spend, add food and renew existing leases.
“The addition of the mini major’s along with the introduction of new apparel retailers and three new food outlets will round off the mix to create a complete offer that was previously lacking in the Wodonga retail landscape,” Quirk said.
Two more national fashion operators are soon to be announced as new tenants in the centre.
Ichiban Sushi, Quick Kebabs and Sandwich Chef, will join existing food tenants Muffin Break, Boost Juice, Donut King, Valentines Bakery and Café, and Waffle-On Desserts in the centre.
M/Group has extended the centre’s weighted average lease expiry through new leases, as well as securing the renewals of Flight Centre, Just Group, Williams, Suzanne Grae, EB Games, Boost Juice, Bright Eyes, Bakers Delight, and Just Cuts, and the replacement of Harmony Nails.
By the end of September, 23 leases, taking in renewals and new deals, will have been secured in the Plaza since October last year.
Australian Property Journal
