QUEEN STREET MALL LURES JAPANESE RETAIL GIANT

Written on the 4 June 2013

QUEEN STREET MALL LURES JAPANESE RETAIL GIANT

This week’s arrival of Japanese retail giant Daiso to the Queen Street Mall Myer Centre underlines commercial confidence, according to Lord Mayor of Brisbane Cr Graham Quirk.

“Queen Street Mall is the most successful pedestrian mall in Australia with 26 million visitors a year and one of the lowest vacancy rates at approximately 1.9 per cent.

“The opening of Daiso here this week is yet another example of Brisbane attracting the interest and investment of major international retailers,” he says.

The Japanese mega-retailer, known as 100 Yen Shop in Japan, is promising to be unlike anything Queenslanders have seen before, with more than 70,000 products all with a price tag of $2.80.

In the last 18 months, Queen Street Mall had a $100 million redevelopment of the Wintergarden building and a $14 million redevelopment of the Hilton Hotel.

The Industry Superannuation Property Trust (ISPT) has also proposed plans for a $70 million retail store in the Queen Street Mall.

With more upgrades earmarked, Brisbane Marketing CBD Director Megan Barron says the mall is attracting major international retailers.

“These international retailers [who are] choosing Brisbane have a very detailed and strategic recipe for success. They do their homework to ensure the growth is there and the figures stack up,” she says.

“We are seeing a wave of renewal in the QSM at the moment, making sure it’s an attractive destination for shoppers and potential investors.

“Brisbane Marketing and Brisbane City Council are actively involved in generating this investment activity making sure the QSM is an attractive destination for shoppers and potential investors,” she says.


Latest News

ACCC GIVES GO-AHEAD FOR NEWS CORP TO BUY ARM

NEWS Corporation (ASX: NWS) has been given the green light to acquire Australian Regional Media (ARM) from APN New...

ENTREPRENEUR'S NEW VENTURE SWEET AS 'HONEE'

A MELBOURNE entrepreneur hailing from the food tech scene has launched a new venture to change the face of beauty....

WATER VENTURE TAKES ON THE PLASTIC SCOURGE

DAMIEN Stone has a thirst to build the world's biggest social enterprise in a clean fight against the plastic ...

BUNNINGS BOSS JOHN GILLAM QUITS WESFARMERS

THE man behind Bunnings' home improvement domination has resigned from his role in charge of the retailer.

...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter