Frasers Property Australia and Colliers International have launched "Central", the first retail offering at the $2 billion Central Park development in downtown Sydney.
Central comprises 16,000sqm of retail over five levels, situated within the podium of the One Central Park residential towers on Broadway, with towers designed by globally-acclaimed French architect Jean Nouvel and retail spaces conceptualised by The Buchan Group.
The new development will aim to provide shoppers with a blend of gourmet groceries and streetwise fashion, along with future-focused electronics retail, entertainment and dining, and urban wellbeing. However, according to Colliers International national director of retail, Nathan Clark, the precinct will veer away from the conventional large shopping centre format, and instead target the youth market and aim to fill a perceived niche.
“Central will have a youth focus, be fashion-forward and offer 18-hour trading and Sydney’s southern CBD does not have a retail offering of this calibre despite demonstrable demand,” he said.
“Central’s contemporary design, feature elements, interactive interiors and retail outlets will ensure a stand-out precinct that will really contribute to the urban village of Central Park.”
Clark has also seen significant interest from national retailers keen to cash in on the new development.
“Major Australian retailers are attracted to developers like Frasers who are providing shopping and entertainment destinations that increase foot traffic,” he said.
“[Because] these highly directional retail environments allow retailers to develop innovation within their brands, increase existing customer bases and push up moving annual turnovers.”
Central is expected to officially open to shoppers in April 2013.