Department store, Myer, has announced that its Belconnen store will remain open following successful negotiations with Scentre Group.
The store had been flagged in 2017 to close this year, but after agreement from both Myer and Scentre Group on committed investment into the stores to enhance the shopping experience, the store will continue trading.
The Belconnen store has been reduced from three floors to two and refurbishment works will take place across the new 12,000sqm space.
Myer CEO John King said that the reduction and refurbishment of floor space forms part of Myer's larger strategy for its retail stores.
"This is great news for our loyal customers, team members and, importantly, for the local community.
"This is an example of Myer’s Customer First Plan in action, where we are looking to work collaboratively and constructively with landlords to reduce space, improve our stores and, most importantly, to enhance our range and brands for our customers.
"This announcement demonstrates the strong partnership we have with Scentre Group and our shared commitment to a strong and sustainable retail sector in Australia," he said.
Scentre Group CEO Peter Allen said that the reduction in floor space for Myer will not only improve its offering, but will allow Scentre to introduce new retailers into the centre.
"This is a great outcome for our customers at Westfield Belconnen. Like each of our 41 living centres, Westfield Belconnen is an integral part of the local community. Myer offers an important range of products and services that our customers want and expect and a refurbishment of the Belconnen store will be welcomed by all.
"Myer’s reduced floorspace will allow us to introduce other retail partners to Westfield Belconnen which will further enhance the overall customer experience at the centre.
"This is an example of our retail partnership approach in action. We are committed to working with our retail partners to enhance the customer experience, which drives positive customer advocacy and contributes to market-leading visitation.
"Scentre Group looks forward to continuing our retail partnership with Myer."