The new Myer Joondalup store will comprise two levels, featuring a large range of apparel, homewares and electrical, and will be built at the Lakeside Joondalup Shopping City.
The Centre was recently purchased by the Lend Lease managed Australian Prime Property Fund Retail and an institutional investment partner.
Myer Chief Executive Officer, Bernie Brookes said the new Myer Joondalup is an important part of Myer’s long-term strategy
“Myer’s 50-month turnaround is about to be completed and new stores, like Joondalup, underpin Myer’s growth strategy and give us a very solid platform for sustainable, long-term growth,” said Mr Brookes.
“Western Australia has been one of our strongest performing states and this new store will strengthen Myer’s footprint in the West. We are looking at other potential sites as well,” he said.
Mr Brookes said that the new Myer Joondalup store will service one of the largest growth corridors in Australia.
“There are more than 200 000 people that live in Joondalup and in the next six years the population in the area is expected to grow closer to 250 000.”
“All of the other key indicators show that Joondalup is one of Australia’s emerging areas which make it an ideal location to build a new Myer store.”
The number of new store leases that Myer has signed is now 13. Negotiations for a further two new stores are expected to be concluded in the near future.
“Myer made a commitment to its shareholders that we would expand our network of stores from 65 to 80 by 2014 and this demonstrates that we are on track to deliver this,” Mr Brookes said.
Myer Director of Buying Operations, Penny Winn said a range of Myer’s most popular brands will be available at the new Joondalup store.
“Myer has the biggest range of local and international designers and brands like Wayne by Wayne Cooper, Hi There by Karen Walker, NF by Nicole Finetti, as well as Country Road and Cue will be available at Joondalup,” said Ms Winn
About Myer Joondalup
Myer Joondalup will be located within the existing Lakeside Joondalup Shopping City Centre. The trade area population is estimated at 213,620, increasing to 242,820 by 2016. The average household income in the main trade area is $59,849 compared to the Perth metropolitan average of $54,551. Department Store Type Merchandise expenditure in the trade area is expected to increase from $1,153.6 million in 2010, to $1,593.7million in 2016 – an increase of 5.7% per annum.