In 2008, Chadstone became the first regional shopping centre in Australia (and one of the first in the world) to crack the $1.0 billion mark in terms of moving annual turnover (MAT). In 2010, Westfield Bondi Junction climbed to the same dizzying height, becoming only the second centre in Australia to do so. This year, nine centres have broken the $1.0 billion MAT mark and what’s perhaps even more interesting is that 19 of the Top 20 have passed the $800 million mark!
For the first time since COVID hit, we’re ranking Big Gun centres and we’ve measured the percentage differences for the Top 20; but not over last year – we’ve compared them to the 2020 figures – the last time we published and ranked ‘normal’ figures. Then COVID arrived; some retailers closed completely, others partially, and all for different periods across the various states, so comparisons of Big Gun centres during this period were simply meaningless. This year, we have the first ‘normal’ figures since 2020 so we’ve compared them with that year.
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