Home Property Australia Myer exit from Wollongong offers opportunity

Myer exit from Wollongong offers opportunity

  • May 25, 2016

Myer exit from Wollongong offers opportunity

The recent announcement that Myer Department Store is closing it’s Wollongong branch in October 2016 offers the chance to update and diversify some of the major retail floor space in the CDB.

David Jones will be moving out of their current premises to take up the location of the current Myer store. They will be opening a ‘new look’ contemporary store, similar to other locations like Eastlands.

Myers’ decision to leave will come with an inevitable period of transition, but also opens up space and opportunity for other major brands and retailers to come to Wollongong.

This decision will result in a major shake up in the Wollongong retail portfolio, and enable an update of the current department store locations which have occupied the same extensive floor space in the Wollongong CBD for many years now.

The upcoming announcement of an international fashion store coming to Wollongong, signifies that there is sufficient consumer and investor confidence in the recently upgraded and expanded Wollongong CBD. We hope to see some more exciting announcements of new retailers coming to town over the coming year.