In an industry sometimes prone to fixating on change, Roselands Shopping Centre has focused on continuity — and continuity, it seems, is exactly what its customers prefer.
Roselands, one of 93 retail assets owned and managed by Melbourne, Australia–based Vicinity Centres, opened in 1965. It is a three-level regional shopping center with some 61,700 square meters (about 664,000 square feet) of gross leasable area. It is not what many would call a trophy asset, being very much an old-school, unpretentious suburban mall unlikely to win nomination for any architectural design awards. And yet the property has remained so comfortable in its original skin, as it were, that virtually no major repositioning has been necessary. The shopping center still hums along generating sales of about A$8,555 per square meter annually (€5,676). Glitzy this property is not, but if one is the sort who is inclined to argue with success, then this is the perfect place to come and do that.
In an age of squeezed redevelopment cycles and a constant urge to reinvent, it is unusual to find a shopping center that works this well while still substantially conforming to a decades-old form and merchandising model. Rather than progressing with slash-and--burn-type redevelopments, Roselands’ ownership has been content to merely fine-tune. Change has occurred, to be sure, but this has been nuanced and carefully designed to avoid alienating a loyal customer base. One big change occurred in the mid-1980s, when the three-level -department store anchor gave up its ground-floor space to Coles, a major supermarket chain.
Despite the fact that Roselands is a regional shopping center and therefore strongly represented in the fashion and general-merchandise categories, food is the bedrock of its success. Food for consumption at home and food-service establishments collectively account for some 40 percent of its sales volume. This drives visits and keeps sales buoyant during economic downturns. Another engine of success has been the mall’s local retailers. In a world in which retail chains typically rule, independent retailers are vitally important at Roselands. These shoppers want to know not only what they are buying, but also from whom.
The Roselands market is culturally diverse, with nearly half the area’s residents having been born overseas: Greeks, Italians, Vietnamese, Chinese and Lebanese all add flavor to the regional customer base. One thing they all seem to share in common is an affinity for the center’s local orientation and sense of continuity. “There is a level of comfort and familiarity that it sits in the middle of suburbia and feels like a fine safe place to come home to,” said Marina Majeran, the shopping center’s marketing manager. “People still love Roselands as though nothing has changed.”
All of this notwithstanding, the ownership is hardly becoming complacent. There is a redevelopment plan in the works, as are also technology initiatives intended to ensure that Roselands is up to speed with contemporary shopping habits. SCT
