CBD Guns 2024

bles. But they are also a CBD centre and we think it should be featured here as well; similarly, Vicinity’s Uptown (previously Myer Centre Brisbane), which is currently in pre-development mode. Such a turnaround after COVID and what a slap in the face to those commentators who opined that CBD retail was in a long-term decline. It’s a pity the way some things are reported these days; ‘sensationalism’ is the fundamental requirement for some journalists and some media entities, as distinct from truth, expert opinion and responsible reporting. It’s a case of ‘forget about accuracy, just make it sensational’. It happens not just in business reporting but right across the whole gamut of journalistic practice. Of course, there are exceptions; but it’s a pity they’re becoming a minority group. On this topic of CBD retail, SCN features very expert analysis from JLL (Jacqueline Darwis – see page 24) as well as another from Urbis and CommBank IQ (by Hamish Coleman and Melissa Neumaier – see page 26). Read those two research articles in our latest CBD Guns issue here. CBD Guns 2024 DATA TABLES The following table includes data for 23 CBD Gun centres. Click the “+” icon to view more information about each centre. CBD Guns 2024 ranked by MAT $(million)

MAT rank	Centre Name :	State :	MAT $ (million)	Owner :	Management Company :
1	Westfield Sydney	NSW	$1,076.00	SCG	Scentre Group
2	Melbourne Central	VIC	$633.03	GPT	GPT
3	Emporium Melbourne	VIC	$462.43	VCX & GIC	Vicinity Centres
4	QueensPlaza	QLD	$335.22	VCX	Vicinity Centres
5	QV Melbourne*	VIC	$299.03	Dexus & DOTA	Dexus
6	Queen Victoria Building	NSW	$280.82	VCX & Link REIT	Vicinity Centres
7	World Square SC	NSW	$273.25	ISPT & AWPF Mgt No 2	JLL
8	The Galeries	NSW	$211.28	VCX & Link REIT	Vicinity Centres
9	Barangaroo	NSW	$179.90	LLITST, LLOITST, LLMP, Marquette, Hualong	Lendlease
10	The Strand Arcade	NSW	$149.89	VCX & Link REIT	Vicinity Centres
11	Market City SC	NSW	$142.15	Jen Retail Properties	Jen Retail Properties
12	Darling Square	NSW	$118.67	LLH, APPFC, SLP, SLLZ	Lendlease
13	Forrest Chase	WA	$115.45	ISPT	JLL
14	Gateway	NSW	$93.49	DWPF	Dexus
15	Perth City Central	WA	$74.07	ISPT	JLL
16	David Jones Building	WA	$57.52	Starhill REIT	Lease Equity
17	Greenwood Plaza	NSW	$49.74	Mirvac & Capitaland	Mirvac Real Estate
18	MetCentre	NSW	$45.52	AsheMorgan	JLL
19	Galleria Melbourne	VIC	$34.86	DOTA	Dexus
20	Plaza Arcade	WA	$26.20	Starhill Global REIT	Lease Equity
21	Stockland Piccadilly	NSW	$17.30	Stockland	Stockland
22	25 Martin Place*	NSW	NR	Dexus & DWPF	Dexus
23	Uptown*	QLD	NR	VCX & ISPT	Vicinity Centres

*Development affected CBD Guns 2024 ranked by MAT/m2

MAT/m2 rank	Centre Name :	State :	MAT/m2	Owner :	Management Company :
1	The Strand Arcade	NSW	$33,212	VCX & Link REIT	Vicinity Centres
2	Queen Victoria Building	NSW	$22,152	VCX & Link REIT	Vicinity Centres
3	Melbourne Central	VIC	$17,360	GPT	GPT
4	Gateway	NSW	$17,175	DWPF	Dexus
5	Darling Square	NSW	$16,635	LLH, APPFC, SLP, SLLZ	Lendlease
6	World Square SC	NSW	$16,046	ISPT & AWPF Mgt No 2	JLL
7	Barangaroo	NSW	$15,680	LLITST, LLOITST, LLMP, Marquette, Hualong	Lendlease
8	The Galeries	NSW	$14,232	VCX & Link REIT	Vicinity Centres
9	Emporium Melbourne	VIC	$13,568	VCX & GIC	Vicinity Centres
10	Westfield Sydney	NSW	$12,703	SCG	Scentre Group
11	Perth City Central	WA	$12,662	ISPT	JLL
12	Galleria Melbourne	VIC	$10,893	DOTA	Dexus
13	Market City SC	NSW	$10,074	Jen Retail Properties	Jen Retail Properties
14	MetCentre	NSW	$9,855	AsheMorgan	JLL
15	QV Melbourne*	VIC	$9,623	Dexus & DOTA	Dexus
16	QueensPlaza	QLD	$9,561	VCX	Vicinity Centres
17	Stockland Piccadilly	NSW	$7,891	Stockland	Stockland
18	Greenwood Plaza	NSW	$7,645	Mirvac & Capitaland	Mirvac Real Estate
19	Forrest Chase	WA	$2,747	ISPT	JLL
20	David Jones Building	WA	$2,423	Starhill REIT	Lease Equity
21	25 Martin Place*	NSW	NR	Dexus & DWPF	Dexus
22	Plaza Arcade	WA	NR	Starhill Global REIT	Lease Equity
23	Uptown*	QLD	NR	VCX & ISPT	Vicinity Centres

*Development affected CBD Guns 2024 ranked by Specialty MAT/m2

Specialty MAT/m2 rank	Centre Name :	State :	Specialty MAT/m2	Owner :	Management Company :	GLA m2
1	QueensPlaza	QLD	$30,455	VCX	Vicinity Centres	39,365
2	The Strand Arcade	NSW	$30,345	VCX & Link REIT	Vicinity Centres	5,614
3	Westfield Sydney	NSW	$27,182	SCG	Scentre Group	91,321
4	Queen Victoria Building	NSW	$25,509	VCX & Link REIT	Vicinity Centres	14,236
5	Gateway	NSW	$24,224	DWPF	Dexus	5,443
6	The Galeries	NSW	$23,565	VCX & Link REIT	Vicinity Centres	14,985
7	Barangaroo	NSW	$19,099	LLITST, LLOITST, LLMP, Marquette, Hualong	Lendlease	17,243
8	Darling Square	NSW	$16,454	LLH, APPFC, SLP, SLLZ	Lendlease	12,966
9	Forrest Chase	WA	$15,496	ISPT	JLL	42,033
10	Melbourne Central	VIC	$14,725	GPT	GPT	55,700
11	Emporium Melbourne	VIC	$14,368	VCX & GIC	Vicinity Centres	44,066
12	World Square SC	NSW	$14,094	ISPT & AWPF Mgt No 2	JLL	17,322
13	David Jones Building	WA	$13,113	Starhill REIT	Lease Equity	24,072
14	QV Melbourne*	VIC	$11,719	Dexus & DOTA	Dexus	47,332
15	Galleria Melbourne	VIC	$10,624	DOTA	Dexus	6,227
16	Plaza Arcade	WA	$10,339	Starhill Global REIT	Lease Equity	3,431
17	Market City SC	NSW	$10,265	Jen Retail Properties	Jen Retail Properties	16,821
18	Perth City Central	WA	$9,495	ISPT	JLL	14,264
19	MetCentre	NSW	$9,198	AsheMorgan	JLL	6,411
20	Stockland Piccadilly	NSW	$7,320	Stockland	Stockland	2,985
21	Greenwood Plaza	NSW	$7,026	Mirvac & Capitaland	Mirvac Real Estate	8,986
22	25 Martin Place*	NSW	NR	Dexus & DWPF	Dexus	7,492
23	Uptown*	QLD	NR	VCX & ISPT	Vicinity Centres	63,026

*Development affected CBD Guns 2024 Analysis Tool (click on any column to sort)

Centre Name :	GLA m2	GLA m2 rank	MAT $ (million)	MAT rank	MAT/m2	MAT/m2 rank	Specialty MAT/m2	Specialty MAT rank	State :	Owner :	Management Company :	Asset value: ($million) :	Traffic / year (million) :	Average Spend/ Visit ($) :	Majors / Cinemas	Number of Mini Majors :	Number of Specialties :	Number of Carparks :	Centre Manager:	Marketing Manager :	Leasing Manager	Telephone :
25 Martin Place*	7,492	17	NR	22	NR	21	NR	22	NSW	Dexus & DWPF	Dexus	-	-	-	-	-	-	311	Chris Seller	Danika Crawford	Cameron Haddad	02 9224 8333
Barangaroo	17,243	10	$179.90	9	$15,680	7	$19,099	7	NSW	LLITST, LLOITST, LLMP, Marquette, Hualong	Lendlease	-	-	-	-	9	79	-	Scott Sullivan	Kimberly McCone	Paola Sartorelli	02 9277 2034
Darling Square	12,966	15	$118.67	12	$16,635	5	$16,454	8	NSW	LLH, APPFC, SLP, SLLZ	Lendlease	-	-	-	-	1	71	-	Scott Sullivan	Kimberly McCone	Paola Sartorelli	02 9237 5116
David Jones Building	24,072	8	$57.52	16	$2,423	20	$13,113	13	WA	Starhill REIT	Lease Equity	$120.00	-	$-	David Jones	-	7	-	Lease Equity	Lease Equity	Lease Equity	08 9426 1777
Emporium Melbourne	44,066	5	$462.43	3	$13,568	9	$14,368	11	VIC	VCX & GIC	Vicinity Centres	$1,040.00	18.39	$25.15	-	15	155	-	Gordon White	Jacob Raso, Demi Georgitsopoulos	Danielle Nohra, Rebecca Tibbot	03 8609 8221
Forrest Chase	42,033	6	$115.45	13	$2,747	19	$15,496	9	WA	ISPT	JLL	-	13.3	$8.68	1	1	17	-	Amanda Clarke	Bronte Macpherson	Anthony Einfeld	08 9476 7666
Galleria Melbourne	6,227	19	$34.86	19	$10,893	12	$10,624	15	VIC	DOTA	Dexus	-	2.11	$16.54	-	1	24	240	Arabella Richards	Lorenza Maiolo	Cameron Haddad	03 9604 5800
Gateway	5,443	21	$93.49	14	$17,175	4	$24,224	5	NSW	DWPF	Dexus	-	-	-	-	8	28	197	Chris Seller	Danika Crawford	Cameron Haddad	02 9256 6963
Greenwood Plaza	8,986	16	$49.74	17	$7,645	18	$7,026	21	NSW	Mirvac & Capitaland	Mirvac Real Estate	$137.00	10.38	$4.79	Super IGA	2	93	312	Tracey Dignam	Meredith Mallory	George Wragge	02 9923 0700
Market City SC	16,821	11	$142.15	11	$10,074	13	$10,265	17	NSW	Jen Retail Properties	Jen Retail Properties	-	7.44	$25.14	IGA, TK Maxx, Paddy's Markets	1	65	627	Ray Khoury	Sandra Stern	Paul Trachtenberg	02 9288 8900
Melbourne Central	55,700	3	$633.03	2	$17,360	3	$14,725	10	VIC	GPT	GPT	$1,497.00	50.57	$12.52	Coles, Cinema	11	259	878	Denis Ryan	Samantha Carr	Ben Wynne, Brett Mummery	03 9922 1100
MetCentre	6,411	18	$45.52	18	$9,855	14	$9,198	19	NSW	AsheMorgan	JLL	$115.00	9.86	$4.63	Woolworths	-	73	-	Melissa Blair	Afaf Turk	A.Alamsyah, A.Tyler, L.Olson, D.Frazzica	02 8043 9000
Perth City Central	14,264	13	$74.07	15	$12,662	11	$9,495	18	WA	ISPT	JLL	-	2.67	$27.76	1	1	4	-	Amanda Clarke	Bronte Macpherson	Anthony Einfeld	08 9476 7666
Plaza Arcade	3,431	22	$26.20	20	NR	22	$10,339	16	WA	Starhill Global REIT	Lease Equity	$40.00	0	$-	Uniqlo	1	27	-	Lease Equity	Lease Equity	Lease Equity	08 9426 1777
Queen Victoria Building	14,236	14	$280.82	6	$22,152	2	$25,509	4	NSW	VCX & Link REIT	Vicinity Centres	$520.00	24.6	$11.42	-	4	153	669	Melanie Vale	Daniella Manuel	Aaron Barnes, Danny Belyuga	02 9265 6800
QueensPlaza	39,365	7	$335.22	4	$9,561	16	$30,455	1	QLD	VCX	Vicinity Centres	$695.00	11.58	$28.95	David Jones	3	49	600	Emma Chettleburgh	Emma Bullock	Aaron Barnes, Danny Belyuga	07 3234 3900
QV Melbourne*	47,332	4	$299.03	5	$9,623	15	$11,719	14	VIC	Dexus & DOTA	Dexus	-	38.38	$7.79	Big W, Woolworths	12	115	1500	Arabella Richards	Lorenza Maiolo	Cameron Haddad	03 9207 9200
Stockland Piccadilly	2,985	23	$17.30	21	$7,891	17	$7,320	20	NSW	Stockland	Stockland	$49.00	2.83	$6.10	-	1	38	274	Lisa Vaughan	Cathy Finlayson	Michael Maher	02 9035 2222
The Galeries	14,985	12	$211.28	8	$14,232	8	$23,565	6	NSW	VCX & Link REIT	Vicinity Centres	$300.00	17.33	$12.19	-	5	64	-	Melanie Vale	Daniella Manuel	Aaron Barnes, Danny Belyuga	02 9265 6800
The Strand Arcade	5,614	20	$149.89	10	$33,212	1	$30,345	2	NSW	VCX & Link REIT	Vicinity Centres	$203.00	4.76	$31.49	-	1	71	-	Melanie Vale	Daniella Manuel	Aaron Barnes, Robert Binder	02 9265 6800
Uptown*	63,026	2	NR	23	NR	23	NR	23	QLD	VCX & ISPT	Vicinity Centres	$300.00	-	-	David Jones, Target	5	103	1,450	Katrina Warren	Joanne Amarandos, Amber Carroll	Julia Davey	07 3223 6900
Westfield Sydney	91,321	1	$1,076.00	1	$12,703	10	$27,182	3	NSW	SCG	Scentre Group	$3,900.00	30.2	$35.70	Myer	18	252	172	Trish Dullard	Jen Ralph	Julie Gasper	02 8236 9200
World Square SC	17,322	9	$273.25	7	$16,046	6	$14,094	12	NSW	ISPT & AWPF Mgt No 2	JLL	-	23.59	$11.58	Coles	3	88	-	Nick Bell	Annalisa Sgambati	Bruce Sedgwick	0416 030 932

*Development affected Definitions: MAT: Moving Annual Turnover ( million). Total retail sales from April 1, 2023 to March 31, 2024 including GST. Includes trade from all tenants where the manager is provided with sales data (including cinemas, restaurants, travel and entertainment venues). Excludes sales from banks, ATMs, financial institutions, health insurance, TAB/soft gambling, gaming venues, amusements (rides), professional services and suites, offices, casual mall tenants and storage tenants. MAT/m2: Total retail sales from April 1, 2023 to March 31, 2024 including GST, divided by the retail area from which the retail sales were derived. Includes trade from all tenants where the manager is provided with sales data, excluding cinemas and entertainment venues. Excludes sales from banks, ATMs, financial institutions, health insurance, TAB/soft gambling, gaming venues, amusements (rides), professional services and suites, offices, casual mall tenants and storage tenants. Specialty MAT/m2: Total retail sales from April 1, 2023 to March 31, 2024, including GST, for all trade-reporting tenants with a GLA below 400m2, divided by the retail area from which the retail sales were derived. Excludes sales from cinemas, entertainment venues (such as ice skating rinks or ten pin bowling centres), banks, ATMs, financial institutions, health insurance, TAB/soft gambling, gaming venues, amusements (rides), professional services and suites, offices, casual mall tenants and storage tenants. Travel agencies are excluded from Specialty MAT/m2. (In keeping with SCCA standards). GLAm2: Gross Lettable Area. Includes the trading area of all tenants located at the centre, whether currently leased or not leased. Includes non-retail such as medical suites, offices, cinemas and entertainment etc. Does not include storage areas or casual leasing sites. CBD Guns are retail precincts with a GLA less than 50,000m2, (centres with a GLA above 50,000m2 are included in Big Guns). *N/R: Not Ranked (development affected).