Westfield Bondi Junction

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Westfield Bondi Junction

Location	Bondi Junction, Sydney, New South Wales, Australia
Opening date	2003
Developer	Westfield Design and Construction Pty Ltd)^[1]
Management	The Westfield Group
Owner	The Westfield Group
No. of stores and services	486)^[2]
No. of anchor tenants	5^[3]
Total retail floor area	130,489m²^[2]
Parking	3,297 parking spaces^[4]
No. of floors	8 (Parking and Retail)
Website	http://westfield.com/bondijunction/

Westfield Bondi Junction is a shopping centre that is located in the suburb of Bondi Junction in Sydney, New South Wales, Australia. The centre was completely rebuilt in 2003 and is the largest shopping centre owned by The Westfield Group in terms of the number of retailers^[2]. It is the fourth largest in area amongst the Westfield Groups' Australian portfolio and the largest in the Sydney portfolio with a letable area of 130,489sqm^[2]. The Westfield Group is the largest retail property group in the world and owns 121 shopping centres in four countries.^[5] Today the centre’s major tenants include two supermarkets, two department stores, a discount department store and a cinema. Unlike most Westfield shopping centres, Westfield Bondi Junction caters for the upmarket consumer.^[6]

1 History
2 Statistics
3 Access
4 See also
5 References
6 External links

[edit] History

Anchor Tenants

Westfield Bondi Junction is built on land that was originally occupied by three separate retail buildings. The oldest of these was built by Grace Bros. in 1933 and continued to be occupied until the recent redevelopment. The land was also occupied by the Carousel Centre which had opened in the 1970s and Bondi Junction Plaza. In 1994 Westfield bought a controlling stake in Bondi Junction Plaza from AMP and renamed it Westfield Bondi Junction Plaza. In 2000, Westfield purchased the Carousel Centre and the remaining stake in Bondi Junction Plaza.^[7]

The redevelopment took six years for approval to be gained. This was because the shopping centre is located on the border of Waverley and Woollahra Local Government Areas. In 1997 the Minister for Urban Affairs and Planning, Craig Knowles, approved the initial concept for a redeveloped shopping centre. Following the purchase of the Carousel Centre in 2000, a new expanded scheme was submitted for approval. In 2001 the New South Wales Minister for Planning, Frank Sartor approved the the development despite the two councils objections. The scale of the development was the main reason for the delayed approval process. This included four levels of shops parking and two levels of shops underground reaching 25 below as well as three levels of shops and four levels of parking above ground. In addition a 70 metre tunnel and a 12 metre wide double story pedestrian bridge above ground. The redevelopment incorparates 458 retailers.^[8]

Westfield Bondi Junction is notable because it differs from the majority of Westfield shopping centres. The centre is located in the Eastern Suburbs of Sydney, in an area where incomes are significantly higher than other parts of Sydney. Unlike most Westfield shopping centres that aim to be family friendly, Westfield Bondi Junction caters for singles and couples who enjoys a significant level of affluence.^[6]

Westfield Bondi Junction has been blamed for the downturn in trade in surrounding shopping hubs. The nearby Oxford Street, in Paddington is one example. Retail trade in that location dropped 30% in the four months after the opening of the shopping centre with other locations in Double Bay and Woollarah experiencing similar downturn in trade.^[9]

[edit] Statistics

Westfield Bondi Junction is notable statistically among the international portfolio of the Westfield Group. The centre had the highest sales internationally among the group for the 2005 calendar year.

Number of Shops: 486 shops (1st)^[2]
Area: 130,489m² (11th)^[2]
Sales: AUD $754 million (1st)^[2]
Book Value: AUD $1,502 million (1st)^[2]
Value per Area: AUD $11,517.45m² (2nd)^[2]

For comparison:

Largest in Area: Garden State Plaza (Paramus, NJ, USA) (185,173m²)^[2]
Highest Value per Area: Chatswood (Sydney, Australia) (AUD $13,414.50m²)^[2]

[edit] Access

Westfield has a 3,297 parking spaces available to customers.^[10] It is also located opposite Bondi Junction railway station that has train services to the city and adjacent to the infamous Bondi Junction transport interchange that has bus service running to various regions throughout the Eastern suburbs and Sydney operated by State Transit.^[11]