David Jones has opened its first new store in its home city of Sydney in seven years and the first since its sale to South Africa’s Woolworths Holdings
The opening comes amid a booming mall market, as look investors to gain a foothold in centres that have development opportunities. The boom has seen close to AUD1 billion (USD878.6 million) plunged into Australian shopping centres over the past month.
The new David Jones store opened as part of the opening of the final stage of AMP Capital’s AUD440 million Macquarie Centre revamp in North Ryde on Thursday. The store was expanded to be the first to offer a dedicated Dick Smith outlet within the store, as well a full line of cosmetics, in preparation to take on make-up giant Sephora when it arrives in Sydney in the coming year.
(Source: The Sydney Morning Herald Online )