JS: What are your key design considerations when creating a retail destination?
JR: We design local. Each super neighbourhood centre must respond to and enhance the area it serves.
We design in flexibility. A fluid retail offer that is regularly refreshed is important to keep people engaged, and the physical infrastructure of the centre should enhance the flexibility and the adaptability to new ideas and concepts.
We design beautifully. We create centres which meet people’s everyday needs while not compromising on aesthetics. Creating something beautiful means delivering an asset the community can feel pride in and ownership of.
We design sustainably. Frasers Property recently became one of the founding signatories to the first global net zero carbon buildings commitment. It means that every new building we create must operate at net zero carbon for 2030, and our existing buildings must operate at net zero carbon by 2050. It’s a real challenge to get to net zero carbon, so the super neighbourhoods that we’re designing and creating now are continuing to push the envelope in terms of what’s possible in a sustainability sense.
JS: What are the short to medium-term opportunities in the Australian retail sector?
JR: The role of the shopping centre is evolving and will continue to evolve. We have to listen to the community and be flexible in approach to make sure we have a fresh and current approach to retail in our shopping centres in order for them to become the focal heart of any community.
We are also going to see more and more introduction of mixed use elements and community services in shopping centres, such as medical, childcare and co-working spaces. The importance of a compelling entertainment and dining offer will continue to grow, creating places that people want to spend time as they increasingly view their local super neighbourhood centre as an extension of their homes.
This post was extracted from Exchange, Make’s thought leadership series which explores some of the challenges and trends that the property industry is encountering. Issue No. 2 looks at retail and is available to download.