Karrinyup achieves $1 billion in annual sales spurred by demand for Retail

Karrinyup has solidified its position as Perth’s leading fashion, dining, lifestyle and entertainment destination after reaching $1 billion in annual sales as of May this year. 

As the first shopping centre in Western Australia (WA) to achieve this milestone, the sales at the centre have seen an uplift of eight per cent on its Moving Annual Total (MAT) since last year. Some 13.4 million customers have visited in the last year, achieving a MAT traffic growth of over four per cent. 

Owned by UniSuper and managed by The GPT Group, Karrinyup is currently one of the top-performing super regional assets in Australia. 

The GPT Group Head of Retail, Chris Barnett said this significant growth has been driven by the centre’s exceptional supermarket and mini-major retailer offering, along with delivering first-to-market and highly productive brands for Perth customers.

“We are proud to be the first shopping centre in Western Australia to achieve this impressive milestone of $1 billion annual sales. Karrinyup continues to deliver for the millions of local customers and tourists that visit each year to enjoy our diverse and quality offering of over 300 retailers.”

Barnett added that demand for Retail is at an all-time high with research conducted by the real estate investment manager showing an underlying shortfall of 1.1 million sqm of retail space in shopping centres nationally by 2030[1].

“We are experiencing unprecedented demand for quality Retail across all our centres. This has been driven by the nation’s growing population, improvements in consumer household spending and ongoing requests from our retailers to grow their footprint both instore and online,” added Barnett.

Following the successful launch of the major redevelopment in 2021, the centre has continued to evolve, meeting and exceeding the needs of customers. 

In the last 18 months, Karrinyup has seen the Hijinx Hotel open its first and only WA venue; luxury suitcase and travel brand, July open its first and only flagship store in WA; and Yo-Chi expand its existing store to deliver WA’s flagship in April 2025.

The accolades continue with the centre winning the Best Retail or Commercial Operation at the Property Council of Australia’s WA Property Awards on the 13th of June. 

The centre was acknowledged by the industry for its strong partnership with local Scarborough Police, and unified approach across the asset with its integrated services partner, GLAD that offers exceptional cleaning, security, maintenance and guest services.

 

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For media enquiries, please contact: 

Nat Burcul
Head of External Communications, The GPT Group
Nat.burcul@gpt.com.au / 0401 919 927