BIG W and The Lederer Group today confirmed the withdrawal of their Development Application for a new Goulburn store in the Marketplace on Verner Street. Big W cited a review of the business case and the highly competitive market in the local area in general merchandise retailing.
The retail giant would have competed directly with Kmart and the new Target development. ‘BIG W is a value-driven discount department store that relies on high sales volumes at low margins and it is disappointing that the Goulburn project is no longer financially viable.’ Says Joanne Turner, National Property Manager Big W.
“BIG W constantly reviews their growth strategy and while the development of a BIG W in Goulburn is not currently viable, this may be reconsidered in the future.” Ms Turner said.
The Marketplace continues to house a number of Australia’s leading major retailers including Woolworths and ALDI supermarkets. The current approval for the ALDI redevelopment will remain and an alternate retail operation will now be investigated.
Steven Lacey, Asset Manager for The Lederer group has confirmed that they remain focused on delivering an improved shopping experience. Expansion plans of the existing ALDI Supermarket will continue, remaining unaffected by the BIG W withdrawal.
The face of Goulburn’s shopping precinct changed late 2012 with the opening of Target on Auburn St North. The Target opening boosted retail choice and extending the main retail streetscape to benefit the majority of local retail based at the Northern end of Auburn Street.
‘Goulburn shoppers already have the benefit of choice, with three major supermarkets and two retail department stores in the heart of the city. We are disappointed that BIG W has decided not to proceed in Goulburn at this time, but believe the shopping experience and variety within the CBD is already extensive and will only improve with the redevelopment of Marketplace and ALDI. I look forward in reengaging in discussions with the developers at some time in the future.’ said Mayor Geoff Kettle.