Lewis Land Group welcomes Vicinity Centres as new joint venture partner for Harbour Town Premium Outlets Gold Coast
Tuesday, 12 October 2021
12 OCTOBER 2021: Australia’s most experienced private property developer, Lewis Land Group (LLG), is delighted to welcome Vicinity Centres (Vicinity) as its new joint venture partner at Australia’s largest outdoor outlet shopping centre, Harbour Town Premium Outlets Gold Coast (HTPOGC).
The change in joint ownership follows the sale of Australian Prime Property Fund Retail’s (APPF Retail) 50% interest in the asset to Vicinity. APPF Retail is a wholesale fund managed by Lendlease.
HTPOGC is Australia’s largest outdoor outlet shopping centre with over 230 stores across 55,693sqm, located in Biggera Waters on the Gold Coast. Originally developed by LLG and opened in 1999, the centre was the first outdoor outlet centre in Australia.
The sale comes at an exciting time for the surrounding precinct, as LLG moves to finalise the master plan for its adjacent landholdings. This is expected to bring growth opportunities and improved amenity to the centre and its tenants as well as the wider Gold Coast community.
Lewis Land Group CEO Matthew McCarron acknowledged Lendlease for their support in expanding the centre during their decade as a co-owner of HTPOGC.
“Lewis Land Group has enjoyed a long and successful partnership with Lendlease at Harbour Town Gold Coast, and we have valued our longstanding relationship,” said McCarron.
“We are delighted that Vicinity Centres has decided to pick up the torch from here. The collaboration between two of the country’s leading outlet operators will provide huge benefits to our customers and retailers, and we’re very excited about the future of our partnership.”
Vicinity Centres is one of Australia’s leading retail property groups, with a fully integrated asset management platform and $22 billion in retail assets under management across 61 shopping centres. The business has extensive experience in outlet management as the owner and operator of the DFO portfolio.
“Since building Harbour Town Gold Coast, Lewis Land Group have provided a unique shopping experience for Gold Coast locals, as well as domestic and international visitors. We are thrilled to partner with Vicinity Centres as we explore and realise new opportunities for this Gold Coast icon.” said McCarron.
“After extended periods of lockdown and COVID-19 restrictions, Australians are excited to get back to real-life experiences and LLG believes this will see shoppers flood back to prime retail locations. While online shopping can satisfy the shopping urge from a practical sense, there’s nothing like the sense of discovery and social interaction that outlet shopping can provide and this is a great time for HTPOGC and its owners to enter this exciting new phase.”
Vicinity Centres’ CEO and Managing Director, Mr Grant Kelley said, “We are delighted to be acquiring a 50% interest in Harbour Town Premium Outlets Gold Coast. Harbour Town is an outstanding asset with significant growth opportunities. We are especially pleased to be entering into our first strategic partnership with Lewis Land Group and we are confident that our shared organisational values of enriching our communities and creating destinations where people love to work, shop and relax will deliver mutual value creation.”
The HTPOGC sale will not impact Harbour Town Premium Outlets Adelaide which remains 100% owned by LLG.Back To Top