The Illawarra Business Chamber has welcome GPT Group’s decision to withdraw Wollongong Central from sale after a recent expression of interest campaign did not attract the interest it had sought.
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Chamber executive director Adam Zarth said the peak business association looked forward to continuing to work with GPT as a key employer in the Illawarra.
“GPT have a strong connection to our region, having revitalised Wollongong’s central retail precinct,” he said.
GPT Group media manager Scott Rochford said GPT Wholesale Shopping Centre Fund (GWSCF) did not get the price it wanted for the property and decided to keep the asset.
The campaign started following the completion of a repositioning of the Gateway Centre which incorporated a new David Jones department store, TK Maxx, H&M and Mecca Maxima in the newly renovated Gateway Centre.
That followed the West Keira Street development which opened in October 2014.
Mr Rochford said the arrival in the last week of homeware store Adairs followed soon by Holey Moley and Criniti’s Restaurant showed plenty of growth and activity happening in the city centre and Wollongong Central shopping centre.
GPT has reaffirmed to the Australian Stock Exchange (ASX) its guidance for 2018 of three per cent growth for both FFO per security and distributions per security. The group will present its interim results on August 13.
Greg Ellis
Almost four decades in electronic, print and digital media. A writer, presenter, emcee, photographer and videographer with degrees in business management, marketing and human resources and tertiary qualifications in photography.
Almost four decades in electronic, print and digital media. A writer, presenter, emcee, photographer and videographer with degrees in business management, marketing and human resources and tertiary qualifications in photography.
