Shopping Centre Online Glossary

Definition: Retail premises within an arcade or mall development owned by one company, firm or person and promoted as an entity within a major Central Business District.
– Total gross lettable area retail exceeds 1,000 square metres.

Key features:

• dominated by specialty shops;
• likely to have frontage on a mall or major CBD road;
• generally do not include supermarkets; and
• often co-exists with large department stores.

Definition: A major shopping centre typically incorporating two full line department stores, one or more full line discount department stores, two supermarkets and approximately 250 specialty shops.
– Total gross lettable area retail exceeds 85,000 square metres.

Key features:

• one-stop shopping for all needs;
• comprehensive coverage of the full range of retail needs (including specialised retail), containing a combination of full line department stores, full line discount department stores, supermarkets, services, chain and other specialty retailers;
• typically includes a number of entertainment and leisure attractions such as cinemas, arcade games and soft play centres; and
• provides a broad range of shopper facilities (car parking, food court) and amenities (rest rooms, seating).

Definition: A major shopping centre typically incorporating at least one full line department store, one or more full line discount department stores, one or more supermarkets and approximately 150 specialty shops.
– Total gross lettable area retail ranges between 50,000 and 85,000 square metres.

Key features:

• one-stop shopping for all needs;
• extensive coverage of the full range of retail needs (including specialised retail), containing a combination of full line department stores, full line discount department stores, supermarkets, services, chain and other specialty retailers;
• typically includes a number of entertainment and leisure attractions such as cinemas, arcade games and soft play centres; and
• provides a broad range of shopper facilities (car parking, food court) and amenities (rest rooms, seating).

Definition: A shopping centre typically incorporates one full line department store, a full line discount department store, one or more supermarkets and approximately 100 specialty shops.
– Total gross lettable area retail ranges between 30,000 and 50,000 square metres. In some instances, all other characteristics being equal, a centre with two full line discount department stores, without a department store, serves as a regional centre.

Key features:

• extensive coverage of a broad range of retail needs (including specialised retail), however, not as exhaustive as major regional centres;
• contains a combination of full line department stores, full line discount department stores, supermarkets, banks, chain and other specialty retailers; and
• provides a broad range of shopper facilities and amenities.

Definition: A medium sized shopping centre typically incorporating at least one full line discount department store, a major supermarket and approximately 40 specialty shops.
– Total gross lettable area retail ranges between 10,000 and 30,000 square metres.

Key features:

• provides a broad range of sub-regional retail needs; and
• typically dominated by a full line discount department store or major supermarket.

Definition: A local shopping centre comprising a supermarket and approximately 35 specialty shops.
– Total gross lettable area retail is less than 10,000 square metres.

Key features:

• typically located in residential areas;
• services immediate residential neighbourhood;
• usually has extended trading hours; and
• caters for basic day-to-day retail needs.

Definition: A medium to large sized shopping centre dominated by bulky goods retailers (furniture, white goods and other home wares), occupying large areas to display merchandise. Typically contain a small number of specialty shops.
– Total gross lettable area retail is generally greater than 5,000 square metres in size.

Key features:

• generally located adjacent to large regional centres or in non-traditional retail locations (i.e. greenfield sites and industrial areas); and
• purpose designed, built and operated, generally with a layout of outlets around a central, landscaped area and an overall design and colour theme to promote the appearance of an integrated development.

Definition: A specialty shopping centre, located primarily in resort areas to cater for specialist tourist needs, which does not normally include a supermarket.

Key features:

• resort or tourist style development;
• size of centre is not a determining factor; and
• comprise mainly specialty shops with food courts.

Definition: A covered centre of at least 5,000 square metres dominated by food retailing with at least 50 stalls or outlets. It operates on a permanent or irregular basis.

Key features:

• includes areas with refrigeration facilities and air conditioning as well as areas without these facilities.

Definition: A medium to large sized shopping centre which does not normally include a department store, discount department store, or supermarket.

Key features:

• comprise specialty shops often selling stock at discounted prices including samples, seconds and discontinued lines.

Definition: Enclosed Mall

A shopping centre that has an enclosed retail area, is air-conditioned and is entered from a surrounding car park that forms part of the property.

Definition: Major Tenancy
Tenancies generally greater than 1,000 square metres (GLAR) that occupy the largest space of any single tenancy in the centre and are considered major attractions to the centre by customers.

Definition: Specialty Store
A non-major retail shop in a centre that specialises in a narrow range of merchandise with an emphasis on product knowledge and customer service. Shops usually range up to 400 square metres.

Definition: Food Court
An area devoted to permanent retail tenancies offering a range of prepared foods for on-premises consumption and served by a common seating area with tables and chairs.

Definition: GLAR
Gross Lettable Area Retail as defined in the Property Council’s Method of Measurement.

Definition: NLA
Net Lettable Area for use in relation to commercial office buildings as defined in the Property Council’s Method of Measurement.

Definition: Total Centre Lettable Area
The aggregation of all lettable areas in a shopping centre retail, commercial and miscellaneous.

Definition: Refurbishment
The upgrading of a building’s fabric and services with the aim of enhancing its ability to attract customers and/or compete effectively for tenants, improve rental growth, and maximise market value.

Definition: Extension The construction and addition of significant GLAR to a centre.

Definition: Moving Annual Turnover
Sales for the twelve-month period ending in a nominated month. It is updated by adding the current month’s sales to the MAT at the end of last month and subtracting sales from the corresponding month last year. Moving Annual Turnover is calculated inclusive of GST.