Monday, 12 April 2010

Parramatta. Westfield to lose sales

Westfield’s Parramatta and Burwood shopping centres would lose $15 million in sales should the Department of Planning (DOP) permit US giant Costco to develop a $60 million outlet in Auburn, according to the company’s consultants, Essential Economics. The research notes 28 existing rival shopping centres in the Sydney catchment would lose a collective $61.7 million worth of sales. The proposed centre would have about 14,000 square metres of shopping area - four to five times the average Coles or Woolworths supermarket – 4000 different products versus more than 20,000 different products in an average Coles or Woolworths, and up to 800 car parks. Westfield, AMP and the Shopping Centre Council of Australia, which are among objectors of the project, said the proposed store was in breach of existing state planning laws. Some 454 comments have been made to the project on The Australian’s website. Costco opened its first Australian outlet at Docklands, in Melbourne, in Aug 2009



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