AMP Capital Re-work Indooroopilly for AutoMall10 February 2021
AMP Capital, one of the country’s largest shopping centre managers, has announced it has joined forces with one of the nation’s biggest automotive retail groups to revolutionise the traditional shopping centre mix and the way cars are bought and sold in Australia – effectively bringing the car sales showroom and service centre inside a shopping centre.
In a move which many other large Shopping Centre owners will have to consider, AMP Capital are investing in the transformation of one of their Centres to provide an experience you can’t fully appreciate on line.
The works form part of a re-mix of the Centre’s eastern mall, where 30 retailers and one of the entrances to Myers have been closed off to make way for 3 new Mini Major Tenants (see image below).
AMP Capital, has secured a lease with national automotive dealership retail operator Eagers Automotive to establish an AutoMall in the centre – marking a complete shift in the way cars are marketed, purchased and serviced in Australia and the evolving retail mix of regional shopping centres.
AMP Capital Head of Retail and Investments – Real Estate, Marco Ettorre said the partnership with Eagers Automotive is a clear example of how AMP Capital is responding to customer feedback and the changing nature of shopping centres.
“We are excited to partner with Eagers Automotive in this exciting new retail format and first within Australia. This partnership is a coming together of the future of car sales and the future of retail.
“We know from our research that customers are seeking a broader offer beyond the traditional retail mix when visiting their local shopping centre. This includes new experiences, a broader mix of services and stores with a greater level of convenience. The AutoMall West at Indooroopilly is just one of the new exciting usages that we are creating that customers will come to expect in the shopping centre of the future,” said Mr Ettorre.
The AutoMall West at Indooroopilly – expected to open December 2021 – will be the first of its kind in Australia. Multiple car brands will be represented in a purpose-built future retail shopping experience, providing a one-stop destination not just for car shopping but also for new and used vehicle purchasing, servicing and maintenance.
Eagers Automotive COO, Keith Thornton said: “The AutoMall West at Indooroopilly is the perfect complement to the AutoMall BNE – which we’re building next to the expanded Brisbane Airport. We know that what customers are looking for in a car shopping experience has changed. By bringing our car sales operation into the familiarity of a shopping centre environment, we’re simply modernising our offering. It’s an Australian first that we couldn’t be more excited about.”
The AutoMall West at Indooroopilly will comprise a 12-bay roof-top ‘Quick Service’ facility, with a customer drop-off and pick-up within the existing shopping centre car park – meaning you can get your car serviced on site while you shop.
The service will be underpinned by an express-service online booking system – allowing customers to nominate the two-hour period in the day that best suits them.
Directly below the service bay – and within the shopping centre proper – will be 2400 square metres of brand-new car sales showroom. The space has been designed by Sydney-based Public Design Group – renowned for their innovative retail concepts – and will blend seamlessly with the shops around it and even feature a children’s playground and fully-functioning café.
Test drives of new vehicles will be conducted from the AutoMall, customers will be able to order and take delivery of new cars from the comfort of VIP delivery bays, and shoppers in the market for a second-hand car will be able to browse thousands of new and used cars via Eagers’ Automotive Easy Auto 123 National Used Car Brand.
It’s expected there will be at least eight new car brands represented in the Auto Mall at opening – including Porsche Centre Brisbane – with other participating automotive brands to be confirmed in the coming weeks.
Indooroopilly Shopping Centre is managed by AMP Capital on behalf of investors in the AMP Capital Shopping Centre Fund, AMP Capital Diversified Property Fund and Commonwealth Superannuation Corporation.
This is a bold move by AMP Capital.
I’d love to see the Business Case on this. The works are likely to cost AMP Capital $20m+, so the payback in the rent from the 3 mini majors would need more than offset the loss of rent which 30 specialty retailers would have paid.
I am not sure about you, but I have only purchased one car in the last 10 years, where as I have made many trips to many of the stores AMP Capital has removed to make way for this proposal. No doubt AMP Capital will take the best of those shops and move them to replace other non performing tenants and somehow justify the overall project.
AMP Capital are hoping that Customers will be able to have their car serviced while they shop – not a bad idea – I can probably last about 3 hours in a Centre (unlike my wife), so they would want to be quick !
As with most types of products the way we purchase goods is changing and cars are no different. Car companies will continue to make a large variety of models off the same base model to appeal to the widest audience. Car Yards simply can’t stock all the models and will effectively have their best models on display to lure customers in.
No doubt AP Edgars know their market and have done a deal to ensure that this card yard is as, if not more, profitable than their high street version