Centro The Glen

Centro The Glen

Location	Glen Waverley, Victoria, Australia
Coordinates	Coordinates: 37°52′35″S 145°9′54″E / 37.87639°S 145.165°E / -37.87639; 145.165
Opening date	1967
Management	Centro Properties Group
Owner	Centro Properties Group (50%) & Centro Retail Trust (50%)
No. of stores and services	207
Total retail floor area	57,776 m²
Parking	2,766
No. of floors	2 of stores and 5 of car parking
Website	http://www2.centro.com.au/TheGlen/

Centro The Glen (previously known as The Glen Shopping Centre) is a major regional shopping centre located in Glen Waverley, Victoria, Australia. The head offices of Centro Properties Group are located in the centre.

Major retailers include David Jones, Target, Woolworths, Dick Smith Electronics, Thomas Dux Grocer, Villa and Hut and Coles. It is one of the five shopping centres in Melbourne which has a David Jones.

History

The Glen first opened in 1967 with a Woolworths, a Target and 30 specialty shops and 600 car parking spaces.^[1] It was owned by the Shell and BHP Superannuation Funds.^[2] In 1991, the centre expanded to 120 stores, including a Best & Less and 2,000 car parking spaces. In addition, a food court, multiple levels of undercover car parking and travelators were added.^[1] At this point, Centro Properties took over the management of the centre. In February 1994, Centro acquired a 50% interest in the centre at a cost of A$37 million, with the two superannuation funds retaining 25% each; the Safeway was redeveloped at this time.^[3]

A major expansion in 1996 costing A$8 million saw the number of retailers expand to 170, including the opening of the first suburban David Jones store in Melbourne, with an official launch on 22 May 1996.^[1][4] In August 1999, a new consortium, Glen Property Trust in which Centro had a 50% interest, bought out the superannuation funds' stake in the centre at a price of A$81.5 million, taking Centro's stake in the centre to 75%. In June 2000, Centro acquired the final 25% share.^[5]

Centro The Glen now has over 200 stores with over 2,500 car parking spaces following a refurbishment in 2009 and now includes Rebel Sport, Thomas Dux Grocer and Harris Scarfe Home.

References

1. ^ ^{a b c} "Shopping with a touch of elegance". Sunday Age: p. 3. 14 April 1996. 
2. ^ Centro Properties Group (1993). ASX announcement, 16 December 1993. Retrieved from Factiva on 5 January 2009.
3. ^ Australian Property News, 6 June 1996.
4. ^ "DJ hits The Glen", Australian Property News, 6 June 1996.
5. ^ Jobson's Yearbook of Public Companies, 2 July 2005 under Centro (CPL) Limited. Retrieved from Factiva on 5 January 2009.