While flagship tenants like Myer and David Jones might be deserting the shopping centres, their proximity to transport and good schools put the centres in prime position for a residential revolution.
“These centres will eventually have to downsize and turn their empty spaces into apartments,” Dr Mortimer predicts.
“Most of these centres sit on great real estate, close to good schools, rail and main roads. Most have bus transit terminals, vital for medium density living.”
Despite what you might think the ever growing Chermside Westfield is not to blame for the demise of its department store competitors.
“Once we shopped at department stores for everything from furniture and whitegoods, to stationery, school shoes and dress fabric,” Dr Mortimer said.
“But today we’d rather go to mega specialists such as Harvey Norman, Ikea, A-mart and Spotlight for furniture, bedding and consumer electronics.”
Looks like shoppers will soon be fighting property developers for a car park on a Saturday morning.
Read the full story on the QUT website.
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