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The Glen Shopping Centre is a major regional retail destination in Glen Waverley, approximately 26 kilometres south-east of Melbourne CBD, with a gross lettable area of 76,488 square metres across two levels. Anchored by David Jones, Target, Coles, Woolworths, and ALDI, it features over 205 specialty stores spanning fashion, lifestyle, and services, alongside a fresh food market hall and an outdoor dining precinct with more than 10 eateries emphasizing indoor-outdoor experiences.
Annual visitor footfall stands at 14.9 million, supported by a total trade area population of 321,186, bolstered by integrated residential development including over 500 apartments housing 1,500 residents who provide a captive customer base. The centre benefits from proximity to Glen Waverley railway station and major arterials like Springvale Road, enhancing accessibility via public transport and 3,500 parking spaces.
Market position is solid in Melbourne's south-east corridor, where retail sales per square metre average around AUD 10,000 annually, driven by affluent demographics with high disposable income.
Occupancy rates hover near 97%, aligning with national trends for regional centres, though recent redevelopment approvals in 2023 aim to expand GLA by 20,000 square metres and add mixed-use elements to counter e-commerce pressures.
Leasing advantages include flexible terms with incentives up to 30% of gross rent in specialty categories, but challenges arise from intense competition and occasional infrastructure disruptions near the station.
Overall, it offers stable performance for non-discretionary and experiential retail, with risks from market saturation in fashion segments.
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Hours of Operation
Hours
| Monday | 09:00 AM — 05:30 PM |
| Tuesday | 09:00 AM — 05:30 PM |
| Wednesday | 09:00 AM — 05:30 PM |
| Thursday | 09:00 AM — 09:00 PM |
| Friday | 09:00 AM — 09:00 PM |
| Saturday | 09:00 AM — 05:00 PM |
| Sunday | 10:00 AM — 05:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographic Profile
Glen Waverley catchment features a well-educated population with a median age of 38 and significant Asian influence, comprising about 25% of residents, fostering demand for Asian cuisine, electronics, and premium fashion. Household income averages AUD 1,800 weekly, above Melbourne's median, supporting higher basket spends of AUD 120 per visit. Steady population growth of 1.5% annually enhances long-term viability, though aging infrastructure in surrounding areas could impact accessibility for elderly shoppers, a growing segment at 15% of the trade area.
Competitive Landscape
Primary competition stems from Chadstone Shopping Centre, 15 kilometres away with 464,000 square metres GLA and 28 million annual visitors, drawing regional traffic and potentially saturating luxury retail categories. Local rivals like Pinewood and Brandon Park offer smaller-scale convenience but lack The Glen's anchor diversity. This positioning risks footfall diversion during peak periods, yet The Glen's residential integration and rail proximity provide a defensive local draw, mitigating broader market share erosion in a south-east retail corridor experiencing 2% annual sales growth amid post-pandemic recovery.
Leasing and Operational Metrics
Occupancy at 97% reflects strong demand, with specialty rents ranging AUD 400-600 per square metre annually, inclusive of turnover provisions up to 7% for food and beverage tenants. Operational quality is high, with recent upgrades to dining areas improving dwell time to 90 minutes average. However, base rent levels have stabilized post-2023, with incentives necessary in weaker categories like apparel due to 5% vacancy risk from e-commerce shifts; parking ratios of 1:22 support logistics, but potential rail extension works through 2026 may temporarily reduce access, advising lessees to negotiate disruption clauses.
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Melbourne, VIC
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