Retail Classifications

The following classifications are used in the Property Council's Shopping Centre Directory and Operating Performance Handbooks.

Shopping Centre Definitions

Regional Centre

 A major shopping centre incorporating at least one full line department store or large discount department store, one or more supermarkets and generally, a minimum of 60 specialty shops. Total Rentable Area will generally exceed 15,000 square metres.

District Centre A medium sized shopping centre incorporating a junior department store or a discount department store and at least one supermarket, with between 30 and 60 specialty shops. Total Rentable Area will generally range between 5,000 and 15,000 square metres.

Neighbourhood Centre Shopping centres providing for the weekly shopping needs of communities and generally comprising a supermarket and between 12 and 30 specialty shops, and designed to provide day to day convenience goods for the immediate neighbourhood. Total Rentable Area will generally exceed 5,000 square metres.

City Centre A shopping centre or arcade development, owned, managed and promoted as a single entity, located in the Central Business District (CBD).

Town Centre
A town centre, arcade or mall development owned, managed and promoted as a single entity.

Bulk Retail Centre

Typically collections of stand-alone large retail stores. Typical tenants of these large format stores include hardware, electronic, furniture, sports and supermarket retailers.

Core Terms

Centre Type

Enclosed mall
A shopping centre that has an enclosed retail area, is air conditioned and is entered from a surrounding car park that forms part of the property.

Tenant Type

Major tenancy
Tenancies generally greater than 1,000 square metres (GLAR) that occupy the largest space of any single tenancy in the centre and are considered major attractions to the centre by customers.

Specialty store
A non-major retail shop in a centre that specialises in a narrow range of merchandise with an emphasis on product knowledge and customer service. Shops usually range up to 400 square metres.

For the purposes of this directory, we have only included chain specialties i.e. those with 10 or more outlets nationally.

Food Court
An area devoted to permanent retail tenancies/stalls offering a range of prepared foods for on-premises consumption and served by a common seating area with tables and chairs.

Kiosk
A light open fronted booth or cubicle from which products and services are sold. These are not permanent fixtures.

Method of Measurement

GLAR
Gross Lettable Area Retail as defined in the Property Council's Method of Measurement.

NLA
Net Lettable Area for use in relation to commercial office buildings as defined in the Property Council's Method of Measurement.

Total Centre Lettable Area
The aggregation of all lettable areas in a shopping centre - retail, commercial and miscellaneous.

Redevelopment

Refurbishment
The upgrading of a building's fabric and services with the aim of enhancing its ability to attract customers and/or compete effectively for tenants, improve rental growth, and maximise market value.

Extension
The construction and addition of significant GLAR to a centre.

Marketing

Moving Annual Turnover
Sales for the twelve month period ending a nominated month.

It is updated by adding the current month's sales to the MAT at the end of last month and subtracting sales from the corresponding month last year.