SCENTRE : AND DAVID JONES ANNOUNCE THREE-STORE DEAL IN PERTH

22 February 2017

Scentre Group and David Jones today announced three new David Jones stores will open in Westfield shopping centres in Perth over the next three years as part of Scentre's development pipeline and David Jones' further expansion into the Perth market.

Scentre Group CEO Peter Allen said: 'This is an exciting time for our business in Western Australia. We're making a significant investment in this market as we embark on redeveloping Westfield Carousel, Innaloo and Whitford City. Perth has long been underserved by quality regional centres and these projects - each in strategic locations across the city - will set a new standard of retail in this market.

The inclusion of David Jones at all three Westfield centres in Perth will underpin the exceptional retail mix being curated in these locations.'

David Jones Chief Executive Officer John Dixon said: 'Perth is a vibrant and growing capital city and we are excited to be expanding our store network here. David Jones has previously been underrepresented in this market and the redevelopment of Westfield's portfolio provides a unique opportunity to expand our offering into three high quality centres. These new stores will create approximately 300 new specialist retail roles, while delivering our world class shopping experience to more Western Australians.'

Westfield Carousel redevelopment underway

The Group also announced it would commence work on the $350 million redevelopment at Westfield Carousel in February 2017, which will include a 'new look' David Jones department store and 70 specialty retail outlets on completion in the third quarter of 2018.

The project at Westfield Carousel will see the centre transform into the ultimate retail, dining, leisure and entertainment venue, expanding the centre from its current size of 82,000 square metres (sqm) to approximately 110,000sqm.

The David Jones department store will anchor a new fashion mall that will be home to more than 60 international and local fashion brands, and an open-air leisure, lifestyle and entertainment precinct will also be created on the centre's rooftop with a fully refurbished 10-screen Hoyts cinema complex and 12 restaurants providing an unrivalled international dining offer for the local community.

On completion the centre will also feature a new multi-deck carpark offering valet parking.

Scentre Group's other projects in Perth include the approximately $600 million project at Westfield Innaloo, which will see the centre almost double in size with the addition of David Jones, international mini-majors, 100 new stores and a new lifestyle and entertainment precinct with restaurants and Western Australia's best-performing cinema complex - a 14-screen Event Cinemas - which will relocate to the centre from its existing location in Innaloo.

The first stage of Westfield Whitford City is currently underway, comprising a new lifestyle and entertainment precinct with ten restaurants and a new eight-screen Event Cinemas complex. This project is currently under construction and due for completion in the third quarter of 2017. The addition of David Jones in the second stage redevelopment will contribute to a major repositioning of the centre.

David Jones to bring world class retail offering to Perth

The three new Perth stores at Westfield Carousel, Innaloo and Whitford City will feature the same internationally-awarded bold and contemporary design most recently featured at Pacific Fair on Queensland's Gold Coast. Central to this design is the enhancement of the customer experience with inspiring spaces and dynamic visual merchandising.

The stores will offer an unrivalled mix of fashion, beauty, accessories and home, with a product assortment for each curated specifically to suit the local customer and complimented by David Jones' range of premium services.

For more information please contact:

Scentre Group Head of Corporate Affairs: Julia Clarke + 61 2 9358 7426

David Jones & Country Road Group, Group Corporate Communications Manager: Angus Urquhart +61 437 518 713

David Jones Corporate and Consumer Media Manager: Jessica Makin +61 409 812 506