TITLE: Unveiling ‘The New Glen’s’ $490 million transformation

Vicinity Centres and co-owners Perron Group have revealed plans for The Glen in Melbourne's south east to undergo a $490 million transformation to create 'The New Glen' - a local lifestyle and community destination where retail, dining and entertainment will deliver a premium customer experience.

An important milestone in the 50-year history of The Glen, the project was officially launched today by Victoria's Minister for Industry and Employment, the Honourable Wade Noonan MP.

The New Glen will come to fruition in a number of stages over three years, with the first stage to be unveiled in late 2017 and the transformation complete by early 2020.

With construction commencing this month, the redevelopment will create an estimated 2,350 jobs including 1,150 jobs through construction and 1,200 ongoing retail and hospitality roles at the completed centre.

Mr Angus McNaughton, CEO and Managing Director of Vicinity Centres said: 'Inspired by the sophisticated and diverse local community, it is time that The Glen evolves to meet the changing needs of our customers. The New Glen will elevate the customer experience to create a boutique destination where food, fashion and people come together.'

The New Glen will be expanded to approximately 78,000 square metres of gross lettable area and will include a fresh food market hall, two dining precincts, a Town Square, the latest format David Jones, new mini majors and international brands.

A fresh food market hall, anchored by a new Aldi, the latest format Woolworths, and a Coles supermarket, will also feature a wide selection of boutique food retailers. Designed to be a true gourmet experience, the market hall will offer foodies, families and the health-conscious the convenience of choice and variety, all on one level.

'Reflecting what today's customers want and a shifting preference towards more relaxed and casual dining, another attraction of the new centre will be two dining precincts,' Mr McNaughton added.

A contemporary Food Gallery, where diners will enjoy unobstructed views overlooking the Dandenong Ranges, will offer a selection of dining options.

An indoor-outdoor casual dining hub with restaurants and cafes spanning over two levels and overlooking a new Town Square will be open throughout the day and evening, offering a place for families and friends to come together to visit, connect and experience.

'With an eye for the latest fashion and lifestyle trends, we know our local community is looking for everyday quality as well as luxury,' Mr McNaughton added.

The New Glen will showcase international and Australian brands, and shoppers will also enjoy an exciting collection of everyday fashion and lifestyle stores.

'We will welcome the latest format David Jones offering the world's leading brands across fashion, beauty and homewares over two levels, a new premium fashion mall and on completion, The New Glen will be home to 240 select retailers,' Mr McNaughton added.

The centre's architecture, featuring a dynamic 'veil' effect that unifies the entire project, is inspired by international trends, and the iconic Springvale Road façade is designed to engage the local community.

Mr Ross Robertson, Perron Group's Chief Executive Officer said: 'This development is all about delivering a boutique and well-crafted design, inspired by our discerning local community. While increasing in size, our objective is to ensure The New Glen remains intimate, accessible and convenient, with a casual sophistication.'

Undergoing a complete transformation, the centre that exists today will be seamlessly integrated with the latest store fitouts, elegant amenities and high quality, contemporary finishes upgraded throughout.

The new centre has been designed for easy access and navigation through a 'race track' configuration with several cross malls to improve sight lines.

For further information please contact: