Stockland has secured Myer as a major tenant in its Townsville complex, a $230m development on Ross River Road, Aitkenvale, Queensland.
Myer will take a 20-year lease on 10,000sqm of the 32,600sqm centre, a move that has encouraged Stockland to invest more than $100m in centre upgrades.
Stockland Retail chief executive John Schroder said he expected the redevelopment to be completed early in 2009, with Myer able to move in by June 2009.
Stockland Townsville already has several major retailers and large chain stores as tenants, including Big W, Woolworths, Rebel Sports, Portmans and Sportsgirl.
The Townsville complex is Stockland’s largest Queensland centre and the third largest of its national portfolio.
The arrival of Myer, which now has 10 stores in Queensland, is the first major department store to enter the Townsville retail market since the departure of David Jones from the city centre in 1993.