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Lansdowne Centre: Richmond’s Community Shopping Centre

news article

Lansdowne Centre is a major shopping mall located in the heart of Richmond BC. With 605,000 square feet of enclosed space, more than 130 retailers including Winners, JYSK, Toys R Us, Best Buy and Home Sense, plus seven full service restaurants in addition to the food court, the mall is a highly popular destination.

A great deal has changed however since Lansdowne Centre opened its doors in 1977. The extraordinary growth of Richmond has given rise to a new vision for the mall location—a comprehensive mixed-use redevelopment that will significantly expand what is now considered to be the downtown core.

The exciting new plans will include 24 mid-rise towers with retail, a rapid transit station, residential, office and a civic plaza totalling more than 6 million square feet of space. Construction will begin in 2019 with the current mall closing in 2025.

Meeting the unique challenge

With the closure of the existing mall on the horizon, Colliers had the unique challenge of leasing space, maintaining traffic, ensuring tenant well-being and maximizing client revenue.

Loblaw Companies, who acquired T&T Supermarket in 2009, were given the opportunity to rent the large vacant space formerly occupied by Target.

While many companies were approached, it was a difficult proposition for most given that it was a short-term lease and the capital investment required by any new tenant. For T&T however, the location was a perfect fit for their multicultural grocery store and has had a dramatic impact on the shopping centre.

Success by the numbers

Through innovative leasing and management solutions, Colliers has achieved significant, measurable results.

  • Increased sales per square foot by 71% over 2010
  • Generated 16% more annual traffic since 2010
  • 12.6 million spent by T&T on their new flagship location
  • Secured 217,370 square feet of new and renewed leases over 2 years
  • Achieved greater community engagement, dwell time and loyalty
  • Implemented year-round community, family and cultural events program
  • Reinforced brand position as Richmond’s community shopping centre

Creating the win-win

The Lansdowne Centre location is T&T’s flagship store with offerings not typically found outside of Hong Kong—on opening day customers were lined up to get into the newly renovated 75,000 square foot space!

With a spectacular transformation about to take place, Lansdowne Centre remains a major community attraction, and was recently inducted into the Richmond Chamber of Commerce Hall of Fame. Not bad considering the best is yet to come!