According to Calvert, the centre’s food experience was a bit “underdone” previously, and he views the expansion as the “missing piece of the puzzle” to the offering.

The goal was not to change the way the centre was positioned, but to create a complementary offering which would allow customers an opportunity to interact with the space in a different way.

“If anything [it’s going to] improve that overall shopping experience. We can broaden the amount of people we think will come to the centre, so we just see it as such a critical component of the success of the centre,” Calvert said.

“People really embrace the outdoors. There’s that sense of freedom, fresh air – we spend so much of our time inside… That’s why we tried to provide an outdoor food experience.”

According to Calvert, Harbour Town Outlet Centre attracts $420 million in annual turnover and “is the number one outlet in the country”.

DFO buoys Vicinity’s portfolio value

Direct Factory Outlet (DFO) saw an increase in value to the owner Vicinity Group’s portfolio as a result of an independent valuation of 38 of its 62 properties and an internal review of the rest, with a net valuation gain of 7.2 per cent over the six month period to December 31.

“Our DFO assets… contributed a valuation gain in the half, driven by strong income growth,” Vicinity Centres chief executive and managing director Grant Kelley said.

“Particularly DFO South Wharf (up $48.4 million, or 7.4 per cent) and DFO Homebush (up $34.3 million, or 7.1 per cent). Additionally, Vicinity’s investment in DFO Perth recorded a significant gain (up $30.7 million, or 40.4 per cent) following the successful trading performance of the centre since opening in October.”

The property group’s “super regional” category, which includes the Chadstone Shopping Centre in Melbourne, saw a 1.4 per cent growth in value equal to a $42 million gain – with Chadstone now worth $3.15 billion.

“The centre continues to grow strongly following recent development works incorporating a new Victoria’s Secret flagship store, the first in Australia, new luxury retailers and the introduction of further casual and destinating dining options,” Kelley said.

However, the group’s regional, sub-regional and neighbourhood centres fell in value over the period by 2.6 per cent, 1.6 per cent and 5.7 per cent respectively, dragging the total value of group’s portfolio down by 0.2 per cent – or $37 million – with the total value of the 62 property portfolio reaching $15.83 billion.