By Tom Watson
For over 25 years, Sunshine Marketplace has been a familiar sight for the residents of the area. Situated in a rapidly expanding community with a diverse population, the Marketplace has long been considered a hub for shopping and social interaction. However recent developments have painted a different picture of this once-bustling centre.
In an era where Sunshine is being touted as the next CBD of Melbourne, Sunshine Marketplace seems to have missed the memo. Officially opened in 1997, the Marketplace has undergone one redevelopment in its history; with that happening in 2004, it’s been a while between drinks.
The centre, once a beacon of commerce, is now described as run-down, neglected, dated, and soulless. Major national and international brands like JB HI FI, McDonald’s, Subway, and Muffin Break have all bid farewell to the Marketplace, citing high rental prices, declining foot traffic and security issues as primary reasons for their departure. This exodus has led to a significant drop in foot traffic and overall trade, with the centre struggling to maintain customers, attract new tenants and retain current tenants.
The impact of these vacancies goes beyond mere economic losses. Current retailers, who have invested their life savings in establishing businesses in Sunshine Marketplace, are feeling the squeeze of declining foot traffic and dwindling consumer interest. The lack of tenanted stores has created a negative perception of the centre, further driving customers away and exacerbating the existing challenges faced by businesses operating within its premises.
Despite having the backing of Vicinity Centres, one of the largest shopping centre consortiums in Australia, Sunshine Marketplace continues to struggle. A 50% stake in the Marketplace was acquired by Superannuation Group Aware Super 18 months ago, raising hopes for revitalization and reinvestment in the centre. However, progress seems to have stalled, leaving retailers and locals disillusioned about the centre’s future. Potential redeveloped plans have been floated over the years, however nothing has ever come of these discussions. Plans are in place and have been approved for a redevelopment which include 84 services apartments and a fresh and vibrant new entertainment precinct, however these plans have not been fulfilled.
Amidst rising cost of living pressures and economic uncertainties, Sunshine Marketplace stands at a crossroads. The potential for it to become a vibrant and thriving shopping centre that caters to the diverse needs of the community is evident. With the right investments and strategic planning, Sunshine Marketplace has the opportunity to reclaim its position as a vital hub in the area, serving as a focal point for social interaction, commerce, and community engagement.
Local community leaders, business owners, and stakeholders must come together to chart a new course for Sunshine Marketplace. It’s time to breathe new life into this once thriving Centre and fulfil the aspirations of a growing and dynamic community. With Sunshine Station being upgraded and Airport Rail coming as well, this would be a finishing touch to a suburb that will be able to shine brighter than it ever has before.
