Myer’s plans to open its Green Hills store between July 2013 and June 2014 are under a cloud with stage two of the Stockland development unlikely to start in time.
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Stockland defended the apparent delay on stage two yesterday, following the release of its financial report, stating the project was still on track.
“We’ve said in our latest financial results that works are in our program for the next two years,” Stockland spokeswoman Lucy Wilson said.
“We’ve never said it would start in 2013.”
Myer released its indicative opening dates in March 2011 for a 12,000 square metre store as part of the $350 million Stockland development.
The second stage plans are for an additional 130 specialty shops and 1500 extra car parking spaces.
“It’s good that the council is interested in seeing these things, but there are many factors behind it,” Ms Wilson said.
“We have to make sure there are three things in place; that the markets are right, that there is the capital to carry out the works, and to have anchored tenants.
“We have anchored them at Green Hills, which is good.”
However, Ms Wilson defended suggestions Stockland was finding the retail climate tough and had slowed the centre’s expansion.
“Our retail business is doing quite well,” she said.
“And while we sold a lot of residential property this past financial year the result would have been better if our margins weren’t down.”
Maitland Business Chamber president Bob Kerr said the doldrums weren’t insurmountable.
“It’s still pretty tough but there are opportunities out there,” he said.
“Just look at what the owners of Pender Place did.
“They now have a vibrant little shopping centre.”
The Mercury contacted Myer for comment.
