Greensborough Plaza
Retailer / private label
UnclaimedA major regional shopping centre in Greensborough, Victoria, approximately 20 kilometres north-east of central Melbourne.
Last updated August 25, 2026
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Overview
Greensborough Plaza is a regional shopping centre in the Melbourne suburb of Greensborough, Victoria, Australia. It serves the north-eastern metropolitan area with a combination of department-store-style retail, supermarkets, discount and specialty shops, services, dining, entertainment and transport connections. The centre is known locally by the informal name “Greensy” and has more than 170 specialty stores alongside major and mini-major tenants including Coles, Aldi, Kmart, Target, Chemist Warehouse, JB Hi-Fi, The Reject Shop, Rebel Sport and Anytime Fitness. Its entertainment and food offering includes a Hoyts cinema complex and a casual dining precinct. The centre opened in 1978 as Greensborough Shopping Centre. It was renamed Valley Central around 1990 and adopted the Greensborough Plaza name in 1995. Its development history reflects the changing structure of Australian suburban retail: an early shopping-centre format expanded through major renovations, new anchor tenants, supermarket investment, large-format specialty retail and a stronger emphasis on food, family amenities and leisure. A 1990 renovation was followed by a substantial 1996 redevelopment that added a 13,000-square-metre Myer department store. The Myer project was notable because it represented the first new Myer store opened in Victoria in more than two decades. The department-store strategy soon changed. In 1997, plans were announced to convert Myer into a Target Home store after research indicated that shoppers were travelling to larger Myer outlets at Northland in Preston and Doncaster. The proposed conversion generated considerable concern among existing tenants, some of whom said their leases and rents had been negotiated on the expectation that Myer would remain an anchor. Myer closed in May 1998 and Target subsequently occupied the space. The location later became one of Target’s largest Australian stores and, by 2021, was described as the chain’s largest. The centre also experimented with larger retail formats. Harvey Norman and Rebel Sport began operating there in 1998 in stores designed as new, larger concepts for the respective retailers. Over time, the tenant mix changed as former businesses such as Waltons, Stan Cash, RM Williams, McEwans, Venture, Jewel Food Barn, Franklins No Frills, Dick Smith and World 4 Kids departed or were replaced. A further redevelopment program began in 2011. Glass lifts were installed in the centre court, while Coles underwent a major refurbishment and reopened in 2012. Aldi and JB Hi-Fi opened on Level 1 in July 2011. In 2014, much of the interior was modernised through new lighting, painting and seating. A children’s precinct with play facilities, new shops and amenities opened in late 2015. The following year, a casual dining area was added near Hoyts, with restaurants including Schnitz and The Groove Train. Hoyts was refurbished with recliner seating and updated interiors, and a Ben & Jerry’s outlet opened near the cinema entrance. The centre’s more recent works included a substantial renovation of Level 1, involving new lighting, seating and store openings or relocations. Chemist Warehouse and Sculli Bros. were among the businesses affected by the reconfiguration. Greensborough Plaza provides approximately 2,815 parking spaces and is connected to local bus services, SmartBus routes, taxis and nearby Greensborough railway station. Ownership and management have changed several times: Lendlease managed the centre during earlier ownership arrangements involving General Property Trust, MLC, State Super and the Australian Prime Property Fund; the property was sold to Blackstone in 2013 and to 151 Property in 2022.
History
Greensborough Plaza began operations in 1978 as Greensborough Shopping Centre in the north-eastern Melbourne suburb of Greensborough. The centre developed as a regional suburban retail destination, drawing customers from surrounding communities and combining supermarket, department-store, specialty and service retail. It underwent an early major renovation in 1990 and was known for a period as Valley Central. The Greensborough Plaza name was adopted in 1995. A major redevelopment in 1996 added a 13,000-square-metre Myer department store. The project was significant in the Victorian retail market because it was described as Myer's first new Victorian store in more than 20 years. The department store did not, however, retain its position for long. In September 1997, plans were announced to convert it into a Target Home store at a reported project cost of A$5 million. Research conducted by the centre and Coles Myer indicated that many customers preferred larger Myer stores at Northland and Doncaster, while a Target format was considered more suitable for the centre's customer base. The proposed change produced a dispute with some existing retailers. They argued that they had committed to the centre, and in some cases paid higher rents, because Myer was expected to remain an anchor tenant. A merchant group was formed in March 1998 to represent affected retailers in negotiations with Lendlease, the then manager. Myer closed on 17 May 1998, and Target subsequently opened in the former department-store space. The store became associated with the Target Home concept, which was later discontinued as Target returned to its standard branding. By 2021, Target Greensborough was described as the largest Target store in Australia. The centre continued to change its tenant mix and format. Harvey Norman and Rebel Sport opened in 1998 in large stores designed as new concepts for those retailers. Other former tenants over the years included Waltons, Stan Cash, RM Williams, McEwans, Venture, Jewel Food Barn, Franklins No Frills, Dick Smith and World 4 Kids. These departures reflect the continuing turnover of department-store, electronics, homewares and discount retail formats in Australian shopping centres. A new redevelopment cycle began in 2011. Stage one included the installation of glass lifts in the centre court. Coles received a major refurbishment and reopened in 2012. Aldi and JB Hi-Fi joined the Level 1 tenant mix in July 2011. Most of the interior was refreshed in 2014, with updated lighting, painted walls and new seating. A children's precinct opened near the Main Street entrance in late 2015, adding a play area, shops and amenities. In late 2016, Greensborough Plaza strengthened its food and entertainment offer by opening a casual dining precinct on Level 3 near Hoyts. Six restaurants were introduced, including Schnitz and The Groove Train. Hoyts was modernised with recliner seats in all cinemas and other improvements, while a Ben & Jerry's outlet occupied the former ticket-box area near the cinema entrance. Later works concentrated on Level 1, where the centre added new lighting and seating and reorganised a number of stores, including Sculli Bros. and Chemist Warehouse. Ownership has also evolved. During earlier periods, the centre was associated with General Property Trust and later MLC, with Lendlease managing the property. State Super and the Australian Prime Property Fund were joint owners during the 1990s and 2000s. In 2000, MLC sold its interest to SAS Trustee Corporation, commonly known as State Super, in an A$80 million transaction. In 2005, Australian Prime Property Fund bought State Super's 50 percent stake for A$160 million, becoming sole owner. Blackstone acquired the centre in July 2013, and 151 Property acquired it in 2022. The active centre now combines major supermarkets and retailers with more than 170 specialty stores, dining, cinema entertainment, parking and public-transport access.
- 2022
151 Property acquisition
[1]151 Property acquires Greensborough Plaza.
- 2016
Dining and cinema precinct upgraded
[1]A casual dining precinct opens near Hoyts, while the cinema complex receives a major refurbishment.
- 2015
Children's precinct opens
[1]A children's play and amenities precinct opens near the Main Street entrance.
- 2013
Blackstone acquisition
[1]Blackstone purchases Greensborough Plaza.
- 2012
Coles refurbishment completed
[1]The refurbished Coles supermarket reopens.
- 2011
Redevelopment program begins
[1]Glass lifts are installed and Aldi and JB Hi-Fi open during the first stage of a new redevelopment cycle.
- 2005
Australian Prime Property Fund becomes sole owner
[1]Australian Prime Property Fund completes the purchase of State Super's 50 percent share for A$160 million.
- 2000
MLC stake sold to State Super
[1]MLC sells its interest in the centre to SAS Trustee Corporation, also known as State Super, for A$80 million.
- 1998
Target replaces Myer
[1]Myer closes and Target later opens in the former department-store premises.
- 1996
Myer department store added
[1]A 13,000-square-metre Myer store opens as part of a major redevelopment.
Products and positioning
A large suburban regional shopping centre combining everyday grocery and discount shopping with major retailers, specialty stores, dining, family amenities and cinema entertainment for Melbourne's north-eastern suburbs.
Grocery
Supermarket and grocery retail
Greensborough Plaza's grocery offer is anchored by Coles and Aldi. These supermarkets provide everyday food, household essentials and routine shopping services for the surrounding residential catchment. Coles received a significant refurbishment during the redevelopment program that began in 2011 and reopened in 2012.
General merchandise · 1998
Department and discount retail
The centre includes major general-merchandise retailers such as Kmart and Target. Target occupies the premises formerly used by Myer after the department store closed in 1998. The Target location became one of the chain's largest Australian stores and was described in 2021 as its largest.
Electronics · 2011
Consumer electronics and technology
JB Hi-Fi provides consumer electronics, entertainment media, appliances and related technology products. It opened at Greensborough Plaza in July 2011 and later expanded into the space vacated by Harvey Norman in 2015.
Health and services
Health, beauty and personal services
The centre's health and personal-services mix includes Chemist Warehouse and fitness operator Anytime Fitness, supported by numerous specialty retailers and service businesses. Chemist Warehouse was among the tenants relocated or reconfigured during later Level 1 redevelopment works.
Entertainment and dining · 2016
Dining and cinema entertainment
A food and entertainment precinct on Level 3 includes casual restaurants such as Schnitz and The Groove Train, alongside the Hoyts cinema complex. Hoyts was modernised in 2016 with recliner seating across its cinemas, and a Ben & Jerry's shop opened near the cinema entrance.
Brand decisions
2011
Begin staged centre redevelopmentStrategyBackground
The centre required further modernisation and tenant-mix development after earlier renovations and ownership changes.
Action taken
A staged program began with centre-court glass lifts, a major Coles refurbishment and new Aldi and JB Hi-Fi stores.
Aftermath
The program continued with interior upgrades, a children's precinct, new dining facilities, cinema improvements and later Level 1 reconfiguration.
1997
Convert Myer to Target HomeStrategyBackground
Centre and Coles Myer research indicated that customers were choosing larger Myer stores in nearby suburbs and that a Target format was better aligned with the local market.
Action taken
Management announced a planned A$5 million conversion of the Myer premises into the first Target Home concept store, with completion targeted for February 1998.
Aftermath
The decision provoked objections from some tenants who believed their leasing arrangements and rents reflected the presence of Myer. Myer closed on 17 May 1998, and Target subsequently opened in the premises.
Conversion cost. A$5 million (1997 announcement)
Sources2 sources
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