The iconic Myer building in Launceston is finally getting a much-needed facelift, but here's the burning question: will Myer stick around to enjoy the transformation? This beloved department store has been a cornerstone of the city's retail scene for decades, but its future is now shrouded in uncertainty.
On February 12, the landmark tenancy at 108-118 Brisbane Street was unexpectedly listed as a leasing opportunity, sending waves of speculation through the community. And this is the part most people miss: the listing doesn’t offer the entire building for lease—only the basement, ground floor, and level one. So, what does this mean for Myer’s long-term presence in Launceston?
The building’s redevelopment plans promise a “sensitive refurbishment” to restore its former glory, complete with modernistic renders that hint at a brighter future. Melbourne-based leasing agent Jake Beckwith of Colliers explains that this move reflects a renewed interest in Northern Tasmanian retail. But here’s where it gets controversial: while the building’s prime CBD location and existing customer base are undeniable draws, Myer’s footprint has significantly shrunk over the years. Once occupying every level, including a café on level six, the store now operates only from the basement, ground floor, and levels one to four. Is this downsizing a sign of things to come, or merely a strategic adjustment?
Myer has been a cherished part of the Launceston mall since 1966, with the building owned by Melbourne-based Focus Group Investments since the 1980s. In a statement, Myer confirmed it’s in ongoing discussions with the landlord about staying put, with its current lease running until 2027. However, the building’s recent struggles—roof leaks, escalator breakdowns—highlight the challenges of maintaining an aging structure. Does this refurbishment signal a new chapter for Myer, or is it a last-ditch effort to revitalize a fading icon?
Meanwhile, the broader mall is experiencing a shift, with national and specialty retailers like Mecca setting up shop. Leasing agent Fletcher Seymour notes that this trend reinforces the mall’s role as Launceston’s primary retail hub. But as the city evolves, the question remains: will Myer adapt and thrive, or become a relic of the past?
What do you think? Is Myer’s downsizing a strategic move or a sign of decline? Share your thoughts in the comments—we’d love to hear your take on this evolving story.
