The long-expected makeover of former Masters stores is rolling out just as the Amazon wave hits Australian retailing.
Eight former Masters stores in New South Wales, Victoria and Queensland will be open by year's end, according to Home Consortium, the group who purchased the defunct Masters warehouses from Woolworths for $830 million.
Several of the new look super-sheds with internal shopping malls have started operating.
A former Masters on Melbourne's outskirts in South Morang, two in NSW (Rutherford and Penrith) and another in North Lakes Queensland have been revamped and opened to the public.
Home revealed on Thursday that tenants across the centres include Amart Furniture, Toys'R'us, Snooze, Repco, Rebel, and Nick Scali.
The Home Consortium group initially suggested it would have 10 stores repurposed and open in time for Christmas, but two malls were delayed by lease negotiations and fitouts.
The repurposing of at least 40 former Masters stores into shopping malls has promised to be one of the biggest shake-ups in big box retailing in years, but it is set to be overshadowed by the arrival of Amazon this Friday.
The retail sector is flush with speculation the US-based retailing giant will soft launch its retail site on Thursday ahead of a full launch Friday.
Amazon's pre-Christmas raid on Australian shoppers is expected to rattle local retailers and significantly change consumer behaviour.
It would be timed to coincide with the Black Friday sales in the US.
The other Home Consortium malls expected to open soon include Pakenham in Melbourne, Marsden Park in NSW, and Tingalpa and Toowoomba in Queensland.
The consortium's chairman David Di Pilla said thousands of customers had already shopped at the South Morang and Rutherford malls.
"Our retailers across the eight centres that will open before the end of the year are gearing up to offer grand opening specials and promotions as we head into the holiday season," Mr Di Pilla said.
Mr Di Pilla said the Home Consortium malls were a "different concept and in a different part of the market" to Amazon.
"We don't have a lot of exposure to businesses that potentially will be impacted by Amazon," he said.
The convenience, car parking, location near growth areas or established populations and competitive rents were making the centres an attractive retail proposition for tenants, he said.
The multi-million dollar deal with Woolworths was only finalised in October when Woolworths told shareholders it had finally sold its ex-Masters properties to Home Consortium which is backed by Spotlight and Anaconda rich listers Zac Fried and Morry Fraid and Chemist Warehouse duo Mario Verrocchi and Jack Gance.
Under the arrangement, the group scooped up 61 ex-Masters stores and 21 development sites.
The lack of final confirmation had not stopped Home Consortium stitching up multiple side deals to offload unwanted sites and sign long-term leases on others with desirable tenants since the deal was first mooted in 2016.
