Roselands Shopping Centre: Myer Closure, $55m Redevelopment

The centre that first opened as Australia’s pioneering air-conditioned shopping destination in the mid-1960s is now undergoing its most significant transformation yet. Myer confirmed in February 2026 it will shut its Roselands location by 31 July 2026, clearing the way for a major redevelopment backed by HomeCo and property owners HMC Capital and JY Group, with figures ranging from $55 million to more than $100 million depending on which industry report you read.

Opened: 1965 ·
Current Owner: HomeCo ·
Redevelopment Cost: $55 million ·
Myer Closure: 31 July 2026 ·
Location: Roselands, Sydney

What’s happening to Roselands Shopping Centre?

Roselands Shopping Centre is mid-swing through its most consequential chapter since the $90 million refresh of 2019. In February 2026, two announcements landed on the same day: Myer confirmed it would not renew its lease and would close by 31 July 2026, and HomeCo simultaneously lodged a development application with Canterbury-Bankstown City Council for a major revamp of the centre. The two moves are directly linked — the department store’s departure is what makes the redevelopment possible in the first place.

Recent ownership changes

HomeCo now operates Roselands under a fresh brand identity, having taken over from the Centro-era branding. The centre is owned by HMC Capital and JY Group, who brought in HomeCo as operator to steer the next phase of the asset. That partnership is now driving the redevelopment push, with HomeCo filing the DA on behalf of the owners.

Upcoming store closures

The Myer Roselands closure is not an isolated event. The retailer has been trimming its footprint across the country, having shuttered stores in Melbourne, Brisbane, and Sydney previously as part of a broader network streamlining effort. A Myer spokesperson said the closures reflect “a firm foundation for growth” by ensuring the right store network is efficient and sustainable. At Roselands, the non-renewal of the lease means the store will trade through to the end of July 2026 before clearing out.

The centre will continue trading normally throughout the DA process with no immediate impacts on other tenants, according to Shopping Centre News.

Why is Myer Roselands closing?

Myer’s decision not to renew at Roselands comes down to the numbers. The retailer has been vocal about pruning underperforming locations to concentrate resources on stores that hit profitability targets. A Myer spokesman stated the closure is part of the company’s strategy to streamline its store network and focus on profitable locations. The Roselands store — which opened originally as Grace Bros in 1965 and carried the Myer name from 2004 onward — has apparently not met those thresholds.

Global retailer replacement

What’s replacing the Myer footprint is the bigger story. Rather than leaving a gaping hole, HomeCo plans to slot in a 16,000 m² global supermarket operator at the heart of the redevelopment. Industry sources cited by Shopping Centre News suggest the new tenant will be a major international player, though no name has been officially confirmed as of the February 2026 announcement. The shift from a traditional department store to a large-format grocery anchor reflects a broader pattern in Australian retail, where supermarkets have increasingly become the drawcard that keeps shopping centres viable.

Retail industry shifts

Myer is not alone in its recalibration. While the Roselands store is closing, Myer is simultaneously pouring resources into its Morley Galleria store in Perth, with a $350 million centre redevelopment underway and Myer’s own upgrade works starting in May 2026, completing by the end of October 2026. The contrast is telling: one store closes in Sydney’s south-west while another receives a major injection in Western Australia. The message from Myer is consistent — the right store network looks different today than it did a decade ago, and the company is willing to cut anchors if the location does not perform.

The closure is part of the company’s strategy to streamline its store network and focus on profitable locations.

— Myer spokesperson (The Greek Herald retail report)

Who bought Roselands Shopping Centre?

Roselands is owned by HMC Capital and JY Group, who acquired the asset as part of a broader shopping centre portfolio play. HomeCo was brought in as the operator — effectively the brand running the centre day-to-day — and it is HomeCo that has lodged the redevelopment DA with council. The distinction matters: the owners hold the asset, HomeCo runs it, and both are aligned on the redevelopment push.

HomeCo acquisition details

HomeCo rebranded the former Centro Roselands to HomeCo Roselands and has positioned itself as the community-facing face of the centre’s next chapter. The company lodged its DA with Canterbury-Bankstown City Council in February 2026, formally kicking off the planning process for the overhaul. HomeCo’s own statement said the move was designed to invest in the local community and preserve the centre’s role in south-western Sydney for decades to come.

Previous Centro branding

Before HomeCo took over, Roselands traded as Centro Roselands under the Viva Leisure group’s banner. The Centro name was common across Australian shopping centres for years before the branding shift. Wikipedia notes the centre was previously known as Centro Roselands, and the HomeCo rebrand signals a deliberate break from that era.

Roselands shopping centre redevelopment

The redevelopment proposed for Roselands is substantial by any measure. The DA lodged with Canterbury-Bankstown City Council outlines an expansion of total floor space to 81,000 m² — up significantly from current levels — alongside 470 new car parking spaces and upgrades to the Roselands Drive and Roselands Avenue intersection, including a new roundabout to handle increased traffic.

Modernisation plans

Central to the proposal is the 16,000 m² global supermarket that would replace the Myer building. Beyond that anchor, the plans include a new specialised retail level, fresh common areas, and a reimagined layout aimed at creating what HomeCo calls a convenience-led precinct. The redevelopment is pitched explicitly as preserving the community spirit that has defined Roselands for 60 years — a line that appears in statements from HMC Capital’s real estate managing director, Sid Sharma.

Our goal is to ensure that same spirit of Roselands is preserved, and will continue to serve the community for another 60 years and beyond.

— Sid Sharma, HMC Capital real estate managing director (The Greek Herald development report)

Timeline and impacts

The DA was lodged in February 2026 and is currently before council — there is no confirmed timeline for approval or construction start. The centre will continue trading normally during the assessment period, and no other tenants face immediate changes. Once the Myer store vacates by July 2026, the physical redevelopment of that space can begin in earnest. Industry projections cited by Shopping Centre News suggest the construction phase will create approximately 200 construction jobs, with around 350 retail positions added once the new tenancy is operational — roughly 550 jobs in total.

Roselands shopping centre shops

Roselands has long served as a one-stop shop for south-western Sydney households, anchored by a mix of discount department stores and supermarkets that pull in consistent foot traffic. The current tenant lineup reflects that positioning, with multiple national chains covering groceries, homewares, and everyday essentials.

Major stores like Kmart

Kmart is among the confirmed anchor tenants at Roselands, sitting alongside Woolworths and Coles in the supermarket category. ALDI also operates at the centre, giving shoppers a full range of grocery options across the price spectrum. These tenants are not affected by the Myer closure — they will remain operational throughout the redevelopment phase and beyond.

Specialty shops list

Beyond the anchors, Roselands hosts a range of specialty retailers covering fashion, food, services, and home goods. The 2019 refurbishment added 34 new tenancies to the fresh food precinct, expanding the centre’s food and dining offer. A full shop directory is available on the centre’s website, though the post-redevelopment tenant mix has not yet been finalised pending DA approval and the supermarket deal.

The redevelopment separates Roselands from many centres in Sydney’s south-west, where smaller neighbourhood malls often languish without investment. HomeCo’s willingness to lodge a formal DA — rather than just announce plans — signals genuine intent, though the cost discrepancy between sources means the true scope remains contested until council signs off.

Related reading: David Jones Macquarie Centre

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