Myer has signed a deal to relocate its support office, reducing its current location by 12,500sqm.
The deal is part of a broader strategy to reduce space across the portfolio over closing stores.
Its current support office location in Collins Street is double the size at approximately 25,000sqm.
The department store will move into its new location, at 1000 La Trobe Street Docklands, in the latter half of 2021.
Myer has reduced space at its current support office by 12,000sqm since 2017.
The move is part of a broader strategy to optimise Myer’s footprint.
Since the arrival of new CEO John King in June 2018, the department store has reduced space under its ‘Customer First Plan’.
This includes the reduction of Myer’s Cairns store from two floors to one floor.
As part of the strategy, new and exclusive brands will be introduced to the fully renovated space.
The Belconnen store will remain open and reduced to two refurbished stores with a similar exclusive brand mix.
In May 2020, Myer will also exit Level 4 at Emporium in Melbourne, which adjoins its flagship Bourke Street store.
Speaking on the relocation of its support centre, King said optimisation will remain a priority.
“This is a great outcome for Myer shareholders with improved commercial terms and a more appropriately sized head office.
“It is also a great outcome for our team members with a Support Office that has leading technology, is energy efficient, and provides a modern office environment in which to work.”
The new space will promote open plan working, break out areas, support spaces and vertical floor integrations.