Fast food giant McDonald’s has not renewed the lease on a central Sydney outlet as part of a strategic repositioning in the city.
The 244 George Street outlet on the corner of Bridge Street has now closed, and the company’s focus is on redeveloping the flagship store at the Circular Quay Gateway centre.
Josh Bannister, the director of development for McDonald’s Australia, said the company is on the lookout for new sites in upcoming retail developments around the city.
McDonald’s expansion method is through building ownership rather than leasing, but this is not always viable in capital cities, he said. The burger business expects to open 30 stores each year – right now there are 945 McDonald’s outlets nationally.
The SMH points out that while the George and Bridge Street outlet has closed, Neil Perry’s Burger Project has been a big pull at the other end of the street in World Square. In response to changing customer tastes, McDonald’s has diversified its menu introducing gourmet burgers, salads and most recently a customised burger concept into Australia and New Zealand.