Melbourne Central finally opened in 1991 but never became profitable for owner Kumagai Gumi, who sold 97.1 per cent to Australian property manager GPT Group for $408 million in 1999, retaining 2.9 per cent to write the asset off over 20 years. Kumugai abandoned this plan in 2001, selling their remaining share to GPT for $17 million. Daimaru closed their department store in 2002, paying five years' rent ($30 million) in return for abandoning their lease commitment which ended in 2016.