News & Discussion: CBD Retail

[Blimp]

I agree with you. At the start of my schooling/university years I would go and stock up at office works, and if I had the option I would have done this in the CBD. Always wondered why they havent set up shop in the CBD sooner.

[realstretts]

There are at-least ten (public and private) schools in the CBD, five university campuses (Flinders, City West, City East, Uni Adelaide and the universities in the Torrens Building), and plenty of smaller offices that don't make their orders on-line. Whilst a lot of these education institutions do offer study supplies via paper orders, a lot of parents choose to shop at stores where they can get things significantly cheaper. Sure, Target and Kmart have some range but not to the same degree as Officeworks. So if I sound eager or obsessed about the prospect of an Officeworks opening in the CBD it's because it'll be incredibly handy for me and many others! They'll make such a roaring trade, they'll wonder why they didn't set up shop in the city a lot sooner.

I would imagine any trade for an OW store in the CBD would cannibalize the trade of their Keswick/Trinity Gardens stores - this was a chief concern of another store that was to open in the Northern suburbs, taking business away from Holden Hill. This may be a concern for any new store openings. Also over the last few years they have undergone significant management and store restructuring in response to what I can only gather were declining revenue results. The products began transitioning to cheaply made rebadged officework brand stuff, losing a lot of the quality products they used to stock.

Source: I worked there for a number of years, and information is my own and not necessarily accurate.

[Ben]

This could be our best chance yet for a development to lock in some international brands.

Makris Group to sell City Cross shopping centre and 32 Grenfell St

RICHARD EVANS The Advertiser

THE multi-million dollar transformation of the Adelaide CBD is set to continue as a major redevelopment opportunity come onto the sales market.

The Makris Group is to sell its City Cross shopping centre and adjacent company HQ at 32 Grenfell St in what is expected to be one of 2016’s costliest deals.

Global property group JLL has been appointed to oversee the sale of the 10524sqm core retail and commercial floor space set on a landmark site of 6779sqm.

JLL’s national head of retail investments, Simon Rooney, said retail investment activity in SA reached a record last year at $708 million courtesy of the Myer Centre ($288 million) and Rundle Place ($400 million) sales.

“The Adelaide CBD retail market continues to perform strongly,” he said. “Developers will be attracted to City Cross due to its location with frontages to four key streets, its substantial holding income and the ability to unlock significant future value by creating a major mixed-use development subject to Development Assessment Commission (DAC) approval.

“Undertaking major redevelopment will also allow developers to create investment product in a market where opportunities to acquire existing assets are becoming more limited and where competition remains strong,” said Mr Rooney.

Subject to DAC approval, the development could comprise the existing retail, a 22,490 square metre commercial office tower, 316 residential apartments and a 56-bed student accommodation tower he said.

City Cross is a mixed use shopping and office complex, comprising Harvey Norman, A-Mart Sports, two mini majors, 55 specialties and kiosks and four office tenancies with a holding income of approximately $6,448,000.

[Waewick]

really happy about this to be honest.

I also hope any surplus money from the sale is being invested into North Adelaide.

[Ben]

Fast Pasta has closed in Rundle Place and Queenspark has moved to level 1 Adelaide Central plaza... i Imagine the beginning of the end for them... sure it might be cheaper rent but doesn't matter how cheap it is with no foot traffic.

All major centre now have a large number of vacancies.

[The Scooter Guy]

Fast Pasta has closed in Rundle Place and Queenspark has moved to level 1 Adelaide Central plaza... i Imagine the beginning of the end for them... sure it might be cheaper rent but doesn't matter how cheap it is with no foot traffic.

All major centre now have a large number of vacancies.

UPDATE: Fasta Pasta in Rundle Place is now becoming Slow Moe's Smokery!

[Ben]

http://youtu.be/RGbasJFrPU0

[monotonehell]

http://youtu.be/RGbasJFrPU0

OOOooooOOOooooohhh...

Damn and I was about to become vegan...

[Eurostar]

Don't know if this has been mentioned but I noticed today whilst having dinner in Adelaide Central Plaza that Subway has moved out and another Asian food place has opened in its place.

Also whilst looking on Seek today I noticed there is a few more Quebec Fries stores opening up soon in the suburbs.

[Nathan]

Either the imposters misjudged how long a long weekend is, or Miniso has been very short lived. Doors were shut today.

[Ben]

They were shut the other day as well but then open the next day. Not sure what is going on but it's always empty.

[Splashmo]

There's one at the Churchill Centre now apparently. Looks like they've swallowed this dubious company's blurb.

http://churchillcentre.com.au/store-finder/miniso/

[Brucetiki]

There's one at the Churchill Centre now apparently. Looks like they've swallowed this dubious company's blurb.

http://churchillcentre.com.au/store-finder/miniso/

For a company that is a knock of of Uni Qlo it looks nothing like a Uni Qlo, and doesn't even sell the same things as a Uni Qlo.

Looks like a run of the mill discount variety store.

[Patrick_27]

It looks as though Priceline have snapped up the Gawler Place Dick Smith site. There's a couple of signs in the window saying Priceline opening soon, weird thing is... The 'for lease' signs haven't been removed.

[Nathan]

It looks as though Priceline have snapped up the Gawler Place Dick Smith site. There's a couple of signs in the window saying Priceline opening soon, weird thing is... The 'for lease' signs haven't been removed.

Isn't there already a Priceline on Gawler Pl, just up from the post office?