News & Discussion: Other Metropolitan Developments

[Rene]

A funeral home site is to become new Hungry Jack’s (South Brighton)
Story from Messenger Newspaper: Click here for details

[monotonehell]

A funeral home site is to become new Hungry Jack’s (South Brighton)
Story from Messenger Newspaper: Click here for details

Something something soylent green...

[Bacon]

Masters I believe (just a couple of doors down from Bunnings )

Will be interesting to see what happens with this site now that woolies has announced that it's dumping masters

[crawf]

^^

WOOLWORTHS has backed out of plans to create an additional near-300 jobs in South Australia, saying its under-construction Masters outlets at Noarlunga and Parafield will not be opened.

“Masters is committed to doing the right thing by our landlords and developers and we will be dealing with sites where construction is planned or underway on a case-by-case basis,” a Masters spokeswoman told The Advertiser.

“These stores - Noarlunga and Parafield - will not open,” she said.

The retail giant announced this morning it is finally pulling the plug on its failed Masters experiment nationally, placing the fate of more than 7000 employees at 63 stores nationally in limbo.

In SA, there are two Masters outlets at Mount Gambier and near the Adelaide Airport (next to the Ikea store).

[Goodsy]

^^

WOOLWORTHS has backed out of plans to create an additional near-300 jobs in South Australia, saying its under-construction Masters outlets at Noarlunga and Parafield will not be opened.

“Masters is committed to doing the right thing by our landlords and developers and we will be dealing with sites where construction is planned or underway on a case-by-case basis,” a Masters spokeswoman told The Advertiser.

“These stores - Noarlunga and Parafield - will not open,” she said.

The retail giant announced this morning it is finally pulling the plug on its failed Masters experiment nationally, placing the fate of more than 7000 employees at 63 stores nationally in limbo.

In SA, there are two Masters outlets at Mount Gambier and near the Adelaide Airport (next to the Ikea store).

I wonder what will be going in there then, they've done so much work to Main North road around there to accommodate the new shops

[neoballmon]

Noarlunga has the box almost completely built.. (not sure about fit out progress). wonder who would take such a large space, given Bunnings is down the road, and it's external from Colonnades so they'd be unlikely to want it.

Maybe we'll get a southern (and northern at Parafield) Costco sooner than expected.

[Patrick_27]

I'd imagine Home hardware or Mitre 10 will take over where they can..

[neoballmon]

Woolies own Home as well, and they're selling that off too.

http://www.ibtimes.com.au/australian-ha ... uk-1501115

In a move that was perhaps already expected, Woolworths (ASX:WOW) said it is exiting the home improvement industry and will let go of its 63 Masters Home Improvement stores, as well as its Home Timber & Hardware business.

And if memory serves me right, Mitre 10 had a few big box stores in SA but it did t work out for them either.

[how good is he]

My only thoughts are Costco could possibly buy the warehouses and make them work...thoughts? Is there any other business that would work buying the Masters sites? Storage unit complex?

[Goodsy]

My only thoughts are Costco could possibly buy the warehouses and make them work...thoughts? Is there any other business that would work buying the Masters sites? Storage unit complex?

They'll probably still be Masters, just owned by someone else

[how good is he]

Ha! If Woolies (market cap. $30billion) in partnership with Lowe's (market cap $70billion) so a $100billion company can't make Masters work, do you think anyone else can??

[Goodsy]

Ha! If Woolies (market cap. $30billion) in partnership with Lowe's (market cap $70billion) so a $100billion company can't make Masters work, do you think anyone else can??

A company that isn't focused on short term profit, Masters was working it just wasn't working fast enough for them.

[how good is he]

Are we talking about the same company? Masters has racked up $700m in losses in the short time it has been operating!

[Vormund]

My only thoughts are Costco could possibly buy the warehouses and make them work...thoughts? Is there any other business that would work buying the Masters sites? Storage unit complex?

I can see Costco eyeing up the development in Noarlunga as it was part of the Colonnades expansion (including Aldi) but I don't see them picking up the Parafield location (which would be ok for me as it's slightly closer to me than the Churchill Road location) That's probably the reason really, Just one down south and one north would suffice.

[Ben]

I think the one south could also potentially be an Ikea. They announced recently they were going to be opening a lot more stores and another 1 or 2 in SA.