News & Discussion: CBD Retail

All high-rise, low-rise and street developments in the Adelaide and North Adelaide areas.
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nath91
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Re: News & Discussion: CBD Retail

#3136 Post by nath91 » Mon Sep 23, 2019 4:52 pm

Seriously what a fkn wasted opportunity for an iconic retail space at the entrance to the Mall.

I feel like Rundle Mall Management Authority should have some kind of power and say into appropriate precincting and retail mix.

Who owns the Unihouse building?

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Re: News & Discussion: CBD Retail

#3137 Post by SRW » Mon Sep 23, 2019 5:23 pm

nath91 wrote:
Mon Sep 23, 2019 4:52 pm
Seriously what a fkn wasted opportunity for an iconic retail space at the entrance to the Mall.

I feel like Rundle Mall Management Authority should have some kind of power and say into appropriate precincting and retail mix.

Who owns the Unihouse building?
It's definitely a gateway location but I wouldn't say it's an iconic space. The building needs to be demolished, but like the AdamNet building on the corner of Waymouth & King William I think it's actually strata-titled so it'll take some effort before it can be bought up and redeveloped.
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Re: News & Discussion: CBD Retail

#3138 Post by Patrick_27 » Tue Sep 24, 2019 12:01 am

nath91 wrote:
Mon Sep 23, 2019 4:52 pm
Seriously what a fkn wasted opportunity for an iconic retail space at the entrance to the Mall.

I feel like Rundle Mall Management Authority should have some kind of power and say into appropriate precincting and retail mix.

Who owns the Unihouse building?
UniSA own it, I believe. Here's hoping they do an assets dump like UniAdelaide did a couple of years ago and the site is reworked...

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Re: News & Discussion: CBD Retail

#3139 Post by SRW » Tue Sep 24, 2019 12:25 am

It's definitely community titled. There's a couple of the flats for sale currently.
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Re: News & Discussion: CBD Retail

#3140 Post by Abwolf » Tue Sep 24, 2019 6:23 am

UniSA have nothing to do with it. The logo on the building was for exposure only and has deteriorated over the years.

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Re: News & Discussion: CBD Retail

#3141 Post by Llessur2002 » Thu Sep 26, 2019 11:05 am

Eating In Italy (the cafe on the ground floor of the Myer Centre that fronts onto North Terrrace) closes tomorrow. After five years I need to find somewhere else for my morning coffee :(

The fit-out is a little outdated in there (although I secretly quite like that - it's like a little trip back to the 1990s) but the staff have always been incredibly friendly.

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Re: News & Discussion: CBD Retail

#3142 Post by The Scooter Guy » Sat Sep 28, 2019 2:29 pm

Llessur2002 wrote:
Thu Sep 26, 2019 11:05 am
Eating In Italy (the cafe on the ground floor of the Myer Centre that fronts onto North Terrrace) closes tomorrow. After five years I need to find somewhere else for my morning coffee :(

The fit-out is a little outdated in there (although I secretly quite like that - it's like a little trip back to the 1990s) but the staff have always been incredibly friendly.
It previously operated as Gloria Jeans.
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Re: News & Discussion: CBD Retail

#3143 Post by Norman » Sat Sep 28, 2019 7:05 pm

The former convenience store at the corner of Waymouth and King William Street will become a Turkish Doner Kebab store. A good move, there are very few of these in this part of the city.

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Re: News & Discussion: CBD Retail

#3144 Post by nath91 » Sat Oct 05, 2019 3:14 pm

Sephora opening 9am Thursday 10th October.

Rundle Mall becoming a great destination with key retailers, went through it yesterday it was buzzing, has a really good feel about it.

Few points for discussion

- Noticed the old Telstra store at the city cross entrance is completely gutted to a shell, wonder whats planned. (*Edit: Realise this has been mentioned in earlier posts)

- The old Globalise (former Regency Theatre) has a under contract sign at the front.

- Uniqlo, JD Sports and Zara need a presence - I recall someone saying Woolworths were interested in leaving the mall, could be a good spot for Zara.

- Someone I know associated with Rundle Place has said Harris Scarfe is doing terribly, could see a big vacancy there one day. Makes me think HS probably should have never lost its mall street frontage, Adelaide shoppers don't seem to like going up 1 level to shop (eg. Myer Centre)

- Lego is rolling out a few retail stores in interstate malls (mainly Westfield centres), wonder if they'd look here.

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Re: News & Discussion: CBD Retail

#3145 Post by Ho Really » Sat Oct 05, 2019 3:38 pm

nath91 wrote:
Sat Oct 05, 2019 3:14 pm
[...]

- Someone I know associated with Rundle Place has said Harris Scarfe is doing terribly, could see a big vacancy there one day. Makes me think HS probably should have never lost its mall street frontage, Adelaide shoppers don't seem to like going up 1 level to shop (eg. Myer Centre)

[...]
Sad to hear this. Yes the old store, although a mess, was always alive. Perhaps what you say about losing its Rundle Mall frontage has had an effect. Must be psychological. Be a sad day if HS goes like Johnnies.

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Re: News & Discussion: CBD Retail

#3146 Post by how good is he » Sat Oct 05, 2019 8:22 pm

The problem though the rent for Rundle Mall ground floor for the space HS had/would need, could probably send it broke anyway. My guess is the rent would be 5 times more for ground vs 1st floor etc.
Last edited by how good is he on Sat Oct 05, 2019 8:31 pm, edited 2 times in total.

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Re: News & Discussion: CBD Retail

#3147 Post by how good is he » Sat Oct 05, 2019 8:29 pm

A recent article on Rundle Place below, so has it dropped a whopping $150m in value in 3 years ($400m to $250m)?

Cromwell walks away from Blackstone’s Rundle Place sale
AFR Sept 12, 2019

Adelaide’s Rundle Place still has a way to go before it gets a new owner, after ASX-listed property group Cromwell pulled out of the running to buy the asset from private equity giant Blackstone.

Cromwell has joined AMP Capital to pass on the $250 million deal after coming out of due diligence recently, it is understood.

Both Blackstone and Cromwell declined to comment on Thursday.

AMP Capital said no to the purchase in June before Cromwell started taking a look at the deal in July with Blackstone unwavering in its plans to sell the mall and office property.

Blackstone bought Rundle Place and the office tower at 80 Grenfell Street in a package worth $400 million in early 2016. Then it was Adelaide’s newest mall and the deal was the city’s biggest individual property transaction.

The Rundle Place high-end retail shopping centre is located on the site of an old Harris Scarfe department store and has more than 85 shops over 22,000 square metres. The centre’s 11-storey office tower sits above it.

A price guide for the on-market campaign hasn’t been formalised.

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Re: News & Discussion: CBD Retail

#3148 Post by Ben » Sat Oct 05, 2019 10:51 pm

No the office tower wasn’t part of the new sale.

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Re: News & Discussion: CBD Retail

#3149 Post by Patrick_27 » Mon Oct 07, 2019 8:24 pm

There is a 'for lease' sign outside the corner tenancy of Rundle Square, I think it was Ben who said that Sushi Train and KFC were moving into the centre, has this fallen through?

Also, where can one find planning applications for retail fit outs and the like? I use to go through the ACC website but nothing comes up anymore...

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Re: News & Discussion: CBD Retail

#3150 Post by Ben » Wed Oct 09, 2019 2:10 pm

There are Forever New signs on the City Cross Tenancy. Not an international major unfortunately.

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