News & Discussion: CBD Retail

[Ben]

Adelaides first Politx store is opeing where Ed Hardy used to be in the Myer centre.

[bva]

excellent little cd/record shop looks like it has just opened up across from elephant and wheelbarrow
good prices on lps -compared to muses anyway

[Nathan]

excellent little cd/record shop looks like it has just opened up across from elephant and wheelbarrow
good prices on lps -compared to muses anyway

Title? Hooray! They've had signs in the windows for ages saying it was opening soon. They've had stores interstate for a while, and sort of took over the Big Star on The Parade (although I'm not sure if they still own that...). Generally stock quite a good range of more interesting music, dvds and books.

[Pants]

Speaking of Big Star, anyone know who's going into their former site on Rundle St? There are Candetti signs in the window, so I'd imagine the premises will get a decent re-fit, suggesting that it might be a noteworthy tenant.

[Omicron]

Adelaides first Politx store is opeing where Ed Hardy used to be in the Myer centre.

They had a shop in Marion years ago - where YD is now.

[monotonehell]

Sorry guys, looks like your dreams of sub-average doughnuts without a plane trip is fading...

http://www.abc.net.au/news/stories/2010 ... 053317.htm

Krispy Kreme short of dough
By finance reporter Elysse Morgan

The Australian arm of Krispy Kreme doughnuts has gone into voluntary administration after suffering falling profits.

The company is to undergo a full restructure to see if any parts of the business can be salvaged. Krispy Kreme spokesman Matthew Horan says the company has been brought down by several poorly performing stores.
"It's like a two-speed business with some locations doing very well and some not."

The company's directors have appointed receivers Smith and Hancock to assess whether a restructure can save the company. Mr Horan says it is too early to say how the company's 660 employees will be affected, but any people who lose their jobs will be paid their full entitlements.

Krispy Kreme has 54 outlets in Australia, the highest of any country outside the United States. It is unknown whether any of the stores will have to close.

The chain of stores attracted condemnation from nutritionists when it first opened in Penrith in 2003, with each doughnut reportedly containing 28 per cent fat.

[AtD]

Not surprising. I don't think I've ever seen a busy store. There's one outside my local supermarket and it's almost always empty. The Wendy's next door (and Adelaide company mind you) gets far more business.

[Omicron]

54 stores! No wonder they lost money - Krispy Kreme is a novelty, not a fundamental component of one's life. Fewer stores needed over a wider area, methinks.

[Allkai]

According to an article in todays paper, Dick Smith is moving into 55 Gawler Place, the old Adelaide Bank branch.

The Pulteney St store is likely to close "when the lease expires in the next few years", but the Myer Centre store is to remain.

[jk1237]

Nike store will be opening on the mall, at the City Centre building, just east of the new Jag store. I think it was previously a ladies shoe store

[crawf]

Got quite a shock when I saw the sign out the front.

Rundle Mall is travelling very nicely at the moment, makes a complete mockery of the Advertiser's rant that the mall was dying.

[Nathan]

Speaking of Big Star, anyone know who's going into their former site on Rundle St? There are Candetti signs in the window, so I'd imagine the premises will get a decent re-fit, suggesting that it might be a noteworthy tenant.

There's now hoardings up around the whole shopfront, so some serious renovations must be starting.
Hoardings are also up over what was the small jewellery store next to the K FoodExpress convenience store (opposite Nova).

[bm7500]

The installation of the mezzanine level and internal fit out is underway for the Telechoice flagship store situated in the former 'The Gold Shop' tenancy, Adelaide Arcade, Rundle Mall.

Expected opening date is early December

[Nathan]

Zara is looking at 2 possible spots in Rundle Mall to open their second Australian store, and another "big-name specialty retailer from New York" is also on the cards.
From The Independant Weekly InDaily:

Rundle Malls changing face
KEVIN NAUGHTON
These shops in Rundle Mall are empty – and official vacancy rates have jumped several per cent – but there’s change afoot in Rundle Mall.

According to official figures, vacancy rates in Rundle St and the Mall are at 7.8 per cent and 3.8 per cent respectively, with property analysts suggesting it’s a sign of tough times in the retail sector.

But property developer and Rundle Mall Management Authority chairman Theo Maras says it’s a period of “transition making the Mall more unique, giving shoppers a reason to come here rather than a suburban mall with the usual big national stores”.

In the October edition of commercial real estate company CB Richard Ellis’s ViewPoint, local analyst Kate Gray said there were signs the retail sector was struggling.

“Retailing in the Adelaide CBD has remained resilient throughout the economic downturn, but there are signs that the retail environment is starting to get tougher with vacancies starting to creep into the CBD market after several years of very low vacancy rates,” the report stated.

“Retailers are however, cautious, which means demand for property is more subdued and this has been reflected in the increased vacancy shown. This is therefore likely to slow rental growth on Rundle Mall in the coming 12 months.”

On the other hand, Theo Maras says the vacancies show the transition is working.

“We have been out there targeting retailers with a well known, yet unique brand,” he told Indaily.

“I’m talking about those high-end brands that are well known, but have one outlet in every city, not an outlet in every shopping centre.”

Innovative clothing retailer Zara is one such retailer and it’s currently deciding between two possible locations in the area. It will be Zara’s second Australian store after it opens its first at Sydney’s new Westfield development near Centrepoint Tower.

A big-name specialty retailer from New York is also being whispered about around town and if it arrives – hang on to your credit card.

Maras says there has been major change in the precinct in the last year.

“We’ve gone out to the marketplace and we are sourcing new tenants and then introducing them to landlords.

“You will have noticed how Rundle Street (in the east end) has seen a change of tenant styles towards high quality fashion brands. We have got 12 major national brands wanting to get into the street but are just waiting for a vacancy.

“Names like Metalicus and Seed (children’s clothes) and others are on the list.

“Rundle Street is full and the empty shops in the Mall are actually leased out waiting for the new tenants to move in.”

Mr Maras said the Mall was now tracking in the right direction.

“We’ve got early evening opening, gone through the change of tenancies and we are now recording an increase in pedestrian traffic instead of the decline that had been happening.”

Latest figures show Rundle Mall’s annual pedestrian traffic at 23 million.

[SRW]

Innovative clothing retailer Zara is one such retailer and it’s currently deciding between two possible locations in the area. It will be Zara’s second Australian store after it opens its first at Sydney’s new Westfield development near Centrepoint Tower.

I wonder at which sites Zara are looking? I can't think of any appropriate ones. What's going in where Bras'N'Things used to be? Maybe they're waiting for the Harris Scarfe redevelopment?

A big-name specialty retailer from New York is also being whispered about around town and if it arrives – hang on to your credit card.

This can surely only mean Tiffany's.