News & Discussion: CBD Retail

[nath91]

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?

[SRW]

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.

[Patrick_27]

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...

[SRW]

It's definitely community titled. There's a couple of the flats for sale currently.

[Abwolf]

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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[Llessur2002]

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The fit-out is a little outdated in there (although I secretly quite like that - it's like a little trip back to the 1990s) but the staff have always been incredibly friendly.

[The Scooter Guy]

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The fit-out is a little outdated in there (although I secretly quite like that - it's like a little trip back to the 1990s) but the staff have always been incredibly friendly.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

[Norman]

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.

[nath91]

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.

[Ho Really]

[...]

- 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.

Cheers

[how good is he]

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.

[how good is he]

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.

[Ben]

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

[Patrick_27]

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...

[Ben]

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