[PRO] Westfield Marion

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From my experience the Messenger people are quite happy making up their own stories. All you can ask for from them is that the stories contain at least a little but of something roughly based on fact.

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My mail is that any new development at Marion will still be a long while off, TTP's redevelopment is next on the adgenda for Westfield in SA.

[Ben]

David Jones has this week started it's long awaited redevelopment. it is expected it will be complete mid November in time for Christmas. There will be added floor space and a much more extensive brand selection.

Further to this, demolition has started on the outdoor area where Outback Jacks is. S bar has closed and a lot of work is going on. One of the new tenants will be South Australia's first "TGI Fridays" restaurant.

[Omicron]

David Jones has this week started it's long awaited redevelopment. it is expected it will be complete mid November in time for Christmas. There will be added floor space and a much more extensive brand selection.

Further to this, demolition has started on the outdoor area where Outback Jacks is. S bar has closed and a lot of work is going on. One of the new tenants will be South Australia's first "TGI Fridays" restaurant.

A very naughty part of me is rather looking forward to this.

[The Scooter Guy]

I'll should head off to Marion about next week or week after and take some progress pics!

[Ben]

This Sunday 4 more stores will be closing their doors at Marion: Williams, Colorado, Angus and Robertson and Smokemart (Level 1). In recent weeks Specsavers, Reflection Day Spa, Cotton on body, Perfume Empire and Ed Harry have closed.

There are a lot of empty stores at the moment. I have not seen this many since the redevelopment of 1997. Bad times for retail.

In some good news Adelaides first "Colette" store is about to open and 3 weeks back Adelaides first "Blue Illusion" Store opened.

The Ground floor of David Jones is also now 3/4 closed due to renovations.

[The Scooter Guy]

Here's the pics from yesterday:

[Ben]

Sintra at Marion closed down on the weekend.

I counted 14 empty stores on my walkthrough today...

[jk1237]

ah dont worry, its happening everywhere. The West Edmonton Mall (largest in North America) had a few vacant stores I noticed too

[Pikey]

Peter Alexander is opening a store in Marion soon.

I wouldn't worry about the empty stores Ben, there is a list of over 300 retailers trying to get in to the centre, plus I've read that Marion is currently through a "re-lay" of some of their longer term tenants.

[Omicron]

Methinks as well as lease renewal time it was also store renovation time. $Texas.

[Ben]

Peter Alexander is opening a store in Marion soon.

I wouldn't worry about the empty stores Ben, there is a list of over 300 retailers trying to get in to the centre, plus I've read that Marion is currently through a "re-lay" of some of their longer term tenants.

300?? There isn't even that many additional retailers lol .... some of the stores have been vacant for months too..

[JamesXander]

Maybe a list of 300 companies expressing interest. I would imagine that list was gathered some years ago also. Retail is in the pits at the moment, increasing wages & increasing rents (5% pa factored into most Westfield contracts) and declining sales = uh oh. Another year of the current retail environment and I wouldn't be surprised in the least to see a few big name retailers go bust.


This project is years off (wouldn't be upset to be proved wrong though!)

[Pikey]

Well despite all of the forsayers of doom for Westfield Marion, every single empty store has a new tenancy under construction.

And the number of 300 retailers came straight from Westfield. The list of waiting applicants really is that long, with the majority being retailers that haven't entered the SA market.

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I think it's very true what someone (can't remember who it was) said a couple of weeks ago. We're talking ourselves into a recession we don't have to have!

The Australian economy is fundamentally quite strong, yet because of negative media and negative international events (which undoubtably will have some effect on us here) we're all talking doom and gloom. Even here on this forum it seems to be happening a bit.

If we're not careful it will become a self-fulfilling prophecy because we'll all keep not spending because we fear job losses etc, and before we know it because we didn't spend there will be a recession here. It's somewhat daft but I really think that's what is happening.

I know from my inside sources at Westfield that they do have a big list of retailers waiting to open stores, and they are doing very very well indeed as a company, even if some individual retailers are finding it a little tough (and some extremely tough). Let's not forget that it's only a very small number of retailers who have actually shut down, and in most cases there were numerous underlying reasons for that which have nothing to do with the broader economy. Most retailers are still making a healthy profit despite their stupidly high rents, and they're complaining just because they're not making quite as much of a profit as they had predicted they might. At the end of the day if they're making a profit then things ain't that bad! It's just that retailers have got used to the idea of making more and more profit every year, and that's not happening at the moment. So what, they're making a profit!