[COM] Rundle Mall Redevelopment | $30m

[Matt]

Completely agree with veemur.

[Prince George]

~$150m from the Grenfell St car park sale

Really? $150m from selling that one carpark? By comparison, Conservatory only cost $70m. Are you thinking of the cost of the entire Rundle Place development?

[Omicron]

Mall shoppers want a revamp with balls

*snip*

Rundle Mall general manager and former Youthworks fashion store owner Martin Haese said the time for talking about the mall was over and now was "time for action".

"I think we've got one shot. There's been a lot of growing disquiet about the inaction," he said.

"This (masterplan) will be done, but we can't afford it then to be left on the shelf. This is in my view non-negotiable, it has to happen if people want to preserve the mall.

*snip*

Is that the same former Youthworks fashion store owner Martin Haese who was so primed for action about the rejuvenation of Rundle Mall and its apparent need for new, less-boring shops that he put his flagship store on, er, Grenfell St?

[monotonehell]

Is that the same former Youthworks fashion store owner Martin Haese who was so primed for action about the rejuvenation of Rundle Mall and its apparent need for new, less-boring shops that he put his flagship store on, er, Grenfell St?

...and then closed it.

[Wayno]

~$150m from the Grenfell St car park sale

Really? $150m from selling that one carpark? By comparison, Conservatory only cost $70m. Are you thinking of the cost of the entire Rundle Place development?

oops, you are correct - somehow got my wires crossed there. Do we know the expected car park sale price?

[Burger]

Wayno, I'm not sure of the comparative numbers of caprarks or other relevant items but Centro wound up the fund that owned the Charles Street Plaza and Adelaide Central Carpark. Before it did so, it sold the whole building for $47M+change to Peregrine Corp (The Shahin Family) from memory. In my previous working life I was privy to the valuations of that Centre and seem to remember bugger-all net income from the retail tenancies. The air-rights used to build the apartments were already sold so there's no value there either. My guess is it that the carpark itself would have to have gone for at least $40M. If the Grenfell Street carpark could be sold for anywhere near that, it would provide a nice annuity to allow some decent funding to be put in place for a proper upgrade of the mall.

I have a close involvement with one of the larger Melbourne CBD Centres and have to say that population/shopper density is key to making a successful retail precint, espcially in CBD. The real current problem with Rundle Mall is that it (1) does not have the concentrated population required to support the number of shops along the entire length of it (it's the longest pedestrian-only mall in Australia but has probably the lowest population density of all) and (2) it does not have a compelling reason for people to choose it over the suburban Centres and strips.

Now the answer for Number 1 is greater than just a discussion about the Mall - it relates to building costs and planning issues across the metro area (too easy and more profitable to build on the metro fringes), CBD job creation/ job location (for people to live & work in the City), public transport network (to allow reverse-commuting - live in the City for great afterhours lifestyle but work in the burbs) and at least 2-tiers of government who don't get along but need to cooperate to fix the problem.

There are too many "me, me, me's" in the Adelaide retail market - trust me I spent 15 years working for a few of them - though very few actually know what they are doing. There are also too many bit-players in positions of relative power thanks to the planning regs and lobbyists in SA (evident by delays to Glenside Redevelopment, Airport expansion, Parkland use, the preservation of anything that resembles 'old' instead of actual historical value etc). Until someone in ACTUAL power has the nuts to make a decision all that will happen is that consultants will keep producing reports, lobbyists (from all sides) will continue to whinge and the CBD will continue to go backwards. Large suburban Centres will continue to improve relative to the City because they only have one decision maker, the Owner, and what they say (within planning regs) goes. For example, I've been in situations in the private sector where I have had a $25M development approved in less than a week from conception to Board approval. Can't happen in Adelaide, at least not in relation to the Mall.

Sorry for veering wildly off-topic but as a proud South Australian I have seen this argument going on for the last 20 years and I can see it will go for another 20.

[jk1237]

fact is that Rundle Mall is one of the most successful retail precincts in Australia, and no dull, boring Westfield in Adelaide will ever compete with it, no matter what the Westfield sponsored media reckons. With the influx of apartments and student living in the city, it will only get better. The Adelaide CBD is arguably the most dominant city centre of all Australian cities for economic activity compared to the suburbs, and I dont think that this will change much in the future.

You wait and see what happens to the mall when Woolworths reopens. Woolworths is a major magnet for city based workers and residents. While in Melb last week, the spanky new Melb central and QV developments didnt have a huge pedestrian flow, but around the Coles supermarket in the QV basement was like a beehive.

Rundle Mall aint dying and needs no SOS

edit: improvements are most welcome though

[Wayno]

Thanks Burger, so something like $40-50m for the car park, if put towards the Mall, should help quite a lot.

On your concerns, i believe the Adelaide CBD is already at (or is nearing) an interesting inflection point. The ACC & Govt are focused on improving it's amenity and interest (VSQ, HSQ, AO, Hospital, Mall, Tramlines, blah), more office space is coming soon, and all in advance of a slowly burgeoning CBD population.

All sides will hit a critical mass at some point - fingers crossed not too many years away...

[crawf]

Could also put the money towards Victoria Square and improving city streets like Grenfell St, Currie St, West Terrace etc

The footpath along Currie/Grenfell Streets is dreadful at the moment, most of the street still looks like its stuck in the 1980s.

[Waewick]

I agree that West Terrace is in need of some rejuvination

it wouldn't need a gret deal just a spruice up, given its basically a major thoroughfare however its still the first part of the city that tourists see.

[JamesXander]

Rundle Mall isn't dieing, but its not in great health. There are alot of empty shops, and the Mall isn't seeing real growth in sales.

i've noticed that people whinge about carparks on the forum alot. But unless we get an efficient public transport system, we are going to need them. Car Parking shoppers are the life blood of the retailers.

[Port Adelaide Fan]

Theo Maras puts his view on how to revive the Mall

RUNDLE Mall must become the centrepiece of Adelaide to give the city longevity and renewed character, says the mall's new management chief, Theo Maras.

The Adelaide property developer said he would champion night-time trading, better use of arcades and upper levels and develop strategies to attract exclusive retail shops into the mall.

"You bring in 30 new hot shops to the mall, and you're starting to change the whole emphasis of the mall," he said.

"If you put in three or four cafes, one or two little bars, a couple of tapas places ... we make it worthy of your visit."

Mr Maras said he believed changes could be in place as early as this summer if the authority, traders, Adelaide City Council and State Government worked together.

He flagged six issues he said were key aspects towards creating a dynamic mall:

more: http://www.adelaidenow.com.au/news/sout ... 5878145273

[Nort]

more: http://www.adelaidenow.com.au/news/sout ... 5878145273

I like this:

EATERIES in the mall such as the two that have recently opened would create a more vibrant atmosphere where people could sit and enjoy watching the buzz of other shoppers. Mr Maras said eateries that used table cloths and served tapas-style food would also provide a more stylish and exclusive atmosphere.

Ideally I think the entire length of the mall would be filled up more of those little standalone restaurants and bars. Brisbane's mall has a great one that is a bar open until late night that shows sports such as English Premier League. Great for drawing in some activity and liveliness.

[rhino]

I heard Theo Maras interviewed on the radio yesterday morning, and he insisted that there needs to be more and cheaper carparks near the mall to bring people into the city. He put this ahead of what actually went into the mall. Made me wonder about his head.

[Prince George]

I heard Theo Maras interviewed on the radio yesterday morning, and he insisted that there needs to be more and cheaper carparks near the mall to bring people into the city. He put this ahead of what actually went into the mall. Made me wonder about his head.

I heard that too, and IIRC all the comments that the presenters read out were about parking too. I sent mail to them along the lines of "FFS - we have more and cheaper parking than practically any downtown you can name", but it didn't get on-air.