Adelaide City is fast becoming the hottest destination for retailers wanting to expand their businesses into South Australia, according to David West, the director of Retail Adelaide City.
Demand has increased significantly since January in the retail and hospitality sectors due to many factors, including how South Australia has successfully managed the pandemic. This year, Adelaide earned the mantle of Australia’s most liveable city (and third in the world), which is very attractive to staff wishing to relocate.
“This year has certainly seen a rebound in enquiry for quality commercial, office, retail and F&B space in the city,” says Steve Maras from the Maras Group. “There appears to be a steady stream of confidence-building again off the back of how well we have done it here in SA. The City of Adelaide has an outstanding opportunity to grow and prosper out of all this, and I think we now have interstaters really looking at Adelaide as a safe place to live and a place of business.”
Adelaide City is accessible by all forms of transport from north, south, east and west.
“The city centre is particularly attractive to retailers because of the massive customer catchment area of more than 700,000 residents living with 25 minutes drive. The city centre is very accessible from all suburbs,” says David.
The city centre continues to grow with major new hotels opening in anticipation of the increasing number of interstate tourists and overseas tourists returning in the near future. The Crowne Plaza, Sofitel, EOS at SkyCity and the fabulous new Adelaide Oval Stadium Hotel in the heart of the City offer first-class facilities.
“Adelaide CBD and specifically Rundle Mall will always be the premier shopping and entertainment destination in South Australia,” says Andrew Jonats, the General Manager of the historic Adelaide Arcade. “The suburbs cannot compete with the unique City offer of the best restaurants, the best shops, the best cafes, the best food market, the best museums, the best football stadium. Everyone recognises that Adelaide is the safest place to be and the best place to be.”
Major city centre retail, commercial, and office developments are in the pipeline, including the $400 million Central Market Arcade development that will offer many new retail opportunities and the $250 million mixed-use development at 88 O’Connell Street, North Adelaide. Opposite the North Adelaide Village has leasing opportunities available right now through Julia Pottenger at the Adelaide office of CBRE. View the developments on the Retail Adelaide City website.
The Adelaide Central Market in Gouger Street is an Adelaide icon that provides customers with fresh South Australian produce, including meat, bread, seafood, coffee and vegetables. The market is adjacent to the Gouger Street restaurant strip and the well-recognised Chinatown. The new Central Market Arcade and 35-storey tower will inject even more vibrancy and excitement into the market area, with new apartment residents calling it home.
Retail Adelaide City provides a valuable resource for retail, hospitality or professional service businesses looking for a new city location. “We have segmented the city into five key quarters or districts so that we can show the personality of that area and retailers can align their business with the main streets in the area,” says David. The site provides quick links to available properties, professional leasing agents and resources that make establishing a business in the city much more straightforward.
“The increase in demand for Adelaide City streets has really ramped up since January. We have had an increased number of local and interstate enquiries for retail, hospitality and office premises. People want the tactile experience that the city streets offer,” says David Buenfeld from Belle Commercial.
The website features properties in Rundle Mall, Rundle Street, Gouger Street, Hutt Street and O’Connell Street. The owner of a restaurant can determine the best city street to set up their business because they can see what businesses are there and what customer attractions and destinations will provide valuable passing foot traffic. Over 70 per cent of the city workers have returned, and this number continues to increase week by week.