Developers splash out on Rundle Place
At a time when European economies are on the brink, Australian developers have splashed out $385 million on a new shopping complex in Adelaide’s Rundle Mall.
And experts say the influx of funds can only be positive for the state.
Harris Scarfe has re-opened on its original site in the Mall, two-and-a-half years after closing for renovations.
“We certainly are appealing to the younger demographic, but we’ve got everything that the old, more mature people love,” Harris Scarfe managing director Joe Barberis said.
A total of 70 specialty shops now also call Rundle Place home - including Coles - after a 27-year absence from the Mall.
“The more economic activity that is created in the city, it just continues to drive the growth in jobs,” Premier Jay Weatherill said.
Despite tough economic times globally, a number of international brands are setting up shop in Adelaide for the first time.
“The fact that these high class shops are being prepared to put their money into these fit-outs, these fit-outs don’t come cheaply,” said centre manager Justin Dangerfield.
Experts say that is a vote of confidence in our retail industry.
“For this to open now, with such an injection of new stores into the precinct and into the city, can only be a positive,” said independent retail expert Martin Haese.
Retailers have already got the year off to a good start and are hoping the recovery continues.
They are ready to cash in on extended Easter trade, with shops in the CBD allowed to open throughout the break, except for Good Friday.
