Mecca marks 100th AUNZ store with new Adelaide flagship
Beauty giant, Mecca Brands, has opened its highly anticipated Adelaide flagship store on Rundle Mall – marking the company’s 100th outlet in Australia and New Zealand.
16 Apr 2019
Located at 43 Rundle Mall, the new megastore comprises close to 400sqm of retail space, with an impressive double height entrance. The beauty brand has signed a 10-year lease on its new Adelaide home, with a further 10-year option available.
CBRE’s Julia Pottenger, who negotiated the lease transaction, said the store’s prime CBD location was pivotal to the deal.
“The search for Mecca Brands’ Adelaide flagship store commenced a few years ago with a number of false starts. The leading Australian beauty retailer is one of the most sought-after brands in the market, with landlords eager to secure them. Competition to land them as a tenant/client was high from both agents and owners alike.”
Ms Pottenger went on say the opening highlighted the strengthening appeal for international retailers to secure a presence in the South Australian capital.
“On the back of H&M opening and Mecca securing its store, the focus will now be on the last remaining international retailers yet to open in Adelaide. Suitable tenancies available on the mall remain the barrier to national and international brands securing space with larger footprint tenancies less common. Landlords are starting to look at their expiry profiles and seeing how they can create large floor plates within their existing buildings,” Ms Pottenger said.
Historically, Adelaide Central Plaza has been considered the central and best position for retailers, however, more recently there has been a shift in focus towards Rundle Mall.
Ms Pottenger noted: “With H&M and Mecca now securing the hottest location on the mall, retailers understand that if they want to secure Rundle Mall, they need to consider every opportunity.”
The eastern part of Rundle Mall will strengthen in May this year with the opening of Romeo’s Foodland supermarket – driving more foot traffic through the refurbished Rundle Square into the 1,500sqm supermarket and out onto Pulteney Street.For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.