LeaseWise News
The truth about physical store closures in retail
We sit so high on the city walls Our tears wash clean the cobblestones It’s not so much that the thrill is gone Just a cleaner, sweeter, brighter thrill has come along – Bernard Fanning To read the retail headlines, on occasion, in ours and in other countries, is to read the story of a…
Read more...Napoleon Perdis closes half of its stores
Less than a week after entering voluntary administration, beauty brand Napoleon Perdis has announced the closure of half of its stores. The decision was made after administrators at Worrells Solvency spent the weekend assessing each store’s performance and position in the market. Twenty-eight of the 56 national stores were deemed unnecessary and shuttered on 4…
Read more...Menswear retailer Ed Harry enters voluntary administration
Struggling menswear chain Ed Harry has been placed in voluntary administration following poor Christmas sales, putting about 500 jobs at risk. Accounting firm KPMG’s Brendan Richards and Gayle Dickerson have been appointed voluntary administrators. Ed Harry, which was established in 1993 and relaunched in 2011, operates 87 stores across all Australian mainland states and territories and…
Read more...Lease changes to give NSW retailers access to better data
Retailers in NSW will have the ability to access information on sales reporting and occupancy costs from shopping centre landlords, improving transparency and accountability as of January 1, 2019. The change comes as a result of a partnership between the Australian Retailers Association, the Pharmacy Guild of Australia and several other industry bodies that have…
Read more...With no buyers biting, Roger David will close within weeks
Despite a final flurry of activity, as customers reportedly rushed into stores to scoop up men’s suits on markdown, Roger David, Australia’s third-largest specialty menswear retailer, will close for good in a matter of weeks. The 76-year-old retailer appointed administrators last month, citing its inability to compete with the influx of multinational retailers and the…
Read more...Retail on the wrong end of household spending shift
Australian households are spending more on food, transport and recreation than they have in the past and reducing retail spending, according to Commonwealth Bank’s new Household Satisfaction Index. Of the $57,000 that the average household spends per year (excluding rent and mortgage payments), over 22 per cent goes to food, over 17 per cent goes…
Read more...Too many cafes: bubble building in F&B retail leasing
The food court is abuzz during a summer’s day at Westfield on Pitt Street, Sydney. Cole Bennetts Leading leasing agents, retail consultants and valuers are warning of a bubble building in Australia’s booming food and beverage sector as mall landlords like Scentre Group, Vicinity Centres and GPT turn to cafes, restaurants and the latest eating fads…
Read more...Leasewise Market Update OCT 2018
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Read more...‘Marked down to clear’: Roger David collapses into administration
Menswear chain Roger David will embark on an immediate national closing down sale after being placed in voluntary administration. In a statement, the company said it was now in the hands of administrator KordaMentha after being unable to cope with an influx of international competitors and the “rapid evolution” of online shopping. Roger David has collapsed.CREDIT:ANGELA WYLIE KordaMentha…
Read more...Westfield unveils $470 million ‘living centre of the future’
Shopping centre owner Scentre Group opened the doors on Thursday to its first greenfield development, the 59,000sqm Westfield Coomera on the Gold Coast. Over 40 per cent of the $470 million development is dedicated to dining, leisure and entertainment and services, including a two-level dining and entertainment precinct, market-style fresh food, quick eateries and a…
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