LeaseWise News
“Left with no choice” – Max Brenner closes 20 outlets
Embattled chocolate and café chain Max Brenner has shut 20 of its 37 Australian outlets after entering voluntary administration last week. Administrators McGrathNicol confirmed on Friday evening that more than half of the stores operated by the Australian arm of the international brand would shut on October 8. “The decision to close stores is always…
Read more...‘Bigger and better, or not?’
Last week, quick service restaurant Soul Origin opened its hundredth location in Australia, an impressive milestone considering the business is just seven years old. Soul Origin founder and CEO Chris Mavris believes the franchise could still double in size if it succeeds in modifying restaurants for high street strips in regional towns. Currently, the chain is primarily located in…
Read more...Soul Origin reaches 100 stores in Australia
Soul Origin is opening a new store in Randwick, NSW, on Thursday, propelling the quick service chain to reach 100 stores across Australia. The franchise network, which opened its first store in 2011, credits its commitment to quality food and customer service excellence for driving its rapid growth. “Since the first Soul Origin store opened…
Read more...HIDDEN FIGURES
Rent isn’t the only cost you need to consider when signing a lease for a retail business. Do you know what costs are entailed when you sign up to a lease? The lease has one headline number: the rent. It is very important to realise that there are several recurring costs, some monthly, some annually…
Read more...H&M confirms opening date of two new Melbourne stores
Swedish fashion retailer H&M has confirmed the opening dates of its two new Melbourne stores, which will be located at Northland Shopping Centre and The Glen Shopping Centre. The Northland store will be the sixth H&M store to open in Victoria when it launches on September 20, spanning approximately 1500sqm, while the store at The Glen…
Read more...What is a Retail Leasing Expert?
A retail leasing expert is someone with strong retail property market knowledge and the ability to adopt this knowledge in order to maximise returns for their retail client. Extensive industry knowledge as well as a clear understanding of the individual client’s retail vision, including which market the retailer is trying to capture will allow a…
Read more...What hidden costs are there in a lease?
Do you know what costs are entailed when you sign up to a lease? The lease has one headline number, the rent. It is very important to realise that there are several recurring costs, some monthly, some annually and some at start-up of any lease that can make or break any business. The disclosure statement,…
Read more...Sumo On The Mat This Time
Peter Gothard and Morgan Kelly from financial advisory and restructuring firm Ferrier Hodgson have been appointed administrators of SumoSalad Group yesterday. “The Administrators now control the Group’s operations and are assessing the Group’s financial position,” wrote Kelly in a letter to SumoSalad’s creditors in a letter. The company’s first meeting of creditors will be July…
Read more...Fear that Food Saturation is coming
Suburban retail vacancies in Melbourne have hit a ten-year high to 8.6 per cent, with vacancy now well above the series average of 4.8 per cent , according to the recent Knight Frank survey. The survey, however, indicated that while clothes, footwear and soft goods retailers have closed shop and contributed to the rising vacancy rate,…
Read more...“Gloomy outlook” for retail sector
Business confidence is falling among leaders in retail and the construction and services sector. Illion’s Business Expectations Index now stands at 21.7 points, down 8.3 per cent from the previous quarter, but up 29.6 per cent year over year. The retail sector reported significant declines across all indices over the quarter, with profit expectations…
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