Resurgent local economy boosting Mackay retail market: HTW commercial
The vacancy rate of bulky goods premises is now quickly dropping as new retail ventures emerge with the resurgence in the local economy and employment levels, according to the latest Herron Todd White (HTW) report.
The valuation firm took a look at the changing faces in the retail sector across the nation.
"To help revitalise the Mackay CBD, landlords of vacant premises are being encouraged to allow more pop up shops. It is hoped that this concept will give the opportunity for new would be retailers to gauge how successful their venture would be without committing to a long term lease. Hopefully this will stimulate activity in the city centre and will eventually attract small retailers for longer terms," the HTW valuer noted.
"We are aware that a major real estate agency/insurance broker is well advanced in the relocation of their premises to a central Victoria Street location which will assist in generating more foot traffic around the city centre."
Super Amart has relocated from Highway Plaza, Mount Pleasant to a tenancy of approximately 5,500 square metres in the old Bunnings building in the Greenfields Precinct at Mount Pleasant for a 15 year term, and World Gym has leased approximately 1,870 square metres for a seven year term.
Rents are confidential but incentives were considerable to fill these very large areas.
Beacon Lighting has leased a prominent tenancy at the corner of the Bruce Highway and Heaths Road and Central Queensland’s original discount retailer, Silly Solly’s, is set to make a comeback in the Greenfields Precinct.
"Heading further north, new bulky goods retailers including Fantastic Furniture and Pet Stock have commenced trade in the former Masters building at Richmond. At the time of writing, Anaconda was close to opening. We understand that Spotlight and Nick Scali will also be represented in this complex," HTW noted.
A Mackay 108 square metre retail showroom plus office has been listed for lease with the price of $32,000 per annum.
The shop situated at 206 Victoria Street comes with kitchenette and bathroom.
It is close to Caneland shopping centre and other major retail shops.
Another offering is a CBD 56 square metre retail space with lease price of $1300 per month.
The shop 2 at 134 Evan Street features off street customer parking, internal toilet/skink and air condition.