This article is from the Australian Property Journal archive
BEAUTY and make-up major Mecca Brands has opened its Adelaide flagship store on Rundle Mall, marking its 100th outlet across Australian and New Zealand.
Measuring at nearly 400 sqm, the new megastore at 43 Rundle Mall has a double height entrance and is leased to Mecca on a 10-year deal with a further 10-year option.
CBRE’s Julia Pottenger, who negotiated the lease, 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,” she said.
“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.” Pottenger said.
Australian Property Journal
