Colliers International appointed to lease ground-floor retail space in Adelaide’s latest apartment complex
Retail operators are now being canvassed for the ground floor of Adelaide CBD’s latest mixed-use development, West Franklin, since main works construction have been underway since April.
The $300million lifestyle complex on the corner of Franklin, Elizabeth and Morphett streets is expected to be completed by early 2019, with stage one comprising 271 luxurious apartments across two 18- and 20-storey towers, and 1,245qm retail and commercial space.
Colliers International has been appointed to lease the 1,046sqm ground-floor retail tenancy, with Retail Leasing executive Lauren Smith saying the campaign was predominantly being targeted at supermarket operators.
“West Franklin is one of the largest urban regeneration projects ever undertaken in the Adelaide CBD and occupies a 5,000sqm site that was previously the home of Balfours, an iconic South Australian bakery,” she said.
“The master-planned development will create an entirely new destination within Adelaide’s west end, incorporating residential, retail and commercial uses.
“The ground floor comprises retail and commercial spaces configured as a proposed supermarket, cafes and shops.”
Ms Smith said the ground-floor retail space had at grade parking, extended ceiling heights of 5.7 metres, and dual frontage to Franklin Street and a newly constructed shared driveway zone.
“The tenancy can be subdivided and there will be prominent signage opportunities for retailers,” she said.
“At this point, we’re targeting supermarket operators, with several services offered as part of the base build.
“The growth in population within the Adelaide CBD is expected to accelerate in the next decade so this is a fantastic location for a supermarket operator.”
Local award-winning design practice, Brown Falconer, led the exterior design and interior fit-out of West Franklin, while Built Environs was awarded the $90million builder contract.
The development is located in an up-and-coming precinct of the Adelaide CBD, joining the new SAHMRI and Royal Adelaide Hospital buildings.