Adelaide CBD is emerging as a leading luxury retail destination, attracting international luxury designers and leading Australian retail brands to the city’s premier retail development, Adelaide Central Plaza located on Rundle Mall.
Owned by Precision Group, Adelaide Central Plaza forms the centrepiece of the Rundle Mall retail precinct, offering a luxurious setting and a range of global brands including TAG Heuer, Tiffany & Co and exclusive international brands within David Jones Department Store.
Precision Group founder, CEO and Managing Director, Shaun Bonett said, “There is high demand right now from national and international retailers for prime CBD store locations.
“The demand for flagship outlets is being fuelled by workers returning to the CBD and a resumption of international tourism, as retailers tap into the continued demand for experience-based, physical stores.
“With the benefit of the opportunities that this presents, and the continued strength of luxury retail across the globe, we are reimagining Adelaide Central Plaza through a major new investment, to further elevate the retail experience for customers.
“Along with our luxury group of retailers, we are investing $125 million dollars over the next 3 years to create the first dedicated luxury shopping precinct in Adelaide’s CBD.” Mr Bonett said.
Rundle Mall continues to be Adelaide’s premier shopping, dining and entertainment precinct, featuring global brands and local favourites, with over 1,000 retail stores, casual to fine dining and a vast array of cultural experiences, attracting 42 million visitors annually.
“Activity and demand in the Adelaide CBD has been heightened by the reintroduction and expansion of major events in 2023, with significant investment by the State Government. This has supported a resurgence in travel-related retail expenditure, and as such, we are fielding strong interest from high-profile luxury brands with the retail spend in Adelaide’s CBD in 2022 being $1.5 billion.
“In addition, a combined public and private investment pipeline of $9 billion in the Adelaide CBD is further evidence that the city is undergoing a significant transformation.
“A dedicated luxury precinct in Rundle Mall will enhance Adelaide’s reputation nationally and internationally, attract major investment, and continue the significant commercial development in the Adelaide CBD that has been going on in the last several years, which has included the recent completion of new luxury hotels, major office towers and a major casino redevelopment and expansion on the city’s riverbank, all within a short walking distance from Rundle Mall.
“Creating a luxury retail precinct centred around Adelaide Central Plaza is an essential feature of a thriving central business district and will enhance Adelaide’s status as a global city with an outstanding global reputation as a city of art and culture.” Mr Bonett said.
One of the most recognised luxury brands in the world, Louis Vuitton opens a pop-up today at Adelaide Central Plaza, joining global luxury and local premium brands in Adelaide’s premier retail district on Rundle Mall.
The Louis Vuitton pop-up is open from 13 October until 28 December.
.jpg){kind=tracking}
