|Retailers||Office Suites||GLA||MAT August 2017|
|35||19,079sqm||Over $90 million|
Port Canal Shopping Centre is located approximately 12km northwest of the CBD within the heart of one of Adelaide's oldest, historical ports, Port Adelaide. It is a unique shopping centre positioned to meet the everyday needs of its community in an area rich in history, culture and opportunity. The Centre is located on Commercial Road, offering over 1,000 car spaces for shoppers and is a 5 minute walk from the Port River. It is surrounded by historic landmarks and buildings and with a solid industrial and residential base, the Centre provides everyday services to a growing population of over 60,800 and over 8,000 businesses.
Proposed residential developments in the Port Adelaide area will ensure continued growth and revitalisation over the coming years. Part of the Government’s grand plan is to commission 1300 homes as well as shops, café’s, hotels and a public promenade, across 21ha on the surrounds of the Port River. It will represents $280 million worth of private investment, as well as 350 construction jobs and 2,000 ongoing jobs in Port Adelaide. Part of the plan includes:
A new era was launched for historic Port Adelaide with the grand opening of the $9m dollar Super K Mart on 22nd November 1986, making it South Australia’s first hypermarket. The store provided more than 200 new jobs in Port Adelaide and created an interest in the region which had been missing since the heavy ships “moved out”.
The Super K Mart was the biggest retail development on the Old Port Canal Site, however, the $23 million Canal project also included a mall with some interesting smaller retailers.
Port Adelaide is an historic area which was central to the colonization of South Australia dating right back to its inception in 1836 when Colonel William Light first sailed up the Port River. Port Adelaide has been the gateway to trade and commerce in South Australia and the first contact with South Australia for thousands of emigrants when they arrived by ship.
While its unique relationship to Adelaide and the rest of South Australia is apparent, Port Adelaide developed as a distinct town with a character and history of its own. In 1982 the historic centre was the first State Heritage Area to be declared.
The present location of the port was not the first. South Australia’s founder Colonel William Light surveyed the area and placed the port where Old Port Road met the Port River, at the place that became known as Port Misery. Despite Light’s vision, the site proved unsuitable and in 1840, after two years of preparation work by the South Australian Company, the port was moved downstream to its present location. The original location now lies in the area that has been reclaimed as West Lakes.
The primary catchment area includes Port Adelaide, Gillman, Queenstown, Rosewater, Alberton, Ottoway, Semaphore Park and continues to reach a secondary catchment which spans a radius of approximately 8 km including Weslakes, Woodville, Mansfield Park and along the Lefevre Peninsula to Outer Harbour.
The current total population within the catchment area is over 60,800, and it projected to grow to 70,260 by 2031.
The total retail spending market in the Port Canal trade area was estimated at $960m for year ending June 2017. The total retail spending market for the trade area is forecast to increase to $1,052m by 2021. This equates to total growth of $115m (or +12.2%).
Port Canal Shopping Centre has secured approval to commence construction of a $40 million redevelopment, due to commence in mid-2018. The Centre will expand from 19,000 square metres to over 29,500 square metres, making it the most significant retail development in Port Adelaide. The project will transform the existing mall currently comprising of two separate buildings into an exciting new retail environment under the one roof, linking major retailers Coles and Kmart with an additional 50 plus new specialty stores. The expansion will be home to a Health Club, Child Care Centre, Medical Centre, causal dining and restaurants along with a strong mix of financial services including Bendigo Bank and People's Choice Credit Union, health, beauty and everyday services including Australia Post.
The Precision Group has been working closely with the Port Adelaide Enfield Council to develop nearby streetscapes, including the upgrade of Church Street which be aesthetically pleasing whilst improving customer safety and pedestrian access from Dale Street to nearby retail precincts. Alternative and convenient car parking will be provided throughout the redevelopment, and increased car park capacity to total over 1,000 car parks which will be available to customer's upon the project's completion.
The project will assist in stimulating the local economy, boosting employment and offering further opportunities to retailers. It is estimated the redevelopment will generate an additional 120 construction jobs, 160 full-time jobs on completion of the project and is forecasted to attract approximately 3.5 million customers per annum from the main trade area.
Stage 1 is expected to open May 2019 followed by Stage 2 expected to open mid 2019.
Coles, Kmart, Liquorland, Rite Price Supermarket, Reject Shop, National Pharmacies and Australia Post