Despite the spectre of Amazon weighing heavily on retailers last year, Rundle Mall Plaza has shown the bricks-and-mortar model still has traction after landing Adelaide’s first H&M retail store.
The signing of the Swedish fashion giant was part of the shopping centre’s extensive redevelopment that commenced in 2017, which has involved creating a lower ground floor “tech hub”, a new ground floor dedicated to retail and fashion, a new dining precinct and a health and wellbeing precinct.
The four-storey H&M store will be the centrepiece of the $40 million redevelopment of the dedicated retail component of the plaza’s redevelopment.
Set for completion later in 2018, a substantial part of the floor of Level two will be demolished to create a double-height dining precinct. A new multi-storey void at the main entrance will be another standout feature, hosting the relocated iconic “progress statue” above the entrance to the Plaza.
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“The completed development will provide a unique shopping experience and with H&M as the major tenant, we expect Rundle Mall Plaza to not only be a significant drawcard for Rundle Mall in particular, but Adelaide in general,” Weinert Group executive director Peter Weinert said.
While typical brick-and-mortar retailers have experienced a shift in traffic due to changing retail trends, there also has been recorded growth as preferences level out, distinguishing between those who prefer shopping online and those who like to visit stores.
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“There is no doubt the time is right for this important redevelopment of the Plaza and introduction of this outstanding new H&M store into South Australia. This significant commitment by The Weinert Group shows continuing confidence in South Australia’s retail sector,” Weinert said.
Rundle Mall Plaza was constructed in the 1960s as a standalone David Jones department store, and the original builder, Hansen Yuncken, has been appointed as the principal contractor for the redevelopment works.