Myer Centre Adelaide

Myer Centre Adelaide, the largest CBD shopping mall in the city, is located in the heart of the city's premier retail area along Rundle Mall – the city's only retail pedestrian street which attracts 24 million shoppers annually. Located within walking distance to the newly refurbished Riverbank Entertainment Precinct, which includes the convention centre, Festival Centre and multisports stadium, the Adelaide Oval, Myer Centre Adelaide is also within the vicinity of universities and hostels, as well as the city's art galleries and museums and casino. Completed in 1991, the property last went through a major A$35 million asset enhancement in 2013 and 2014 which included the refurbishment of the five-storey Myer departmental store. A 600-seat foodcourt is located at the basement of the retail centre and is the biggest in the Adelaide CBD. The 502,000 sq ft' retail centre is anchored by the popular Myer department store and other specialty tenants.

The office component includes Terrace Towers, a six-storey 81,000 sq ft office tower which sits atop the retail centre and two heritage buildings (Shell House and Goldsbrough House constructed in 1931 and 1935 respectively). Panoramic views of the Riverbank Entertainment Precinct and the city's cultural precinct can also be enjoyed from the office suites.

Plaza Arcade

Property Profile

Address 14-38 Rundle Mall, Adelaide SA 5000, Australia
Description Myer Centre Adelaide comprises a retail centre, three office buildings and four basement levels with approximately 467 car parking lots. The retail centre is spread across eight floors and anchored by the popular Myer department store and specialty tenancies. The office component includes a six-storey office tower which sits atop the retail centre and two heritage buildings.
Positioning Targets the mid income segment
Committed occupancy 93.4% (Retail) 51.0% (Office) as at 31 December 2016
Net lettable area 600,000 sq ft1(Retail – 502,000 sq ft; Office – 98,000 sq ft) as at 31 December 2016
Number of tenants 103 (as at 31 December 2016)
Title Freehold
Selected brands of tenants
  • Myer
  • Lush
  • Sunglass Hut
  • Rebel
  • Nine West
  • Noni B
  • Jacqui E
  • Rubi Shoes
Valuation S$300.0 million (as at 30 June 2016)

Notes:

  1. Excludes 114,000 sq ft vacant area in the highest two floors of the retail centre.