Big retail names to occupy Adelaide’s newest Large Format Retail development

CBRE Group, Inc. a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue).

The company has more than 105,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. 

Four well-known retailers have signed leases for a new development opposite Mount Barker Homemaker Centre, entrenching the area as a Large Format Retail hub.

The 4,350 sqm development is set for completion in mid-2023 and will consist of four tenancies, JB Hi-Fi (2,000 sqm), Adairs (950 sqm), Beacon Lighting (650 sqm) and Horizon Leisure (750 sqm).

Located 35 minutes from the Adelaide CBD, the development will serve as an extension of the town centre of Mount Baker, the largest township in the Adelaide Hills, complemented by retail outlets at Mount Barker Homemaker Centre such as Harvey Norman, Spotlight, BCF, Toyworld, and Autobarn.

The development project will be delivered by Chappell Builders and CBRE’s Dallas Sears secured the seven-year lease tenancies, with further options after that time.

“Heat mapping of traffic and footfall movement in the area highlights that it’s a hub for commercial and retail activity in Mount Barker and the surrounding townships, which is why retailers want to be there,” Ms Sears said.

Michael Cherubino, Executive Director of Adairs, noted, “We have been looking to secure a suitable site in Mount Barker for several years now and we are looking forward to opening alongside some fantastic national retailers.”

Ms Sears added, “The Homemaker Centre acts as an extension of the main street and township of Mt Barker.”

“Horizon Leisure will be relocating from Mount Baker Homemaker Centre into larger premises in the new development, and we already have several retailers interested in their existing space, highlighting the strength of tenant demand.”