Freo's View

FREMANTLE VACANCIES NOT TOO BAD

Posted in city of fremantle, hospitality, real estate, retail, shopping, Uncategorized by freoview on July 21, 2017

 

Fremantle is doing pretty well in the commercial vacancy rate comparison with other councils.

The West Australian this week released the vacancy figures for Bayview Terrace in Claremont at 10.16%, Napoleon Street in Cottesloe at 6.81% and Rokeby Road in Subiaco at 5.94%, but failed to mention Fremantle shopping streets.

The best performing street was Oxford Street in Leederville that has no vacancies.

When we compare Freo’s main shopping streets we are doing alright here and it is not as bleak as some people think.

Commercial vacancies in Fremantle high streets are:

  • High Street mall and west end 5%
  • South Terrace 3%
  • Cappuccino Strip and Market Street 5%

However the more run-down part of Fremantle that is waiting to be developed has higher vacancy rates:

  • Cantonment Street 16%
  • Adelaide Street 21%

Adelaide Street is of course waiting for the Hilton Hotel and Little Laneway (Spotlight site) developments, while Cantonment Street will be transformed with the Woolstores shopping centre development.

 

Roel Loopers

 

2 Responses

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  1. freoview said, on July 21, 2017 at 5:08 pm

    Spicers site was part of the contract with Sirona Kel, so not sure what the problem is there. I have not heard though that the carpark will be anything else but that and Sirona has not mentioned that it is managing it as well, contrary to the Queensgate carpark.

    The piazza and Fremantle Mall have been a worry for a long time as it is just not in the loop of shoppers, so a struggle for retailers there. The cafe that used to be in the Piazza is highly successful at Fremantle Markets and they only have to work it three days a week.

    Retail is very very challenging and too many people start a business without doing proper market research.

    Times are changing for the positive in Fremantle but it will be 3-5 years before we’ll see a substantial impact.

    Roel

  2. kel said, on July 21, 2017 at 4:59 pm

    Roel,

    The Piazza is now almost empty.Vacancies everywhere.

    One has to wonder if the Sirona Capital now owned Spicer Site Carpark may be used as the site construction lay down area for the Kings Square Redevelopment. They will need some substantial area to manage the project from.

    The City of Fremantle recently sold this Carpark off to Sirona who have put off its Approved Development on this site for now.

    Surely not another once public owned Carpark gone so soon?

    I hear Best and Less are closing.


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