Property
Issue No. 62 - December/January 2011
Renew Adelaide calls for retail energy
by Nick Ben
An urban renewal project may be the next practical step to furthering business growth and revitalising consumer interest and confidence in South Australia’s retail potential.
Commercial property owners, Kambistis Group and Maras Group are assisting with Renew Adelaide, an urban renewal scheme, by allowing entry-level businesses to use vacant property at minimal cost.
The Renew Adelaide project was initiated by Ianto Ware and Lara Torr in 2010, driven by a belief that artistand community-run spaces have the power to transform cities.
Working in conjunction with a small number of commercial property owners, Renew’s organisers aim to fill vacant tenancies, shop fronts, basements or upper level spaces, with artist and community-run ventures that incur least possible cost.
The process of engaging property owners with businesses has seen four projects open through Renew Adelaide in just over 12 months, with more on the horizon. Initially focusing on Adelaide’s West End, the Renew project has expanded into Prospect and talks are underway between Renew and Norwood Payneham & St Peters City Council for trial programs in 2012.
Renew is still a young project but has won high profile supporters. Renew’s recently revamped Board now includes Maras Group MD, Steve Maras, CBRE State MD, Philip Rundle and Guardian Insurance chief, Evan Jackson.
“The addition of some of Adelaide’s high profile thinkers and property investors has given Renew a reinvigorated sense of direction,” Steve Maras says.
Renew’s goal is simple: to reduce vacant space in inner suburban Adelaide by helping SMEs move into unoccupied retail and commercial spaces. To assist with start-up, businesses are offered a 30-day rolling lease by property owners and operate as temporary tenants, working to reactivate vacant properties. Renew Adelaide helps businesses with signing leases, dealing with council and working with business partners.
Ianto ...
