Lewis Land Group is giving Harbour Town Adelaide a $35 million facelift
The Rich List Lewis family’s Lewis Land Group is splashing out $35 million on a master plan upgrade to its outdoor outlet shopping centre, Harbour Town Adelaide.
The upgrade is timely as retail sales in South Australia have grown 3.3 per cent in the year to June, above national average growth, Colliers International’s latest retail research shows. Reflecting the trend, the 130-outlet Harbour Town Adelaide at 727 Tapleys Hill Road, West Beach, only has a 0.5 per cent vacancy.
“Harbour Town Adelaide is a core asset for the Lewis Land Group and we want to ensure we are continuing to evolve in the dynamic retail sector,” Lewis Land Group chief executive officer Chris Calvert said.
“Lewis Land Group is committed to ensuring Harbour Town Adelaide remains the premium outlet offering in South Australia.”
Growth in South Australia’s retail economy has come from cafés and restaurants, food and other retail categories. Vacancy in Adelaide’s main retail strip, Rundle Mall, fell to 2.8 per cent in June, from 4.2 per cent in September 2016.
Furniture and homewares retailer Domayne opened its first store in South Australia in March.
New tenants
Lewis Land recently secured Polo Ralph Lauren as a tenant at Harbour Town Adelaide – which is adjacent to Adelaide Airport – in addition to other new tenants this year such as Peter Alexander and Calvin Klein Underwear.
When completed, the upgraded centre will offer a new food area, new social spaces and more parking. Works are expected to start in 2018.
The group also recently expanded its Gold Coast Harbour Town centre – one of four in Australia including Adelaide – along with co-owners Lendlease and The Future Fund.
Lewis Land is one of Australia’s largest residential and commercial property developers. Its projects include the $2 billion Sovereign Islands on the Gold Coast and currently, Port Macquarie’s largest master planned community, Sovereign Hills.
