King William Rd traders concerned the retail strip could die due to high rents and too many cafes
KING William Rd retailers fear the premier shopping strip could “die” because of increasing rent, stagnant trade and too many cafes.
KING William Rd retailers fear the premier shopping strip could “die” because of increasing rent, stagnant trade and too many cafes.
Empty shop fronts are becoming increasingly common along the road – there are at least 15 vacant premises compared to 10 in March last year.
Traders, particularly small business owners, blamed rising property values, an over-supply of cafes, high rents, not enough foot traffic and parking issues for the shopping hub’s demise.
Vertice Boutique, Whistles and La Cobbler Shoes had all closed in the past year.
Casa D’Oro Jewellers owner Brigitte Zollo said trade had dropped in the past two years and, some days, a few as two people came into her shop off the street.
She said King William Rd had become a cafe society which, when mixed with high rents, meant the strip was “starting to die”.
“Look at all the shops, they are empty, there is nothing to come down to … it’s really just become a cafe strip,” Mrs Zollo said.
“These people are happy to buy a cup of coffee, sit down for two hours then not come out and shop.
“It’s a beautiful strip and really the jewel in the crown of retail strip shopping in Adelaide … but some retailers can’t afford to be here.”
She appreciated council-organised events, including the Unley Gourmet Gala, but said they were not enough.
“They really make no difference,” she said.
“These people come in for a free event then they just leave and we never see them again.”
Miss Martini jewellery shop owner Maria Koukos blamed unreasonable rent for the strip’s demise.
A 190sq m shop front at 136 King William Rd, in the former Doran’s building which closed in 2013, is being advertised for lease for $100,000 a year.
Real estate agents say a 100sq m shop front could cost around $60,000 per year, dependent on location.
“Landlords just don’t understand we are not getting the customers walking in,” Miss Koukos said.
The owner of men’s formal wear store Seven Men, Matthew Ataian, agreed trade had dropped over the past two years, mainly because of vacant shops.
“There are not many people who walk around in the area, it’s become such a destination place,” Mr Ataian said.
“The council needs to do something quickly before a lot of other shops close down.”
One boutique manager, who did not want to be named, said her shop had not set a daily budget in months because she simply could not project how many people would walk in off the street.
Unley Council’s most recent Vacancy and Tenancy mix report showed King William Rd, along with Anzac Highway, had the highest rate of empty shops of any of the council’s major retail strips, at 8.1 per cent.
But King William Road Traders Association committee member John Karran said things on the street had improved.
“It’s looking a lot better now than about 12 months ago, but there have been a lot of shops move out … but that’s been pretty general everywhere,” Mr Karran said.
Toop and Toop sales partner Lew Toop, who is based on King William Rd, understood some landlords were starting to revise rents to keep tenants in shops.
“Certainly we see traders on King William Rd who are working hard to maintain their business, and fair to say at times, are struggling,” Mr Toop said.
“Rent is an issue and I understand a few land holders are revising rents … to make sure they can keep their tenants.”
Unley Council chief executive Peter Tsokas refused to provide comment before the Eastern Courier Messenger’s deadline.