Adelaide Arcade has held a 0% vacancy rate across the first six months of 2023.
According to CBRE Research’s Australian CBD Retail Vacancy H1 2023 report, this is the lowest vacancy rate in the country.
Adelaide Arcade holds several apparel retailers and eight jewellers and is managed by local property business Evans + Ayers.
Evans + Ayers MD Andrew Jonats said the centre has a unique tenancy mix.
“We work hard to ensure Adelaide Arcade is not only wholly occupied by quality retailers but occupied by businesses that will benefit from being in our unique retail space,” Jonats said.
Across FY22-23, Adelaide Arcade has onboarded retailers across various categories, including clothing stores Finding Nina and Adelaide Vintage, dining retailers like Cielo Sanguicheria, and specialty retailers like Kennedy and Parker, Orchard Bookshop and Aurum Jewels.
The centre also added its first tattooist space, Gilded Goblin.
“The new occupancies are local businesses, some established already and some new,” Jonats said
“What appeals to the Adelaide consumer is buying local – and now we’re seeing more movement through the city post-COVID, we’re experiencing positive flow-on effects with expenditure.”
The CBRE report also outlined occupancy rates across retail, arcade, and strip locations.
Adelaide’s overall 12.4% vacancy rate is a 0.8% drop in the second half of 2022. CBRE noted it is not the lowest vacancy of the major capitals, but is following a positive downward trend. Nationally, vacancy rates are softening in line with office occupancy.
Adelaide Arcade is anchored by its prime location off Rundle Mall.