11/02/2014
Magill Road and Payneham Road have experienced an influx of new traders over recent months, reducing the commercial tenancy vacancy rates to an impressive 1.5% and 4% respectively.
The results of a commercial property audit of Magill Road and Payneham Road in January 2014, place these two inner-metropolitan Mainstreets in a good position, with vacancy rates falling well below the 5% vacancy rate which is considered normal for a mainstreet precinct.
Between July and December 2013, six new businesses opened within the Magill Road Precinct, including three businesses which have relocated from other Precincts and three new start-up businesses. The new businesses along Magill Road are:
- Fit Project (3/2-20 Magill Road, Norwood)
- Dolci Galleria (125 Magill Road, Stepney)
- Anasa Healing (219 Magill Road, Maylands)
- Style with Grace Boutique (1/223 Magill Road, Maylands)
- Latino House (377-379 Magill Road, St Morris)
- Love Affair Boutique (439 Magill Road, St Morris).
In the same period, seven new businesses opened within the Payneham Road Precinct, including three businesses which have relocated from other major Precincts (namely Rundle Street, King William Road and Walkerville), three start-up businesses and one business which was previously a home-based business. The new businesses to Payneham Road are:
- The Social Tree (180 Payneham Road, Evandale)
- Say I Do (192 Payneham Road, Evandale)
- In Love Again Vintage (71 Payneham Road, College Park)
- Social Media AOK (Level 1, 38 Payneham Road, Stepney)
- Lavender Bridal and Formal House (130 Payneham Road, Stepney)
- Michaela Hill Graphic Design (67 Payneham Road, College Park)
- Passion Beauty (6/190 Payneham Road, Evandale)
Rene Mussared, owner of Payneham Road businesses, The Vintage Bride Boutique and In Love Again Vintage, believes Payneham Road is the ideal location for her businesses due to its reputation as Adelaide’s premier bridal shopping destination and the ongoing support which the Precinct receives.
“When looking to relocate my business, I could not pass up the opportunity to move to the Payneham Road Precinct,” said Ms Mussared.
“Payneham Road is widely regarded as Adelaide’s leading bridal destination and the City of Norwood Payneham & St Peters offers ongoing support for continued growth in the area,” she said.
For further information, contact the Council’s Manager, Business & Economic Development, Skana Gallery on 8366 4564 or email sgallery@npsp.sa.gov.au
