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Located in Queen Street Mall's Winter Garden Center, Aquila is a story of unlikely resilience to the challenges faced by retailers in the Brisbane CBD.
The men's shoe retailer had a presence at the mall for nearly a decade, including a Myer kiosk, before the anchor tenant exited the eponymous center in 2023.
In Winter Garden, Aquila is one of a dwindling number of retailers, with others leaving ahead of redevelopment expected to begin next year.
Despite the challenges plaguing men's shoe retailer Aquila, Queensland manager Hayden Smith says the company is doing well. Credit: Courtney Crook
Despite the loss of foot traffic and name recognition, the brand's Queensland manager Hayden Smith said the store was doing unusually well, with sales up compared to previous years despite the current situation. Ta.
Aquila will eventually leave Winter Garden. If that happens, Smith says he will look for another central location.
“It's convenient to be in the CBD. We have a lot of contacts with suiting brands that bring customers here,” he says.
But the store could be forgiven for considering suburban options.
Brisbane CBD's retail vacancy rate continues to rise in 2024, with uncertainty plaguing the shopping precinct. Credit: Courtney Kruk
Brisbane's CBD has the second highest retail vacancy rate in the country after Perth. Commercial property agency CBRE said 19.2 per cent of shops in Brisbane's CBD were vacant in June.
Plans to reinvigorate CBD's retail reputation have been teased for years.
But every time a redevelopment and completion date was promised, excuses and delays kept coming.
For more than a year, uncertainty has hung over Uptown (formerly Myer Center) at the top of the Queen Street Mall.
Speculation that the former Treasury Casino building would be home to retail was dashed last month with news that Griffith University would be taking over the space.
Plans for a luxury retail precinct at the Queen's Wharf casino development are also up in the air, with a former anchor tenant suing the Destination Brisbane Consortium.
Data from Square, which provides payment terminals to businesses, shows the CBD accounts for 10.8 per cent of Brisbane's total retail and food and beverage spend.
Unlike Melbourne, where 69% of spend occurs in the CBD, spend across Brisbane is much more decentralized.
Although Brisbane's CBD is more crowded with office workers than Sydney or Melbourne, most people prefer to save money on their shopping spree in suburban Westfield.
Once upon a time, a trip to the CBD was treated as a destination shopping event. People came to the city from the suburbs to shop at custom retail stores. I felt like I had a special experience.
QUT professor and retail expert Gary Mortimer said the destination shopping experience was fading in the CBD, although this was being replicated in other areas such as James Street in Fortitude Valley. speak
“It’s hard to draw customers into a shopping center (like Uptown) if you don’t have enough attractions to attract anchor tenants and customers,” he says.
“What we have seen with the rise in working from home after the pandemic is that people are no longer specifically going to the CBD for shopping.
“They are likely to go to the big centers like Chermside, Mt Gravatt and Indooroopilly, where parking is basically free.”
However, there are some bright spots. The CBD has seen an increase in pedestrian traffic and tourist spending.
According to Brisbane City Council data, around one million pedestrians pass through Queen Street Mall every week. Credit: Glen Campbell
Brisbane City Council says footfall at Queen Street Mall has increased to about 78 per cent of pre-COVID levels. This equates to more than 1 million pedestrian movements each week, but the council was unable to provide raw data.
Tuesday was a peak day in the CBD, with office attendance jumping to 87%.
The biggest crowd in the CBD this year was on Saturday 31 August, the week of Queen's Wharf's first phased opening and the Battle of Brisbane match between Riverfire and Broncos vs. Dolphins. Pedestrian numbers were 89% of pre-COVID-19 levels.
Deputy Mayor Krista Adams said: “The global pandemic has had a huge impact on the number of people coming into the CBD, but it's positive to see more people returning not only for work but also for tourism. ” he said.
“These are incredibly exciting times for Brisbane, with projects like Kangaroo Point Bridge and Queens Wharf and Waterfront Brisbane (also known as the Eagle Street Pier redevelopment) , it will make the city center even better.”
The Star Casino and Queen's Wharf complex at the end of Neville Bonner Bridge. Credit: Glen Campbell
Pigeonhole, the home goods and gift shop across from Aquila in Winter Garden, has weathered similar challenges over the past year, but positive changes are in store for the retailer.
Until recently, the brand had a sister store uptown, Coo Coo.
After failing to reach a lease agreement, they are currently negotiating to build a new store across from Jimmy's on the Mall and next to The Body Shop. Foot traffic is not an issue here.
Like Aquila, Pigeonhole has been affected by Winter Garden's upcoming redevelopment plans and the departure of many retailers, resulting in reduced foot traffic and lunch trade to the centre. Credit: Courtney Kruk
“I've worked in this city for a long time and seen all the changes,” says store manager Emily Haupt.
“I think the closing of the Meijer (uptown) is impacting trade in the city.
“(But) the city is still a unique environment compared to, say, Westfield. From what I've observed, things have calmed down quite a bit and the city is returning to its old self.”
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