Hope Valley Plus - Retail Centre

A retail property was purchased on behalf of an investment group in Hope Valley, SA and Placeplan was engaged to undertake a rebranding, retail remix, and renovation.   The property comprised of a convenience store and 5 other small retail spaces across a 2400m2 site.

The property was once the Hope Valley Shopping Centre; however, over many years and with the growth of a Foodland anchored neighbouring centre had lost some relevance and was looking very tired and neglected. The new owner is a long term property investor/holder and actively seeks retail properties that need renovation and rejuvenation and their aim from the outset was to rebrand/refresh and strengthen a community focused, convenience based retail centre. The client’s objectives and brief included:

• Secure existing performing tenants with new leases and attract new long term operators.
• Improve the retail mix and introduce a larger food retail offer.
• Rebrand the Centre and establish an online presence and compliment the local neighbourhood centre retail offer.
• Renovate the existing centre to improve presentation and centre exposure and visibility.

Before design and work on the refreshed centre began, tenants were consulted with the management team of the Centre. Feedback comments included:

• “the exposure to the main road is important”
• “parking at the door step”
• “convenient and close to home”
• “centre looks tired and previous owner has done nothing to maintain it”
• “Location next to foodland is good”

One of the key strengths of the property was its significant frontage to the Grand Junction Road (a main road out to Adelaide’s north eastern suburbs). Challenges around lack of maintenance, a lack of proper leases/documentation, general up keep and the dated look of the centre did not support sustainable trading and customer support. Despite the challenges these all presented a good opportunity for the new owners.

Once Council was consulted and design work complete, refurbishment of the existing building got underway. This included, Repainting Façade, New Line-Marking and adjustments to the existing canopy to make provision for new illuminated signage. The rebranding of the Centre included a new name, new signage and importantly initiatives to raise awareness such as the Hope Valley Plus website that will allow anyone searching local shopping and businesses to find the Centre.

The adjoining Foodland anchored centre is still a big draw card given the long established supermarket; however, Hope Valley Plus has now become a much improved centre complimenting this already strong neighbourhood retail property. Today the centre is a key component of the local community retail landscape. The business are trading well, Hope Valley Plus has an online presence that ensures awareness of what the centre offers, an experienced management team has been appointed and the centre is now looking to move into the next phase of its growth.