Increasing commercial prospects as international brands eye Australian property
International brands are becoming more common in Australian markets, with a growing emphasis on putting the first store in the right location. According to Lander & Rogers partner John Wells, these are being found primarily in central business district areas, leading the way for a potentially higher demand for Darwin commercial property in the future.
"Having a bricks-and-mortar presence in key central business district locations is an advertisement for the importance of traditional retailing where online channels are increasingly used to push sales," said Mr Wells as reported by Property Week on 4 August through Property Observer.
An 10 April article in the Sydney Morning Herald highlighted these degrees of growth, stating that continued interest in Australia's retail market will continue upwards as the economy climbs heading into the future.
This was reinforced by H&M Australia country manager Hans Andersson, who reportedly scouted locations across Australia for more than three years before settling and opening shop.
"The first stores you open in a new market are the most important, though – they have to be the right ones. That's so important. So we took the time to find that," said Mr Andersson.
As more international retail opportunities begin to move into the Australian commercial market, advertising the right location for commercial property is become increasingly important. Now could be the perfect time to consider your property opportunities in the Northern Territory.