Revelop hits the ground running

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WESTERN Sydney developer Revelop has hit the ground running following its acqui­sition of Newton Village shop­ping centre, securing 10 new tenants since taking over the neighbourhood centre.

 

Popular fruit, veg and gour­met food store Tony & Mark’s will open at the centre later this year, while CBD eatery The Messy Tomato will open a second store at Newton as part of a centre-wide upgrade.

In addition to the 10 new tenants and lease renewals with several existing tenants, Revelop plans to invest more than $10 million in a centre up­grade, including a proposal to build a childcare centre on the rooftop car park.

The plans have been sub­mitted to the local Campbell-town council, and subject to council approval, the 96-place centre is expected to open by the middle of next year. Other retailers secured at the centre include butcher Taste Quality Meats and na­tional hairdresser and barber Moe & Co.

Revelop director Charbel Hazzouri said that while the coronavirus pandemic had prevented the new owners from visiting Adelaide in re­cent weeks, direct negotiations with incoming tenants had proven a success.

“We’re very persistent — a lot of tenants, when dealing di­rect with the owner, they’re more open because there isn’t that middle person,” he said.

“We managed to secure Tony & Mark’s, which is a real drawcard, and has been the catalyst to bring in other ten­ants.

“At Renmark, foot traffic has tripled since we bought it and we expect the same to happen with this one.”

Tony & Mark’s will open its Piccolo concept store later this year, including its fruit & veg, deli and bakery offering, across 600sq m of retail space. A small number of vacan­cies remain in the centre, ran­ging in size from 40sq m to 100sq m.

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