Retail Shop – Turns Commercial Office

Fruit and veg (Small)After 50 years of sales the Tenambit Fruit and Vege Shop recently sold under the hammer at auction.

This marked the end of an era for fruit and vege sales, in this strip shopping centre that serviced the local community of Tenambit near Maitland.  This was the only use the building had known since it was built by a local green grocer back in the early 1960’s.

The local purchaser, a successful accounting business, already has premises in the Tenambit shopping strip.  The booming local economic climate has seen several years of sustained growth resulting in demand for additional office space.  The decline in demand for retail and the resulting downward price adjustment on retail space has allowed small commercial businesses to fill space which was traditionally at a higher price.

Whilst this is only a small example it is however an example of what is occurring in the greater market.  There is a change happening in the retail sector.  This is being led by the growth in sales by the internet and the aggregation of small market niches by the major retailers forcing many small retailers out of business.

Some of these internet businesses are using strip shopping centres and well placed light industrial warehouses as their retail base as the address adds to the credibility of the business.

In a recent example a company importing food products has leased a small air-conditioned warehouse and when asked about passing trade the response was,  “Via the internet we get 20,000 people per day coming through our front door.”

This little sale of a fruit and vege shop in the little centre of Tenambit highlights the shift of traditional usage patterns in the broader market.  As will be seen in the future these strip areas will not be so much about supply of services to the local community but will be fronts for internet retail businesses and commercial offices. 

Paul Tilden
Commercial/Industrial Specialist

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