After a tough few years for the sector, the outlook for retail in 2023 remains “interesting”, according to retail construction specialists Mainbrace Constructions.
While some retailers and asset owners were waiting for greater certainty around COVID, that time has passed. Now there’s high construction costs, labour shortages, climbing interest rates, conflict in Ukraine, natural disasters and a possible US recession. The industry remains cautious amid these challenges.
A few years ago, a retail expert likened “empty shops” to “cancer cells” to Rob Doust, Mainbrace Managing Director, because they “multiply.”
A strategic refurbishment or re-purposing project can mitigate such outcomes, he says. But certainty and early involvement from the builder is key, especially considering current headwinds.
“We can provide certainty around any retail construction project, large or small. The greatest impact comes from being an integral part of the team early,” Mr Doust says.
Duncan McAndrew, Queensland State Manager says: “Mainbrace is fortunate to call the major supermarkets our customers and in early 2023, we’ll commence numerous refurbishment and interior re-purposing projects in Brisbane and regional Queensland.
“Mainbrace is working on expansions to Aldi stores in Keperra and Yamanto, has commenced an expansion of Deception Bay Marketplace to include a new Coles, as well as a refurbishment of Coles near Airlie Beach. Near Tweed Heads, Mainbrace is looking to work with a new client in the Early Contractor Involvement (ECI) phase of a new Woolworths to support the area’s growth.”Through ECI, we’re working with private and public entities on almost 20 future projects, ranging from $6m-$170m. Done right, this approach is cheaper, quicker and carries less risk for everyone – big issues in today’s construction environment,” Mr Doust says.
Meanwhile, at Hervey Bay, Mainbrace will hand over the new Bunnings Warehouse for fitout in November, to open by Christmas.
Content provided by Mainbrace Construction.
