New retail in 48 Sturt Street, Myers set to stay and one step closer on the Thomas Jewelers building

Myer has confirmed it will continue its 70-year history in Ballarat by staying in Central Square, with upgrades to the store interior set to start in the next two weeks.

Store manager Peter Griffin said the team was excited to start the work which would "freshen up" the store.

The two-stage project will start on the ground floor in the beauty area with new lighting and flooring to be installed.

Once completed, Mr Griffin said the chain was looking forward to welcoming new brands including Benefit Cosmetics.

Later this year work will continue on the first floor which will also include "improved lighting, flooring and fixtures", he said.

"Myer has been part of the Ballarat community for more than 70 years, and these store improvements demonstrate our ongoing commitment to our loyal customers and the community."

Major retail brands are sending a confident message to residents and they expect more movement in the main street during 2023.

Commerce Ballarat board member Adrian Doyle said businesses were slowly coming back into the CBD following COVID-19 lockdowns and online shopping booms.

At the start of January 2021, according to Commerce Ballarat data on vacant premises, 4.5 per cent of the 270 shops in Sturt Street were empty.

These rates are improving, with latest data for this week suggesting 3.4 per cent - or about 30 stores - being empty.

It is higher than the 10-year average of 2.3 per cent and certainly not as good as the main street's best year in 2012 when the October vacancy rate was 0.8 per cent.

Mr Doyle said there was an increased focus right across the CBD.

READ MORE: Ballarat council's outdoor seating in Sturt Street to begin in February

Each section of the street has developed its own style. For example the 400s block - the food hotspot is soon to embrace more outdoor dining with construction to start on an extended deck.

Offices and health-focused retail that rely on parking is closer to the hospital.

Traditionally, Mr Doyle said the thinking about Sturt Street was to be where the people were - on the sunny side of the street between the mall and Town Hall.

He said now a block of the street could be influenced by the different shops that were together.

"[It] just depends on who moves into the area," Mr Doyle said. "To get a big anchor tenant or anchor occupier in a block, then slowly over a year or two other related businesses move in and feed off it."

An anchor tenant with a focus on the regional market is changing places on Sturt Street.

Colliers Ballarat sales and leasing senior executive Charles Kennedy has quashed rumours the old Thomas Jewellers building has found a new tenant.

Mr Kennedy instead confirmed the national retailer will be moving into 48 Sturt Street.

The historic former State Savings Bank on the corner of Sturt and Camp streets was sold in 2021 for $2.1 million.

Mr Kennedy said this Christmas and New Year period was typically slow for commercial real estate but the lease for 48 Sturt Street had been finalised.

It is an exciting time for the east end of town and by February Mr Kennedy expects "leasing interest to go crazy".

Ballarat's main street is in a strong position to welcome big names to draw crowds of shoppers.

Mr Kennedy said the interest he was seeing - particularly with number 48's new lease - is driven by Ballarat's booming population.

"We've been compounding two per cent growth in population every year for the last almost 20 years, it's been phenomenal," he said.

"Residential development is kind of lifting all boats.

"The commercial world is being driven by the strong involvement of capital expenditures in residential and industrial projects that are going on."

Despite a forced connection to online shopping during the COVID-19 pandemic, Mr Kennedy said there was a focus on brick and mortar presences in the regions.

He said pure retail as well as food, service and hospitality had taken notice of the town's growth and proximity to Melbourne and realised they needed a foothold in our market.

Mr Kennedy said it was not just the population of about 116,000 that was a drawcard.

"We're probably drawing on surrounding areas that boost that significantly again," he said.

Mr Kennedy points to other big-name stores like Kathmandu, who were facing pressure to move into a shopping centre like the Delacombe Town Centre but instead choosing to stick to a CBD location that has been successful.

Ray White residential and commercial sales director Sam Borner said a mixture of retail, food spots and offices helped bring vibrancy to the town's CBD.

Mr Borner, who is currently working in the office space, said while post-lockdown businesses might be looking for smaller office spaces, they were still needing an in-person option.

"There's probably still a lot of flexibility in that arrangement, because they do have more people working from home one or two days a week," he said. "We're seeing an awful lot more of that, but there still is a need for businesses to work in an office."

Mr Borner said having offices brought people into town and they were encouraged to walk around when coffee shops and retail was close-by.

"Getting a big box retailer, like a large corporate in the CBD, will certainly spark things up," he said.

Current retailers at the eastern end of Sturt Street have their eyes on the Bridge Mall redevelopment.

Owners told The Courier they were excited to see how the changes would refresh the space and bring more foot traffic.

The development project and opening the mall up to cars was floated again in 2019 and is about to come to fruition, with works set to start this year.

Planning applications have already been submitted to council for businesses such as AXIS Employment - a disability employment service provider which is looking to move from Albert Street to 83 Bridge Mall.

Homeware store Minimax is also banking on the development, moving into 9/11 Little Bridge Street at the end of last year.

But it hasn't been all rosy - Inhabit made the move out of the mall in December.

Owner Paige Shaw said there were a number of factors for the closure, but did fear the independent businesses wouldn't be able to survive months of construction work.

Beyond the million-dollar development, the City of Ballarat has plans to develop the wider areas as part of the Bakery Hill and Bridge Mall Precinct Urban Renewal Plan.

The plan outlines the need to redevelop a 70-hectare district surrounding Bakery Hill and the Bridge Mall over the next few decades.

Also on the cards is a multi-storey housing facility and the possibility of 5000 new residents moving into the area.

For shops like Go Vita, Yellow Espresso and Sweet Fern, they have eyes on who will be entering the old Thomas Jewellers building to complete that section of Sturt Street.

Despite reporting from other media outlets, Mr Kennedy confirmed to The Courier the lease for this building had not been decided yet.

"We've been in discussions with three parties on the Thomas site," he said.

One local restaurateur and two retailers are eyeing the site.

Yellow Espresso co-owner Leo Trigazis said there had been a gap on the block since 2018.

"That was sad when Thomas left because that was an institution and the workers were everyday regulars at our shop," Mr Trigazis said.

"I think the whole community felt that, I think the town was a bit broken apart and it is so sad that it's empty."

Mr Trigazis said he loved being located in the centre of town and felt it was important to be at the forefront of the hustle and bustle.

"It's the heart and soul of the city," he said.

Go Vita, the health store a few doors down from Yellow Espresso, has been in Ballarat for 20 years.

Marketing coordinator Naomi Irvin said the Sturt Street location, which it has been at for almost a decade, was perfect.

Between themselves, the coffee shop and perfumery Sweet Fern they are able to attract visitors during the day and then pass the baton - so to speak - to Okami, Grilled and The Piano Bar in the evenings.

"It has nice foot traffic between Bridge Mall and Central Square," Ms Irvin said.

She said they saw the area as an extension of Bridge Mall and were hoping the incoming changes were positive.

IN THE NEWS:

Change will continue on Sturt Street.

Norwich Plaza was sold a few weeks ago and while the owners' plans for the building are unknown, previous tenants had put forward big ideas including a multi-storey apartment complex.

The Unicorn pub has a new owner and plans are in the works to bring accommodation spaces to life in the heritage building.

In terms of the future, there are now another 30 opportunities.

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