Sydney’s newest retail precinct, Rosebery Engine Yards, has soft-launched to the public, marking the property company Goodman Group’s first major foray into retail real estate. Initially intended to be a commercial office precinct, Goodman recognised an opportunity to create a unique mixed-use space where brands can blend their head office and customer-facing operations. The pivot from a purely commercial precinct to one that includes a strong retail offering was driven by market demand and
Sydney’s newest retail precinct, Rosebery Engine Yards, has soft-launched to the public, marking the property company Goodman Group’s first major foray into retail real estate.Initially intended to be a commercial office precinct, Goodman recognised an opportunity to create a unique mixed-use space where brands can blend their head office and customer-facing operations.The pivot from a purely commercial precinct to one that includes a strong retail offering was driven by market demand and the changing needs of tenants resulting from the rise of flexible working policies post-Covid.Features like the ‘end of trip’ facilities, including ample change rooms, bathrooms, lockers, bike racks and a private gym, that were originally planned for office workers could now help Rosebery Engine Yards’ retail tenants attract and retain talent.“It is different,” Goodman Group’s commercial GM David Wilson, acknowledged. “We don’t have the experience [of] Westfield in regards to retail, but from what we’ve learned talking to the people that we’ve committed, there’s nothing really like this in Sydney.”Open for businessThe precinct has achieved practical completion, with several premium retail tenants including Viktoria & Woods, Rebecca Vallance, Oroton, Tallira by The Rug Collection, Estee Lauder’s The Cosmetics Company Store, Aje and Gelato Messina open for business.Wilson said that he has signed heads of agreement on all but four spaces, and noted that MJ Bale, July and Zimmermann are slated to open in September, followed by Lune Croissanterie, Camilla & Marc, Bassike and home retailers Oblica, Saarde, and Inartisan.“We’ve been very selective in who we wanted, we’ve had groups very interested in taking space, but we just didn’t think they were the right fit from a covenant point of view,” Wilson said.“We had this vision of what we wanted and the brands that we wanted, and have stayed true to that and kept those elevated brands that are all very similar within the development.” Hybrid retailAustralian menswear company, MJ Bale is in the final stages of relocating its commercial office from Collins Street in Alexandria to Rosebery Engine Yards where it will have about 175sqm of retail space and 700sqm of commercial office space.Viktoria & Woods has a 400sqm flagship store on Dunning Avenue and founder Margie Woods’ Lofft Agency is co-located with her fashion brand’s commercial, by-appointment-only space within the precinct.Pending final sign-off from the local council, the precinct is set to welcome a well-known premium hospitality tenant into a 1400sqm restored warehouse with exposed beams. Wilson said the space could be open to the public for dining during the day and available for private hire as an event space come sunset.Adjacent to the precinct on Mentmore Road, a private developer is reportedly looking to reposition two commercial buildings into a similar mixed-use precinct with the opportunity for more retailers.“This whole precinct has changed massively since we’ve started here, but over the last 10 years, once we get all those tenants in operation, we’ll get Rosebery on the map,” Wilson added.If Rosebery Engine Yards can get the food and beverage piece right, Wilson said, “It’s going to be something different, where you can come and have something to eat and shop”.