Home Hardware to add Burnside location
A new Home Hardware store will be opening later this year in the space formerly occupied by a Salvation Army retail outlet and before that, an Oakcrest Foods supermarket.
A Home Hardware outlet will be the newest tenant in Burnside-Tillicum's Albion Mall. Photo by Robert Randall © VibrantVictoria.ca.
Workers are currently renovating the former thrift store in the Albion mall at 50 Burnside Road in Saanich about half a kilometre east of Tillicum Centre. It will be the third Vancouver Island Home Hardware operated by Sooke’s Gertsma family.
Founded in 1967, Home Hardware is a co-operative wholesaler, owned by over 1,000 independent operators. This will be the chain’s sixth Victoria-area store. Home Hardware’s other local outlets are in Sooke, Sidney, Saanichton, the Fairfield Plaza and Oak Bay Avenue.
General retail news is discussed on a dedicated thread here on VibrantVictoria’s forum.
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Responses to this Headline or Article
The five most recent replies to VibrantVictoria.ca's discussion forum's Official Retail thread thread, the most relevant thread to the above headline or article:
aastra
May 02, 2012 at 6:58 pmQuote: The CRD population is increasing but not at anywhere near the rate of retail expansion...
I agree, I've been saying that for a long time.
Mike K.
May 02, 2012 at 7:53 pmWhat we lack in the CRD are incubator spaces or districts for new businesses or new business ideas, tech startups, etc.
Some of the worst class-C space in this region still commands a relativly high lease rate. Once you factor in tax and maintenance under a triple-net setup the total square foot rate will easily double the cost of just the lease for the space. Considering a 1,000 sq. ft. space anywhere in the core will cost at least $2,500 per month to lease (recall that the old Zambri's space at London Drugs leased for $8,500/month!), it's no wonder many small businesses are finding it difficult to pay for their space, pay the utilities, maintain staff, maintain inventory and then try to profit.
Just recently I remarked on how the owner of Paboom is shopping around for a new space for her store currently in the 600-block of Fort. She was surprised that landlords were unwilling to offer lease discounts even though many retail spaces are sitting empty throughout downtown.
sebberry
May 02, 2012 at 9:17 pmQuote: Visit any local mall and there are more vacancies there now as well.
Lease rates in malls are also very high. Add in the extra hours staff has to work, the fact you can't close your store on stat holidays, etc... and I probably wouldn't want to run a store in a mall.
There are only so many stores you can cram under one roof that sell high-margin clothes and accessories for 16 year old girls.
Mike K.
May 02, 2012 at 9:22 pmAnd malls track your earnings to then take a percentage of your gross monthly sales.
In other words, in a mall, the better you do, the more you pay. This is on top of the lease payments.
VicHockeyFan
May 03, 2012 at 8:04 am
James Bay and Colwood Thrifty's join Tuscany and Cloverdale in 24 hour mode.
