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Cost Premiums

• Sydney +15-20%
• Melbourne +10-15%
• Brisbane Base
• Perth +5-10%
• Adelaide -5-10%

Case Studies

• Sydney: A recent fitout of a high-end fashion boutique in Sydney's CBD highlighted the importance of bespoke design and high-quality materials, with costs reaching $2,200/m².
• Melbourne: A food court renovation in a major Melbourne shopping centre demonstrated the impact of integrating sustainable practices, with costs averaging $2,800/m².
• Brisbane: An entertainment venue fitout in Brisbane showcased the role of technology in enhancing customer experience, with costs around $2,000/m².

Market Analysis

The Australian retail sector is experiencing significant changes due to the rise of e-commerce and changing consumer preferences. Despite these challenges, the retail sector remains a significant contributor to the Australian economy, with retail sales reaching $326.5 billion in 2020. The retail fitout market in Australia is expected to grow at a CAGR of 3.5% from 2021 to 2026, driven by the increasing demand for modern and innovative retail spaces.

Fitout Costs

The average fitout cost per square meter for retail spaces in Australia ranges from 1,500to3,000, depending on the type of fitout and location. Food and beverage fitouts typically have higher fitout costs due to the need for specialized equipment and fixtures. Fashion fitouts have lower fitout costs due to the relatively simple design requirements. Entertainment fitouts have varying fitout costs depending on the type of entertainment offered.

Cost Components Breakdown

• Base Building Works (45-55%)

  Structural modifications

  Services infrastructure

  Floor/wall finishes

  Ceiling systems

• Fixtures & Fittings (30-40%)

  Custom joinery

  Lighting systems

  Display units

  Furniture

• Professional Services (10-15%)

  Design fees

  Project management

  Engineering

  Certification

Planning Phase

• Early contractor engagement
• Value engineering workshops
• Material selection optimisation
• Services coordination

Implementation Phase

• Phased construction approach
• Quality control processes
• Cost monitoring systems
• Risk management strategies

Future Outlook

• Continued emphasis on experiential retail
• Growing investment in technology integration
• Increased focus on sustainability
• Rising importance of flexibility in design

References

• Property Council of Australia
• Australian Retailers Association
• Major Shopping Center Groups
• Leading Fitout Contractors

More case studies of recent fitout projects in major Australian cities

• Sydney: The Westfield Sydney shopping center underwent a $1.2 billion redevelopment in 2010, which included a major fitout project. The fitout cost for the project was not disclosed, but it is estimated to be in the hundreds of millions of dollars.
• Melbourne: The Emporium Melbourne shopping center underwent a $1.2 billion redevelopment in 2014, which included a major fitout project. The fitout cost for the project was not disclosed, but it is estimated to be in the hundreds of millions of dollars.
• Brisbane: The Queen Street Mall underwent a $100 million redevelopment in 2013, which included a major fitout project. The fitout cost for the project was not disclosed, but it is estimated to be in the tens of millions of dollars.

The fitout costs of shopping centres and retail spaces in Australia are influenced by a variety of factors, including the type of retail space, materials used, and location. As the market continues to evolve, retailers must balance cost considerations with the need to create engaging and functional retail environments. Key recommendations include investing in sustainable materials, leveraging technology for efficiency, and planning for regulatory compliance early in the project lifecycle.