Briefcase: South Africa business extracts
In this week’s briefcase, CBD high streets rebound with lower vacancy rates following an increase in consumer spending, a northern suburban 3D printing firm gains major global certification, and an engineering firm du Mile End earns a top workplace ranking.
The city’s shopping streets rebound
The number of vacant storefronts on Rundle and Hindley St fell significantly in the six months to March this year, due to increased consumer spending and the easing of COVID-19 restrictions.
JLL’s latest retail vacancy figures show Rundle St’s vacancy rate fell from 13.7% in the third quarter of 2021 to 9.5% in the first quarter of 2022.
The vacancy rate drop of 4.2 points was the highest of all seven shopping streets measured by JLL.
Hindley Street came in second, with the vacancy rate dropping from 17.3% to 15.2%.
At the other end of the scale, Glenelg’s Jetty Road saw the largest increase in vacancy rate – rising 4.1 points from a low base to 8.8% in Q1/22.
Prospect Road also saw the vacancy rate rise from 3% to 4.5%.
This is the opposite of a trend seen throughout the first two years of the pandemic, when demand for suburban storefront space was booming as the CBD struggled to cope with the shift to more flexible working arrangements.
JLL attributed the latest result to the easing of COVID-19 restrictions and an increase in consumer spending levels. He also noted that a “gradual rebalancing” of remote work arrangements amid the pandemic has led to increased suburban store closures.
“We maintain our view that the medium-term outlook for Rundle Street is positive,” the report said.
“The neighborhood should benefit from the strip’s proximity to the fast-growing Lot Quatorze employment area.
“The recently completed Crowne Plaza Hotel, as well as residential developments like The Adelaidean, Realm and East End Apartments have also supported an increase in foot traffic.
“Furthermore, the number of international students is expected to increase in the year 2022 and beyond, supporting the growth of the CBD’s residential population.”
Five of the seven main shopping streets saw falling vacancy rates, with The Parade in Norwood performing the best of the suburban strips with a drop of 1.8 points to 4.6%.
The mixed vacancy rate on the seven shopping streets also fell, from 9.4% to 9%.
Global Accreditation for Adelaide 3D Printer
The AML3D northern suburbs metal 3D printer has received Additive Manufacturing Facility accreditation from the world’s largest classification society, DNV, with the certification giving the company access to a huge list of potential customers Of the industry.
The Edinburgh Park-based manufacturer – which 3D prints large-scale parts for the defence, manufacturing and mining industries – announced on Wednesday that it has received an “Approval of Manufacturer” certificate from DNV.
DNV is a multinational classification society that certifies materials and components for clients primarily in the marine industry. It provides services to more than 12,000 vessels and offshore units around the world.
DNV approval gives AML3D the ability to use its patented Wire Additive Manufacturing (WAM) 3D printing process to produce DNV steel for hull structures and equipment as well as copper alloys for valves and the fittings.
The company estimates that access to DNV’s customer base, along with the prior accreditations, means that AML3D now has access to nearly two-thirds of the global marine components market.
AML3D Managing Director Andrew Sales said AML3D said it will give them an advantage when applying for high value tenders and increase the number of contracts AML3D can apply for in the maritime sectors. , defense and oil and gas.
“DNV offers a wide range of customers, including a strong focus on the oil and gas sector, a key growth target for AML3D,” he told the ASX.
“This accreditation is a game-changer for us, in terms of being able to issue class certificates using our WAM process.
“We are very pleased to have a great relationship with DNV and to explore opportunities among their customer base.”
Shares of AML3D were trading at c$0.093 at the close of trading on Friday, up nearly 20% from the previous week’s close at c$0.078.
The second edition of South Australia’s Future Energy Week has been set for November 10-11 this year.
The event, organized by the Tonsley Future Energy Consortium, brings together industry, government, researchers and students for a two-day summit at the Tonsley Innovation District in South Adelaide.
Conference delegates will have the opportunity this year to join working groups on topics such as the future of mobility, the energy trilemma and the voice of First Nations.
They will also participate in the development of a set of agreements as a commitment and a call to action for Australia’s energy transition.
The Tonsley Innovation District will also open to showcase its hydrogen electrolyser and massive rooftop solar array to high school students attending the summit.
“Future Energy Week aims to collaborate, educate and elevate Australia’s responses to domestic and international energy challenges,” said event director Quentin Roberts.
“World-renowned innovators are already thinking, designing and collaborating at the forefront of cleantech and renewable energy innovation in South Australia.
“We want more organizations to join us and develop the breakthroughs that will power the planet of tomorrow.”
South Australian engineering company Nova Systems ranked 11e in an annual index listing the best places to work in Australia and New Zealand.
Compiled by Sydney-based workplace consultancy WRK+, the ‘2022 Best Places To Work’ index ranked Melbourne-based construction company Kapitol Group number one, followed by Sydney-based tech company hipages Group and software company Smokeball.
Nova Systems was the only South Australia-based company to make the top 20.
Nova Systems CEO Jim McDowell said the ranking was recognition of the company’s flexible working policies.
“The COVID-19 pandemic has taught us a lot about the importance of being flexible and agile to support wellbeing and ensure our employees are happy and thriving,” he said in a statement.
“Our employees have given us great feedback on our new core working hours of 10am and 3pm, as it gives them the flexibility to drop off or pick up the kids from school or go on an appointment and to complete their work when it suits them.
“We want our employees to love coming to work and we want to get the most out of our employees, so we are committed to innovating and evolving so that we can continue to strive to be the best place to work in the future.”
Adelaide marketing firm KOJO ranked 10th in WRK+’s best places to work with less than 100 employees.
The highest ranked company in the Under 100 Index was North Sydney accounting firm Stanford Brown Private Wealth.
Coopers Brewery has refreshed its branding for the first time in 20 years, unveiling new packaging for its ales and stouts and a new long-neck bottle.
The Regency Park brewer unveiled a refresh of the iconic Coopers roundel on Friday, complete with a larger Cooper logo and a barrel in the center.
The family business says the new look, commissioned from design agency Cowan, showcases Coopers heritage and brewing process with a more modern and clear design.
Coopers national marketing manager Kate Dowd said the refresh was well received by Coopers fans.
“The new design has been carefully developed with the goal of retaining our brand loyalists while recruiting new drinkers to the Coopers brand,” she said in a statement.
“The refresh brings overall consistency to the Coopers beer range and has been designed to stand out on shelves, making it easier for our fans to spot their favorite brew.”
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The refresh will apply to all Coopers beers and stouts, which make up the majority of the company’s portfolio, although it will not extend to the company’s lager products, such as Coopers Dry and Premium Light.
The company also says its 750ml long-neck range will be packaged in new lightweight bottles to minimize weight.
The new look will begin rolling out to liquor stores and pubs in September.
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