[ACT7]

Please read. It used to be 350. It's 291$ now.

http://www.thestar.com/business/201...sive_retail_spot_where_did_toronto_place.html

Well, in speaking with C&W brokers who work Yorkville, peak rents are still hovering around $330/ sq ft for prime spaces on Bloor. You have to remember that what these reports cite are not the average rent on the street, but rather could represent a single transaction. Either way, I'm still sure why you think there are so many vacancies on Bloor. It's nothing unusual.

 

[ACT7]

To avoid some confusion, one other thing I'd like to point out is that these lease rates are always quoted in USD, so $291 USD is about $330 CAD right now. This is always the problem with these kinds of surveys - same as cost of living ones - that benchmark everything against the USD.

 

[TOareaFan]

That's not true. Rental rates have gone up to around $330/sq ft and landlords are in no hurry to lease their space out to just anyone. There was an entire article about that very thing not too long ago. Tiffany is a huge space for one retailer to take so either it gets divided or it gets configured in a way that makes sense to someone like Dior. Plus I'm not sure that there are an abnormal amount of spaces available for lease. No more than in the past, but I think this time around, the idea is to not go mid-market but rather almost entirely luxury.

I don't think landlords are as worried about that sort of thing as you might think. They are concerned about generating the highest possible net income from their properties as possible.....the reason they "target" luxury retailers is likely just a recognition that they are highly aware of the concept of GROC ratios in retail and if they are going to charge $300+ psf rents there are only certain types of retailers that can generate the appropriate Gross Revenues to support that level of Occupancy Costs.

 

[taal]

Fairly sure Yorkville has indeed been impacted by Yorkdale, in a big way ! Mind you demand is still fairly strong but if Yorkdale didn't go the route it did I think we would see even more demand when compared to today.

You know what I'd love, forget high end retail, bring in some high end restaurants to Bloor in the few vacancies, I know it takes space away from retail but it would make the street much more vibrant !

 

[ACT7]

Fairly sure Yorkville has indeed been impacted by Yorkdale, in a big way ! Mind you demand is still fairly strong but if Yorkdale didn't go the route it did I think we would see even more demand when compared to today.

You know what I'd love, forget high end retail, bring in some high end restaurants to Bloor in the few vacancies, I know it takes space away from retail but it would make the street much more vibrant !

I'm sure it did too, but Yorkdale offered the right sized space for retailers. If Bloor/Yorkville had the right kind of space (i.e. more spaces in the 3,500-5,000 sq ft range) you would have seen the same influx of retailers in Yorkville as there have been at Yorkdale. That said, I think you'll see Bloor pick up some of the same retailers as Yorkdale anyway - Ferragamo, Versace, Bvlgari, etc...

I don't think I'd like to see more restaurants on Bloor. I think, first off, you run the risk of big chain restaurants taking those kind of spaces, which really just leads to 'tourist trap' type restaurants. No thanks...
And restaurants don't necessarily create street vibrancy anyway. Bloor is plenty vibrant as are Yorkville and Cumberland, especially in the summer.

 

[prosperegal]

The Toni&Guy on Bloor, west of Avenue Road has changed its name to Definity Salon.

 

[vatche]

For now ferragamo is not planning on opening on bloor.

 

[ACT7]

For now ferragamo is not planning on opening on bloor.

How do you know that? A broker representing them says otherwise.

 

[vatche]

I wrote to them and they responded.

Thank you for your message and your interest in Salvatore Ferragamo.

In regard to your inquiry, we are sorry to inform you we do not have any future plans for opening a boutique in downtown Toronto.

We have recently opened a boutique in Yorkdale mall. Their address is as follows;

3401 Dufferin Street Unit 161A

Toronto, ON M6A 2T9

We have forwarded your suggstions to the appropriate department.

We remain at your disposal if you need any further information.

Sincerely,

Danielle
Salvatore Ferragamo Client Service

 

[ACT7]

I wrote to them and they responded.

Thank you for your message and your interest in Salvatore Ferragamo.

In regard to your inquiry, we are sorry to inform you we do not have any future plans for opening a boutique in downtown Toronto.

We have recently opened a boutique in Yorkdale mall. Their address is as follows;

3401 Dufferin Street Unit 161A

Toronto, ON M6A 2T9

We have forwarded your suggstions to the appropriate department.

We remain at your disposal if you need any further information.

Sincerely,

Danielle
Salvatore Ferragamo Client Service

Right, and I wrote to Moncler and Bvlgari last year and asked them if they planned on opening in Toronto and they both replied with a 'No'. Retailers aren't always interested in sharing their plans with complete strangers...

 

[vatche]

I guess that makes sense.

 

[Skeezix]

Unless they've signed a lease, I can't imagine that they would respond any other way, even if they were actively trying to secure space.

 

[ardwold1]

Kiton, apparently nearing completion- sign reads "Almost Ready"

 

[gabe]

I think Kiton will be the most expensive menswear store in Toronto, if not Canada. Shirts start about $500 to over $1000. Ties $300 and up. Suites are 5k to over 50k It's one of those "If you have to ask how much it costs, you probably can't afford it " stores. They only have 3 other locations in North America. New York, Miami, Las Veags. I have walked by the Kiton store in Vegas and the flagship store in NYC, they are gorgeous looking stores.

 

[Hamiltonian]

Really interesting building...