ACT7
Active Member
It may be considered luxury, but I don't see the space converting to mid-market. Unless it's a COS or Superdry or something that needs that kind of space. Which would frankly be disappointing.
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It may be considered luxury, but I don't see the space converting to mid-market. Unless it's a COS or Superdry or something that needs that kind of space. Which would frankly be disappointing.
Skeezix
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Yes, that's what you said above. I'm not sure even the existing Hazelton Lanes renovations would be completed in time to allow for the store to be relocated, but I was also referring to the possible expansion at Avenue and Yorkville (IIRC, in concert with Empire) which is presumably 2-3 years away at a minimum. I was mostly just alluding to the fact that a prospective cheaper lease at Avenue Road (*if* the rumours were true) would have helped them make the decision not to pursue lease renewals on Bloor. But I don't know if HL was ever actually an option/consideration.
Retail-Insider
Active Member
Williams Sonoma, Pottery Barn & Pottery Barn Kids will all be closing at 100 Bloor in early 2015. Confirmed by the company's VP of PR. Leaves about 37,000 sq ft of prime space beside the new Holt's Men's store. We'll likely report on it Monday.
gabe
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Retail-Insider
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Wow this will be a huge blow to the Bloor-Yokrville area
On the contrary - imaging what can be done with that space. Five substantial luxury flagships could move in, or possibly even Eataly (bAuHaUs and I were chatting about this earlier).
Skeezix
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I think it's a loss too.
pw20
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5 is a bit of a stretch considering part of the space is on the second floor.... Correct me if I'm wrong RI - the Landlord hiked up the rents considerably did he not? He would have given an option for PB/Williams to stay at the higher rates and they decided to leave. The landlord wouldn't have hiked up rents unless he was pretty confident he could find tenants to replace them at his higher rental price. Luxury has moved west on Bloor (from Ave to Bay) over the last 5 years, whereas when PB and WS opened the street was a bit more mid-market. It's a great opportunity for more luxury brands, which is what the street is evolving into. I remember when PB and WS opened the head of the BIA made a comment about them being "mall stores".
Retail-Insider
Active Member
Good point, and correct that there was a substantial rent increase. Last year I created this plan showing the space's possible subdivision. It's all speculative but gives you an idea of how the space could be subdivided. I'm honestly not sure what the landlord has in mind for 100 Bloor, beyond the new Holt's men's store.
In around 1999-2000, 100 Bloor was being shown to Donna Karan, Fendi, Dries Van Noten and a few other luxury retailers. The landlord ended up taking PB/WS because they took all the space at the full asking price.
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pw20
Active Member
That's interesting. Rents have increased dramatically since 2000. (I still think your frontages are small ; remember the cinema frontage can't easily be split up or subdivided). Its interesting that none of those retailers have a significant presence in Canada to this day. DK has a store in Montreal...
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Retail-Insider
Active Member
I'll agree with you there - three decent flagships could be more likely. It's no secret that some of the world's top luxury brand are scouting space on Bloor, and 100 Bloor will likely be leased quickly. I'm hearing Dior may have finalized a Bloor Street lease, and Ferragamo, COS, David Yurman and a few others are all looking for space. Bulgari is as well, though it's waiting to see how its Yorkdale store will do. Interestingly, Bulgari's Yorkdale sales targets are only $3 million this year - low considering Tiffany and Cartier are doing gangbusters in that mall.
pw20
Active Member
With the exception of the Tiffany space there isn't a lot of space for rent between Bay and Ave. Perhaps Dior took the old Tiffany location. I can see W-S coming back to the hood once Oxford finishes their Cumberland Terrace redevelopment. The base of that is meant to be two-story retail
marsh
Active Member
Wow this will be a huge blow to the Bloor-Yokrville area
Me too. I didn't shop much at WS but I did at Pottery Barn. I think there needs to be mix of retailers on Bloor - WS and PB aren't uber luxury but I don't consider them mid market . I think it would be a mistake for Bloor to be nothing but highend luxury clothing stores.
The one store I don't get is Winners - that I would like to see relocated. But If Winners can survive on Bloor why can't PB and WS?
Are we sure that the landlord isn't getting greedy in raising rents? These are big spaces to rent - and its seems there is still a number of spaces on Bloor that have yet to be leased. Or is Pottery Barn and Williams Sonoma simply not doing well financially?
Anyways, sorry to see them go.
taal
Senior Member
There seems to be a lot for lease near the new four seasons ? Have landlord's hiked up rents in that area ? Maybe preternaturally though, I don't see anything being leased ?
I'm ok with ultra high luxury in that small stretch I don't think there needs to be a balance, we have so many other streets where that can happen ... and I find Yorkville proper to the north tends to have a better balance anyway, with more restaurants as well.
The one observation I have: I find Vancouver tends to attract more mid tier brands to their streets ... whereas for us that's confined to the Eaton Center ... Queen W was kind of going down that route but I don't think that worked out, as we've seen a lot of stores have closed. Maybe it is our winters but we don't tend to have 'mall like retail' on our streets here to the same degree as say a Vancouver.
I'm ok with ultra high luxury in that small stretch I don't think there needs to be a balance, we have so many other streets where that can happen ... and I find Yorkville proper to the north tends to have a better balance anyway, with more restaurants as well.
The one observation I have: I find Vancouver tends to attract more mid tier brands to their streets ... whereas for us that's confined to the Eaton Center ... Queen W was kind of going down that route but I don't think that worked out, as we've seen a lot of stores have closed. Maybe it is our winters but we don't tend to have 'mall like retail' on our streets here to the same degree as say a Vancouver.
GKW
Active Member
I won't miss those stores...so, perhaps we should change the subject and finally mention the racist Eton window display that has made the news...photo and video in the link
http://www.citynews.ca/2014/08/08/shocking-storefront-display-in-yorkville-comes-under-fire/
http://www.citynews.ca/2014/08/08/shocking-storefront-display-in-yorkville-comes-under-fire/
pw20
Active Member
I think Bay Street is figuring itself out retail wise vis-a-vis its relationship to Bloor. I also think the year of construction didn't help and I think landlords have hiked rents thinking they can sail by on the proximity to Bloor Street. 5 years ago I think a lot of stores which were on Bloor (Perrys) moved to Bay Street as multi-national chains started hiking Bloor rents. I don't think that has panned out and I think retail on Bay will wind up being more service oriented (Starbucks, Sandwich Box) etc... tenants that can't afford Bloor have migrated to Yorkville and Cumberland and if the Hazelton Lanes redo works out that will reinforce the Westward migration of higher-end retail.
This is all just my opinion... I don't think the loss of PB or WS is a real concern. I think you have to think about who shops on the street (The typical Bloor consumer is either a Toronto local who lives in Rosedale or Forest Hill, a high performance tourist [typically Russian, Chinese or Korean] sprinkled with the occassional purchase by a 20 or 30 something downtown local). Not really sure Pottery Barn was EVER a great attraction for any of the above.
A Rosedale Matron has their own interior designer, tourists don't need furniture and the Pottery Barn was never the place a 20 or 30 something condo dweller was ever going to shop at.