FREQUENTLY ASKED QUESTIONS
I HAVE A BUSINESS IDEA. CAN RENEW ADELAIDE GET ME A SPACE?
If you have a business idea you’d like to get into a rent-free space through the Renew Adelaide program, just sign up for Available Space Alerts here. This is the quickest place to find out when a space becomes available. Because Renew Adelaide isn’t a property agent that sources properties for people, the best way to find out about spaces is to sign up for the alerts.
WHAT SORT OF VENTURES DOES RENEW ADELAIDE SUPPORT?
Renew Adelaide supports start-up enterprises that assist to revitalise urban areas through increased activity and foot traffic. This may be a retail outlet, cafe, studio, bar, office, gallery or anything derived from cultural and commercial activity. Our arrangements with property owners are on a flexible, rent-free licence arrangement.
Renew Adelaide does not support already tested commercial ideas that exist in a physical shop front, but rather new ideas waiting to be tested.
WHAT DOES RENEW ADELAIDE LOOK FOR IN AN APPLICATION?
While every project is different there are a few key things that we look for:
Attraction- Renew Adelaide aims to inject life into the city by filling empty spaces with something new and exciting. In order to achieve that, we want ideas that will attract people to the area. We also look for ideas that will make good use of the space and will activate it regularly.
Originality- We want ideas that bring something new to the city. The Renew Adelaide program is all about giving people the opportunity to test out their innovative ideas. We don’t want to compete with already existing businesses. Instead, we want to complement the area by bringing in something that doesn’t already exist in that precinct.
Clarity- We look for applicants who have a strong concept and a clear idea of what they want to achieve. While Renew Adelaide is all about testing out new ideas, leasing a commercial space is a big commitment so it is important that you are prepared for what that involves.
Fit- One of the most important factors we consider is whether an idea is the right fit for the space. Some spaces have limitations which make certain ideas unsuitable. We also don’t want a small operation that underutilises a large space as our goal is to activate the space.
Once we have identified the applications we think would be best for the space we submit them to the property owner who makes a final decision of which business is the best fit for their property.
WHERE DOES RENEW ADELAIDE OPERATE?
We currently work with property owners and provide opportunities in the Adelaide CBD via funding from the City of Adelaide and the Government of South Australia.
I NEED A SPACE A FEW MONTHS DOWN THE TRACK. CAN RENEW ADELAIDE HELP?
Maybe, and it’s all subject to the availability of a space. The best place to find out about spaces that are available is via our “Available Space Alerts” – Sign up here.
MY VENTURE IS BASED AROUND CERTAIN SPACE REQUIREMENTS, CAN RENEW ADELAIDE FIND ME THE PERFECT SPACE?
Renew Adelaide relies on the generous donation of spaces from property owners. In most cases, they have been vacant for sometime and are not perfect which is why Renew Adelaide looks for ventures that are cool and original but can easily adapt to any space. Any modifications to a space must have the permission of the property owner. It is also the responsibility of the participant to fund and execute modifications to the property.
I’VE FOUND A SPACE I WANT, CAN YOU HELP ME GAIN ACCESS VIA THE RENEW PROGRAM?
Renew Adelaide cannot specifically look for a property for your business idea, or seek to secure a space you have found. We work to complement, rather than compete with, the commercial real estate industry. We work with supportive landlords and property owners who have donated space to us to help find the most suitable flexible, rent-free tenant to help activate their space.
I'D LIKE TO DO A POP-UP SHOP OR EVENT. CAN RENEW ADELAIDE HELP?
The difficulty for Renew Adelaide is that there is little benefit for the landlord in event spaces. They don’t get their property activated in the same kind of way that a longer term tenant would benefit the space. Also, the prospect of attracting a commercial tenant through an event space is low. Many of the spaces we activate require some building works to get them ready for use, in the case of an event, it would be the tenant’s responsibility to invest in these works.
DOES RENEW ADELAIDE PROVIDE FINANCIAL SUPPORT FOR ITS TENANTS?
Renew Adelaide has funds to invest in upgrading spaces and how much is spent and what it is spent on depends on various things. Its priority investment is partnering with the tenant to invest in works that stay with the property such as cosmetic and base build upgrades. The tenant is responsible for investing in things that do not add value to the property long term, such as tenant specific fit out.
Renew Adelaide does provide a network of businesses that support its tenants. A list of them can be found here.