New empty shopfront report reveals surprise millions filling SA coffers
SA would miss out on a significant economic boost without a key project targeting “tired and empty spaces” across the city, a new report has found.
A new Economic Impact Report prepared by Adelaide University has uncovered the true value a Renew Adelaide programme described by City of Adelaide Lord Mayor Jane Lomax-Smith as “unique”.
The report found Renew Adelaide – which provides startup businesses with free tenancies in under-utilised offices and shopfront across Adelaide – found the program generated an estimated $5.6 million across the 2024 to 2026 financial years.
It comes as the program – which started in 2010 and is behind the bricks-and-mortar success of Adelaide businesses like Pink Shorts Press, Frida Las Vegas and Paper Scissors Wool – announced its strongest figures to date.
In the 2026 financial year, which ended June 30, 2026, Renew Adelaide launched 21 businesses with a record 80 per cent converting to fully commercial leases. Of those, 80 per cent were led by women, the report that would be launched at Parliament House on Thursday said.
This led to 176 new direct jobs and a further 432 associated jobs across the state.
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In the 16 years since it started, the not-for-profit that is funded by the City of Adelaide had supported more than 340 businesses ranging from Van Brussel boutique to Ancient World off Hindley Street, to launch in SA.
According to the report, Renew Adelaide was delivering almost $14 returned for ever dollar spent.
Some of Renew Adelaide’s ventures
- Frida Las Vegas Story boutique and gallery in the CBD
- Vicious Video off Rundle Mall
- The Block on Hindmarsh Square
- Hellbound Wine Bar in the East End
- Project Burrata
- Paper Scissors Wool in Rundle Mall
- Adario’s Aroma Bar in North Adelaide
- Honeydripper in the East End
- The McKell Institute thinktank in Rundle Mall
- The Museum of Storytelling gin in Rundle Mall
- Dulcie’s Vintage in Rundle Mall
Lomax-Smith said the program was “as important an ingredient to the allure and success of the City of Adelaide as the ability to have a $20 Coopers Stout at the Exeter Hotel or pick up a piece of vintage clobber from Midwest Trader”.
“Over almost two decades, Renew Adelaide’s presence in the city is hard to miss,” Lomax-Smith said.
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“If you’ve walked past a cosy wine bar off Hindmarsh Square, a gothic boutique or a local publisher in Adelaide Arcade; you’ve witnessed their work in action.”
Renew Adelaide CEO Gianna Murphy said the figures had improved “significantly” since Deloitte was commissioned to produce a similar economic impact report in 2018.
“Since our establishment in 2010, supporting over 340 businesses to launch in SA, Renew Adelaide has evolved into a sophisticated urban renewal program that’s mastered the all-important balance between grassroots cultural vibrancy and direct economic returns for the community,” Murphy said.
“The Adelaide University report, highlighting a $13.70 return for every $1 of invested funds, demonstrates that the organisation is an integral part of supporting SA’s economy to diversify and thrive.
“With over 1600 people waiting to activate a space as at July 2026, there’s no shortage of South Australians with a dream, ready to back themselves.”
City of Adelaide Minister Lucy Hood said the results reflected the “incredible work of Renew Adelaide to take tired and empty spaces and turn them into local success stories”.
“We’re seeing more activations grow into thriving long-term venues, driving investment, jobs and activity in our CBD.”
Without the program, Adelaide University found that Adelaide would miss out on up to $3 million annual economic activity and vacancy rates would increase across key precincts.
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