Toronto Yorkdale Shopping Centre | ?m | ?s | Oxford Properties | MMC Architecture

Yorkdale has bicycle parking at the south end near Holt Renfrew. It's comfortable and easy to cycle through the Lawrence Heights neighbourhood from the south to the mall via Yorkdale Park.
 
Yorkdale is turning into one of those malls where it is increasingly becoming difficult for "regular" customers to shop, the number of high end stores is turning allot of people away towards malls like Vaughan Mills and the outlet mall in Halton Hills.
 
David-The-Realtor said:
Yorkdale is turning into one of those malls where it is increasingly becoming difficult for "regular" customers to shop, the number of high end stores is turning allot of people away towards malls like Vaughan Mills and the outlet mall in Halton Hills.
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As long as their per Sq ft sales continue to be some of the highest in north American I don't think they care.
 
sixrings said:
As long as their per Sq ft sales continue to be some of the highest in north American I don't think they care.
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Like most malls, its probably a percentage lease so the higher the cost of the goods= higher gross profit which in turn equals higher percentage rent for the Landlord.
 
Most large cities have at least one luxury shopping mall so there isn't anything necessarily wrong with Yorkdale becoming more luxury-oriented. In fact, it seems to have given them a major edge over other malls in North America as their $/sq ft are second only to Cesar's Palace in Las Vegas. You're likely to see more free-standing boutiques from the likes of Jimmy Choo, Porsche Design, Versace, Henri Bendel, and Emporio Armani pop up at Yorkdale when the next addition is complete. Saks Fifth Avenue is also a likely contender to take over the space Sears is vacating this spring.
 
No one pays percentage rent anymore - it's tantamount to advertising your sales volume which tells everyone, especially competitors - how you are doing. Most, if not all, retailers stopped paying percentage rent years ago.
 
Big Daddy said:
No one pays percentage rent anymore - it's tantamount to advertising your sales volume which tells everyone, especially competitors - how you are doing. Most, if not all, retailers stopped paying percentage rent years ago.
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The LandLord doesn't publish what tenants pay them...:rolleyes:

The last time I looked (which was admittedly about 5 years ago) there were quite a few tenants in Yorkdale which were paying percentage rent.
 
I know Apple is paying percentage rent at Yorkdale. And I know Eaton Centre still does it too. I think any substantial, better mall still does percentage rent. Everyone would have to sign an NDA as well, so that no one finds out other stores' sales.
 
Edward Skira said:
Always wondered about that. How does one keep the retailer honest? Does the landlord have access to the cash receipts somehow.
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All retailers except for the anchors report sales to the centre LL. It's spelled out in their leases. Even if they aren't on a % rent deal, they must report sales on a monthly basis. The only exception in Canada is with the outdoor centres, like power centres, opena-air centres, etc. In the US, sales are reported in all types of retail formats, including power centres. That's why they have so much more sales comp data that gets distributed throughout the industry through a variety of 3rd party companies. In Canada, if you ask a mall LL how a particular retailer is doing, they will share their sales numbers and overall sales productivity. It's just not made public.
 
David-The-Realtor said:
Yorkdale is turning into one of those malls where it is increasingly becoming difficult for "regular" customers to shop, the number of high end stores is turning allot of people away towards malls like Vaughan Mills and the outlet mall in Halton Hills.
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I disagree. There are plenty of shops for "regular" customers at Yorkdale. The mall is just expanding by creating a bit of a luxury district around Holts and the new wings of the mall. Yorkdale is simply catering to the suburbanite high end shopper that may not want to head downtown for the high end stores. Yorkdale is making these high end brands more accessible to the non-downtown shopper.

Technically, Yorkdale is in a perfect location. They can attract the suburbanite, but also the downtowner with the subway connection. Probably a reason a lot of American retailers open up their first location at Yorkdale.
 
David-The-Realtor said:
Yorkdale is turning into one of those malls where it is increasingly becoming difficult for "regular" customers to shop, the number of high end stores is turning allot of people away towards malls like Vaughan Mills and the outlet mall in Halton Hills.
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But even if this was true, so what? It is not a bad thing to have luxury destinations in our city. These kinds of amenities attract wealthy investors who may want to live in or visit Toronto. If someone is not looking for high-end stores, there are many other nice malls for that. However, having variety is important!
 
Those photos are great. The mall looked gorgeous in its early days. Does anything, from what is shown in those photos, still exist; minus the Simpson's stalagmite ceiling? That winding staircase and flower-shaped pods are gone, right?
 
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