Village Heart Marketing Fund

City of Prospect has introduced a Separate Rate in Prospect’s Village Heart. It is anticipated this would be the basis for a fund which could raise up to $10,000, commencing in the 2017-18 financial year.

Where would the separate rate apply?
The Separate Rate would be applied to all nonresidential properties on Prospect Road’s Village Heart / High Street Policy Area between Gladstone/Barker Roads and Daphne Road/Milner Street. Businesses which hold multiple adjacent tenancies are eligible for a rebate; application forms for rebates are available on Council’s website and must be submitted prior to the first payment on 1 September 2017.

Main street challenges
Main streets like Prospect Village Heart are in competition with a wide range of other main streets and retailers, including the Parade at Norwood, Burnside Village, O’Connell Street North Adelaide and Adelaide’s CBD. There is also competition from new ‘big box’ shopping precincts on Churchill Road North and at Gepps Cross.

Why separate rates?
Separate rates are widely used to promote business areas and main street zones. Some of these locations include Unley Road, King William Road, The Parade and Jetty Road. Online shopping and the entrance of large players such as Amazon provide further challenges. However, Prospect Road’s Village Heart is a ‘lifestyle’ precinct and may not be as severely affected by online shopping.

Village Heart Marketing Fund options
The Separate Rate may be utilised to meet these challenges by developing a destination marketing campaign. Businesses, property owners and Council need to consider how to market this precinct as one of Adelaide’s best lifestyle precincts. It has a unique combination of fashion outlets, patisseries and bakeries, restaurants and cafes and co-working spaces for business professionals.

How will funds be spent?
It is hoped that, with our proactive business community, we can develop an agreed strategy on how funds may be best used in a Council-led campaign or project. In May 2018 the Council will again consult with business and commercial property owners in the Village Heart to determine whether the Village Heart Marketing Fund program is achieving the desired outcomes and should be applied for a further period.

Previous Meeting:
Village Heart Separate Rate Meeting
Tuesday, 22 August City of Prospect, 128 Prospect Road9:00am – 10:30am

Next Meeting:
Village Heart Marketing Fund Committee MeetingThursday, 7 September City of Prospect, 128 Prospect Road8:00am – 9:30am

If you wish to attend, please email networkprospect@prospect.sa.gov.au.