Young will have one less store after Christmas with Target Young shutting down.
The former GJ Coles Variety Store, Coles-Fosseys and Target Country store will be closing on Saturday, December 29 due to a lease expiry, according to a Target spokesperson.
“Our Target Young store will be closing on December 29, 2018 due to a lease expiry. We’d like to thank our Young store team, the local community and all of our customers for shopping with us,” the spokesperson said.
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The building has had continued tenancy since it was built by Tom Tester in the 1940s for GJ Coles Variety Store.
It traded by the GJ Coles Variety Store company name until the early 90s when it became known as Coles-Fosseys.
It was later established as Target Country.
Local real estate agent Barton Property Young has sold the building four times since 1988 while leases have renewed.
The agent who negotiated all four sales, John R Barton, is confident the space will lease early in the new year or otherwise be sold as vacant possession.
“It’s situated in Young’s oldest flagship retail building, has been extensively refurbished over years and is surrounded by several national store outlets and the town’s successful central business,” Mr Barton said.
“Target’s decision to close the store, whilst disappointing, will allow another retailer to occupy this prime blue ribbon street location.”
First buyers of the building were Canberra based owners, former Cannons Supabarns Stores, who acquired former Wright Heaton building at the rear of store on the same day.
Cannons moved to Temora building a new supermarket.
The building sold to Canberra chain outlets Reselling in 1989, then in 1991 the store ownership sold to a local orchardist and the building was extensively upgraded, extended to laneway allowing expansion of business, additional retail space and storage, included modern display window frontage, lower ceilings, new lighting, enhanced presentation and customer appeal.
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Around 1998, the Coles-Fosseys name change occurred and the building was sold to a city investor who remains the owner today.
“Many locals and out of town shoppers will certainly miss entering the iconic building, but expectations are that a new retailer is shortly forthcoming,” Mr Barton said.