This article is from the Australian Property Journal archive
FAIR Price Furniture has leased a 1,080sqm showroom in the Northland Homemaker Centre in Preston, which will be the site of its seventh Victorian store.
The five-year deal was negotiated by CBRE’s Chris Parry, with market rents in the Centre ranging from $250 and $330 per sqm net.
The centre includes major retailers Freedom Furniture, Fantastic Furniture, The Good Guys and Plush.
Parry said the Fair Price Furniture agreement followed a flurry of recent activity in the Preston retail precinct, with a number of major national retailers currently targeting this area.
“Demand for showrooms in Preston is currently at an all-time high, as witnessed with the recent leases at the Bell Street Showrooms to retailers including Adairs and Baby Bunting, agreements at 86 Bell Street, and the establishment of JB Hi-Fi, Super Amart Furniture and Beacon Lighting at 23 Bell Street,” he said. “This demand is contributing to a number of Preston retail locales now boasting no vacancies.”
Australian Property Journal
