This article is from the Australian Property Journal archive
WOMENSWEAR label Mister Zimi has leased a prime retail space at Chapel St South Yarra.
Fitzroys’ Jordan Ceppi negotiated the four plus four-year lease for the 120 sqm premises at 555A Chapel St, at $145,000 plus GST and outgoings.
Ceppi said the strong rental and long-term lease achieved in the prime section of the iconic retail strip demonstrated the confidence businesses have in Chapel Street, South Yarra’s future prospects.
“The local residential population has continued to boom and is underpinning the future upside of the strip, led by the nearby Forrest Hill project that is home to nearly 4,000 residents and has seen around $2 billion worth of construction take place, as well as upcoming developments including the 50-storey Capitol Grand development on the corner of Toorak Road, and the 661 Chapel Street development,” he said.
“Tenants are starting to take note and we’ve seen a swell in enquiries from quality fashion, beauty and food and beverage tenants looking to take advantage of the area’s prospects.
“A label of the calibre of Mister Zimi selecting Chapel Street for its next site is the latest show of faith that the precinct is on its way up,” Ceppi said.
The 555A Chapel Street shop will be the husband-and-wife run label’s fourth outlet, following Melbourne sites in nearby suburbs Armadale and Albert Park, as well as Byron Bay.
Australian Property Journal
