This article is from the Australian Property Journal archive
A RETAIL shop space in Melbourne’s popular northern CBD fringe suburb of Fitzroy has been leased within three weeks of listing.
Philip and Lea Homewares signed a five-year deal with a five-year option over the 116 sqm store at 65 Gertrude Street at $85,000 per annum net.
Teska Carson’s Fergus Evans and Matthew Feld negotiated the lease on behalf of a Melbourne-based investor.
“Leasing a retail space of this size just three weeks after listing is a pretty good reflection of just how great the demand for retail space in and around Fitzroy has become in recent times,” Evans said. “A corner site in one of Melbourne’s best and coolest boutique locations, that also offers parking options and public transport at the door, is that much more attractive.”
He said population growth and the explosion of new apartments and mixed-use development in and around Fitzroy had bolstered retail catchments and become an additional market driver.
Australian Property Journal
