This article is from the Australian Property Journal archive
OUTDOOR and camping gear retailer Kathmandu has relocated to bigger premises at Bridge Rd Richmond, one of Melbourne's popular shopping strips.
Colliers International’s Mike Crittenden negotiated Kathmandu’s five-year plus five year lease of up 758 sqm of space at 549 Bridge Rd Richmond, previously occupied by Pulse Pharmacy.
The lease was negotiated on behalf of lessor Bridge Road Investments.
“Proving location is everything, Kathmandu has relocated from directly across the road into a superior tenancy offering significant exposure with two street frontages.
“This is a positive transaction in a strip currently suffering from its highest vacancy rate in five years (approximately 11%),” he added.
“Kathmandu’s relocation confirms the importance of location and prominence to the success of bricks-and-mortar retail.” Crittenden said.
Kathmandu’s property and leasing manager Mark Ashton said the retailer was excited to be opening their new expanded store.
“This move is part of executing our store network strategy, which includes securing high exposure locations in Australia’s key retail strips.
“In recent times, Bridge Road has received some negative press but we believe it holds its position as one of the city’s most popular strips,” Ashton said.
Property Review
