Melbourne, 30 April 2013- Local fashion retailer Little Lost Land has secured a new location at 178 Chapel Street, Windsor.
CBRE’s Zelman Ainsworth and Max Cookes negotiated the lease over the 65sqm retail outlet within one week of the For Lease boards being erected. The rental achieved was $800/sqm net per annum.
“Our team was inundated with enquiries from local retailers desperate to establish a presence in the Windsor precinct,” Mr Ainsworth said.
“There has been a significant amount of activity of late involving successful hospitality operators wanting to secure a presence at the Windsor end of Chapel Street. Examples include popular Vietnamese restaurant and bar Hanoi Hannah and their latest offering Saigon Sally which has regular queues to secure a table.”
Popular Mexican offering Fonda - which has been described as a casual accessible version of Mexican restaurant Mamasita - has also chosen Chapel Street, Windsor for another outlet.
The next test of the Windsor market will be the retail component of Caydon’s latest residential project Trilogi at 201 High Street. The project consists of 323 apartments and retail shops fronting High Street and Clifton Street.
“Our team is about to announce a leasing deal with a high profile hospitality operator on High Street and we are also dealing with a number of quality operators that have strong interest in securing a presence in this precinct,” Mr Ainsworth said.
CBRE Associate Director Max Cookes said the interest highlighted Windsor’s reputation as a magnet for food and beverage operators.
“A number of successful businesses have emerged over the past twelve months, and there is pent-up demand from hospitality operators seeking space,” Mr Cookes said.
“Our team is in final negotiations with a number of well-known operators that will further bolster this precinct.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.