Perth, 19 May 2015 – Fitness apparel and supplements specialist Muscle Arena has made its foray into bricks and mortar retail, trading a Fremantle popup shop and securing a prime spot at premium shopping centre The Colonnade in Subiaco.
The Perth-based retailer has capitalised on the growing health market, building a strong business online and at stands at gyms and fitness centres, before opening its 133 sqm store at 388 Hay Street, Subiaco.
CBRE’s Craig Olde, who negotiated the five-year lease on behalf of Hawaiian, said the property’s location strategically positioned Muscle Arena to leverage off the neighbouring Goodlife Health Club in Subiaco.
He commented: “The health and fitness industry continues to be a powerhouse for the retail market, with the 24 hour fitness trend going from strength to strength, as well as a bourgeoning market for supplements, health foods and, more famously, fitness and leisure apparel as demonstrated by Australia’s own Lorna Jane.”
Mr Olde went on to say the deal was evidence of Subiaco’s resurgence one of the city’s most popular retail hubs.
“While Subiaco has gained some media attention due to difficult retail conditions, recent news has focused around development approvals of high profile residential developments,” Mr Olde explained.
“This along with a moderation of retail rental expectations has seen Subiaco repositioning towards a more competitive footing with the recent retail hotspots of Mt Lawley, Leederville, and even Victoria Park.”
“Gross rents are generally in the $700/sqm to $1100/sqm range for quality sites on Rokeby Road, and although there is much grapevine talk of slashed rents, typically this is for sites that have quirks or issues.”
Women’s fashion retailer Zuma Originals, Menchies Frozen Yogurt and one of Perth’s first 7-Eleven stores are among some of the stores that have opened on Rokeby Road recently, with Stimulatte on Hay Street also recently extending its trade to offer a Tommy Sugo dinner offer.
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