Melbourne, 21 November 2013 - A boost in Melbourne retail sales over the past few months is boosting activity within the city’s leasing market, with a number of international and national retailers looking to secure a CBD presence amid improving conditions.
According to CBRE Research, improved turnover levels in food, household & personal goods and clothing & footwear retailing has helped retailers reverse losses experienced in the early months of 2013.
CBRE leasing specialist Zelman Ainsworth said the Retail Services team has seen an increase in enquiries from retailers across all categories, with many retailers now prepared to execute expansion plans in the Melbourne CBD.
“As market conditions continue to improve, and confidence returns to the market, quality and boutique retailers are looking to put down roots in the Melbourne CBD,” Mr Ainsworth said, adding that there has also been a wave of boutique food and fashion retailers wanting to establish a presence in the Melbourne CBD.
“The Melbourne CBD retail market has always been saturated with national food and fashion retailers who have lacked creativity and personality that the boutiques thrive on, however, this is changing with retailers like Simply Spanish and Koy from South Melbourne recently securing leases in the Melbourne CBD.”
Other boutique retailers to secure space in the CBD include Famish’d, Pok Pok Brioche by Philip, CUBEC, Joe Black, Kenzo, Fonda, Earl Canteen and Huxtaburger.
Mr Ainsworth said he worked with new and innovative retailers to enter Melbourne’s tightly held CBD market, whilst ensuring they retain their point of difference and boutique culture.
For Australian/international news or global stories, follow us on Twitter.
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.