Melbourne’s laneways are becoming the destination of choice for international retailers amid an influx of big name brands into some of the city’s most exclusive tucked away pockets.
CBRE’s Zelman Ainsworth said the City of Melbourne’s laneway activation program was helping drive a wave of new store openings in revitalised laneways across the city, with laneways increasingly being viewed as the premier position for both local and foreign brands.
“The City of Melbourne has a proven record in turning its laneways into a retail and hospitality experience. The council’s Green your Laneway project will further enhance some of these hidden parts of the CBD, creating ‘destination laneways’ that are now extremely sought after,” Mr Ainsworth said.
“Some of the more premium laneways like Degrave, ACDC, Hardware Lane, St James Lane and Block Place are commanding record rents, underpinned by the major tourist attractions and shortcuts these laneways provide to cut through the CBD whilst also enjoying architecture, live music and premier retail.”
Highlighting the strengthening appeal of Melbourne’s laneways is UK-based Rapha’s recent commitment to its newest outlet on Guildford Lane.
Rapha is one of the world’s most successful premium cycling retailers, with an impressive retail network of Clubhouses in major cycling cities around the world including London, Chicago, New York City, Tokyo, Seoul, San Francisco, Sydney and Amsterdam.
Mr Ainsworth said Rapha was further attracted to Melbourne given the strong focus on end of trip facilities in major office towers.
“A number of Melbourne’s largest office towers are investing into first class end of trip facilities - most notably, Rialto, 525 Collins Street and 555 Bourke Street – which is further supporting a strong cycling culture,” Mr Ainsworth explained.
The international cycling clothing retailer has signed a 10-year lease on its new premises at 32 Guildford Lane, comprising a two-level warehouse with net lettable space on each floor. The annual net rental is $250,000
Rapha’s Head of Asia/Pacific, Luke O’Shea, commented: “Melbourne has one of the strongest and most vibrant cycling cultures and communities within the world. We want to celebrate this and create a place that will build on the presence we’ve built in the city over the last 10 years.
“The new Clubhouse will be one of our largest globally, combining retail, café and exhibition space under one roof. Our 10,000 Rapha Cycling Club (RCC) members across the globe, along with cycling fans and enthusiasts alike will have another unique place to meet, ride, talk and experience the world of cycling.”
Mr Ainsworth said the deal demonstrated the success of Melbourne’s laneway activation program.
“Guildford Lane is one of four laneways included within the innovative Green Your Laneway project, which is aimed at transforming underutilised pockets of the CBD into green, useable spaces conducive to dwelling and relaxing,” Mr Ainsworth said.
City of Melbourne Prosperous City Portfolio Chair Kevin Louey welcomed Rapha’s decision to take a lease in Guildford Lane.
“Melbourne is home to the biggest names in fashion and retail and we’re delighted that another global brand has chosen to set up in the city,” Councillor Louey said.
“Our laneways are internationally renowned for their eclectic culture and charm. They are a sought-after and diverse retail hotspot where high-end brands are found right next door to cool local boutiques and cafes.
“We are continually investing in our laneways and under our Green Your Laneway project, Guildford Lane will be transformed into a leafy and sustainable refuge right in the heart of the city.”
CBRE’s Zelman Ainsworth said the City of Melbourne’s laneway activation program was helping drive a wave of new store openings in revitalised laneways across the city, with laneways increasingly being viewed as the premier position for both local and foreign brands.
“The City of Melbourne has a proven record in turning its laneways into a retail and hospitality experience. The council’s Green your Laneway project will further enhance some of these hidden parts of the CBD, creating ‘destination laneways’ that are now extremely sought after,” Mr Ainsworth said.
“Some of the more premium laneways like Degrave, ACDC, Hardware Lane, St James Lane and Block Place are commanding record rents, underpinned by the major tourist attractions and shortcuts these laneways provide to cut through the CBD whilst also enjoying architecture, live music and premier retail.”
Highlighting the strengthening appeal of Melbourne’s laneways is UK-based Rapha’s recent commitment to its newest outlet on Guildford Lane.
Rapha is one of the world’s most successful premium cycling retailers, with an impressive retail network of Clubhouses in major cycling cities around the world including London, Chicago, New York City, Tokyo, Seoul, San Francisco, Sydney and Amsterdam.
Mr Ainsworth said Rapha was further attracted to Melbourne given the strong focus on end of trip facilities in major office towers.
“A number of Melbourne’s largest office towers are investing into first class end of trip facilities - most notably, Rialto, 525 Collins Street and 555 Bourke Street – which is further supporting a strong cycling culture,” Mr Ainsworth explained.
The international cycling clothing retailer has signed a 10-year lease on its new premises at 32 Guildford Lane, comprising a two-level warehouse with net lettable space on each floor. The annual net rental is $250,000
Rapha’s Head of Asia/Pacific, Luke O’Shea, commented: “Melbourne has one of the strongest and most vibrant cycling cultures and communities within the world. We want to celebrate this and create a place that will build on the presence we’ve built in the city over the last 10 years.
“The new Clubhouse will be one of our largest globally, combining retail, café and exhibition space under one roof. Our 10,000 Rapha Cycling Club (RCC) members across the globe, along with cycling fans and enthusiasts alike will have another unique place to meet, ride, talk and experience the world of cycling.”
Mr Ainsworth said the deal demonstrated the success of Melbourne’s laneway activation program.
“Guildford Lane is one of four laneways included within the innovative Green Your Laneway project, which is aimed at transforming underutilised pockets of the CBD into green, useable spaces conducive to dwelling and relaxing,” Mr Ainsworth said.
City of Melbourne Prosperous City Portfolio Chair Kevin Louey welcomed Rapha’s decision to take a lease in Guildford Lane.
“Melbourne is home to the biggest names in fashion and retail and we’re delighted that another global brand has chosen to set up in the city,” Councillor Louey said.
“Our laneways are internationally renowned for their eclectic culture and charm. They are a sought-after and diverse retail hotspot where high-end brands are found right next door to cool local boutiques and cafes.
“We are continually investing in our laneways and under our Green Your Laneway project, Guildford Lane will be transformed into a leafy and sustainable refuge right in the heart of the city.”
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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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
