Fitzroys Market Report - Melbourne CBD

Another operator expanding within the CBD is Siam Botanical Massage, which currently trades within the Oaks Hotel on Collins Street, and has taken a 5+5-year lease at 122 Hardware Street, while Hunt Leather has moved from Little Collins Street, at the rear of the David Jones site, to the 271 Collins precinct on a 3+3+3-year term.

“There are multiple tenants with a successful track record of CBD trade that have witnessed the postCOVID rebound in CBD visitation for themselves, and have decided to invest further in the city and open new locations,” said Fitzroys’ Division Director, James Lockwood.

Meanwhile, two suburban operators will be opening up new stores in the CBD, on Makers Lane within the new NAB headquarters building at 405 Bourke Street.

Supernova Coffee, based on Glenferrie Road, Hawthorn, known for the Ninety

Plus coffee and the Yuzo offering that is amongst the most expensive coffee in Melbourne and on earth – selling for $198 per cup – will be opening up, while South Yarra French patisserie La Yeahllow will serve their elegant cakes and desserts from a new flagship in the building.

“We’re seeing suburban traders making the considered move into the CBD. There’s clearly confidence that the workforce will continue to steadily return in 2023 and businesses are making commitments based on these expectations,” said Lockwood.