Fitzroys Market Report - Melbourne CBD

Little Collins Street

Elizabeth St – Spring St

Includes: Block Pl, The Causeway, Howey Pl, Westwood Pl, McIlwraith Pl.

18.5%

Little Collins Street has traditionally been a home for home to a number of fashion boutiques, and specialty retailers today include Seiko Boutique, Patagonia, Sole Motive, and Jay Dillon. It has also developed a strong hospitality offering; restaurants include new Asian and native Australian fusion restaurant ARU, Italian restaurant Il Bacaro and steakhouse Meat Maiden, while a number of classic Melbourne laneways home to a bevy of bars and cafés run off Little Collins Street, such The Causeway, Russell Place and Meyers Place.

Retail Core

La Trobe St – Russell St –Flinders St – Elizabeth St

17.1%

Melbourne’s Retail Core takes in major thoroughfares Swanston Street, Bourke Street Mall, Collins Street and Elizabeth Street, and includes Chinatown as well as laneways Crossley Street, Southern Cross Lane and Russell Place. More than one third of all tenancies are currently occupied by food and beverage operators, while vacancy is currently at 17.1%. Much of the city’s Retail Core is undergoing a transformation phase with the ongoing development of the Town Hall and State Library Metro train stations, which will bring yet more visitors directly to the heart of the CBD.

Russell Street

Flinders St – La Trobe St

16.5%

The eastern edge of the CBD core and gateway to the “East end” has a high proportion of food and beverage operators – accounting for more than 40% of tenants – including Andrew McConnell’s recently opened Gimlet at Cavendish House on the corner of Flinders Lane. Russell Street begins from Federation Square and The Forum in the south and at its north borders QV Village and RMIT University before the street turns into Melbourne’s worldfamous “Little Italy”, Lygon Street.