A SHIFTING TENANCY MIX
Cushman & Wakefield surveyed the Melbourne CBD retail core on 13 March, 2020.
There are approximately 1,170 retail outlets in the core bounded by Swanston, Elizabeth, Collins and LaTrobe Streets. It includes multiple shopping centres and arcades, as well as laneways, basements and first floor retail outlets.
The 1,170 outlets occupy almost 153,000 square metres, making it one of the biggest concentrations of retailing in the country. Interestingly, when we compare it to a decade ago, there were less than 1,000 outlets in the same floorspace. Creating more retail in an existing floorspace has occurred in several locations, increasing efficiency and offer. When we compare the tenancy mix over that time, it has barely changed.
Today the tenancy mix in the CBD looks like this:
To discuss What’s Next in retail leasing, please reach out to the Victorian retail leasing team.