Aussie fashion label Gorman snaps up Swanston Street lease

Aussie fashion label Gorman snaps up Swanston Street lease
Aussie fashion label Gorman snaps up Swanston Street lease

Australian fashion label Gorman has taken up a nine year deal for leasing 135 Swanston Street, at the corner of Little Collins Street in Melbourne.

Fitzroys City Retail Team’s Charles Emmett and Michael Rainey were those behind the deal in the CBD.

The shop, covering 100 square metres, has a suggested rent from $3,500 to $5,000 per square metre based on similar sized opportunities along the strip.

Leasing executive for Fitzroys, Michael Rainey, said that it’s a watershed deal for Swanston Street, and expects it will attract quality fashion on this side of Melbourne.

However, the suggestion is that this isn't a standalone for the street.

“The deal follows Platypus opening nearby a month ago and there are now a number of quality fashion tenants circling 123 Swanston Street, which Fitzroys is currently leasing,” he said.

The new leasing opportunity is on the Western side of the street, and is near Politix, Virgin Mobile, Tesltra, Footlover, Uniglo, Quicksilver and Optus. It likely expects more rent, at 111 square metres and with a 96 square metre basement.

Last week Property Observer reported on a surge in fashion houses looking to rent spaces at the base of CBD office towers.

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

Tags: 
Melbourne Retail Leasing

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