We’re then still seeing the typical influx of visitors on Friday nights and across the weekends,” he said.Īnalysis by the City of Melbourne showed that Fridays and Saturdays have led the CBD recovery. These new patterns of movement have translated to increased bookings and activity amongst restaurants and bars in Thursday nights in particular as workers begin to wind-down from their week in the office. Mondays are slowly starting to catch up and Fridays continue to be a designated work-from-home day across the board for CBD tenants, Lockwood said. “Working from-home-arrangements are here to stay, and as we’ve seen workers figure out gradually how they want to split their week between home and the workplace it has become apparent that Tuesday, Wednesday and Thursday are the busiest for daytime trade, while bars and restaurants continue to receive a boost on these nights.Īctivity during Tuesday to Thursday continues to be stable heading into summer, Melbourne’s average office occupancy lifted from 45% to 57% in November, according to the Property Council of Australia, driving trade both through the day and at night. “We’ve seen an increase in weekend visitation with numbers predominantly centralised around hospitality venues and event spaces. Foot traffic generally in January is up 20% on pre-pandemic levels.” “Weekday enquiry has picked up, particularly from Tuesdays to Thursdays, while City of Melbourne data showed weekend visitation rates heading into summer were actually higher than pre-pandemic 2019. There’s clearly confidence that the workforce will continue to steadily return in 2023 and businesses are making commitments based on these expectations,” said James Lockwood. “We’re seeing suburban traders making the considered move into the CBD. 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. 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. “There are multiple tenants with a successful track record of CBD trade that have witnessed the post-COVID rebound in CBD visitation for themselves, and have decided to invest further in the city and open new locations,” said Fitzroys’ Travis Keenan. Cuff has built a thriving business after opening up at number 6-8 through the City of Melbourne and Victorian Government’s Shopfront Activation Program, and has now signed a 2.5-year lease at $1,100 per sqm.Īnother 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. As the business has grown and flourished, it became evident that a larger space was required, and so it has committed to moving into the larger adjacent property at number 12.Īlso in Howey Place, bespoke garment maker Mr. In Howey Place, Union Kiosk has seen fantastic success since it relocated and opened its doors in the laneway six months ago. They’ll open at Shop 4, 237-239 Flinders Lane. Headlining the deals is a lease to Mörk, which expanded into the city two years ago – into a 7sqm lift shaft in Equitable Place – and has enjoyed ongoing success, prompting owners Kiril and Josephin to open a second CBD location at 13 Centre Place on a long 5+5-year deal.Ĭlose by, fashion and streetwear retailer Underground Archive, which focuses on the secondary market for preloved designer goods, has chosen Flinders Lane to open its first physical store after being based online, building and trading to a loyal customer base for the past seven years.
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