Leasing ladder: Hair salon takes up historic arcade space in Melbourne CBD at $1,600 per square metre

Hair salon Clash City Cuts has taken up space in the heritage-listed Capitol Arcade, which runs through what was once the auditorium of the Capitol Theatre, between Swanston and Little Collins streets in the Melbourne CBD.

The arcade is next door to the iconic, neo-gothic Manchester Unity Building and across the road from the Melbourne Town Hall.

Clash City Cuts (pictured below) has agreed to lease shop five at 109-117 Swanston Street for four years with renewal options at a rate of $1,600 per square metre net.

The lease was negotiated by Andrew Hewett of Fitzroys on behalf of a private investor who has interests in other CBD properties.

Hewett says there was keen interest in the space from a range of tenants given its central location in the heart of Melbourne and the strong tenancy mix surrounding the property.

Immediate neighbours include Phillipa’s Bakery, Alannah Hill, 7 Angels and Jeans West.

The arcade is named after the Capitol Theatre, which was designed by Walter Burley Griffin and his wife Marion Mahony Griffin.

Burley Griffin trained with the famed American architect, Frank Lloyd Wright.

The theatre opened in 1924 and converted to a single-level cinema and shopping arcade in 1965.

The theatre was acquired by RMIT University in 1999.

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