Toorak Op Shop agrees terms of a new lease

Toorak Op Shop has agreed terms on a new lease at Toorak in Melbourne’s inner east.

Teska Carson agent Tom Maule said the 150 sqm site at 1A Carters Avenue was let on a five year term at $47,500 per annum net.

This equates to $385 per sqm.

"The Op Shop required a larger, more modern space, and, if possible, greater exposure," Tom said.

"The Carters Avenue shop was a great fit and also offered rear access via a laneway."

The shop is located just off Toorak Road between Williams and Canterbury roads.

Tom said vacancy in the Toorak Road strip had been declining over the last few years with few options available to smaller retailers.