Food operator takes lease in Melbourne’s inner east

A food operator has agreed terms on a new lease at South Yarra in Melbourne’s inner east in a deal brokered by Teska Carson.

The 134 Toorak Road property spans 200 square metre and was let out at $150,000 per annum net, or $750 a square metre, on a five-year term. 

The retail space is part of Her Majesty’s Apartments development on the corner of Toorak Road and Davis Avenue.

The leasing agent was Tom Maule. The media release said it was a well-known food operator without revealing the name. 

“The location is well established and well known for its dining and fashion boutiques attracting clientele from all parts of Melbourne,’’ Maule said.

He said the tightly held retail precinct had one of the lowest vacancy rates of any retail strip in Melbourne at around 6 percent.