Monochrome Coffee and Tea leases prime Toorak Road space

Monochrome Coffee and Tea leases prime Toorak Road space
Monochrome Coffee and Tea leases prime Toorak Road space

Monochrome Coffee have secured a Toorak Road, South Yarra retail space, near the corner of Chapel Street opposite the 50-storey Capitol Grand tower.

Fitzroys Agency Executive James Spencer negotiated the five-year lease with a five-year option for Shop 4, 286 Toorak Road at $705 per sqm.

“This is one of the strongest results we’ve seen in that pocket of Toorak Road for some time,” he said.

“Toorak Road has evolved to become increasingly attractive for quality food and beverage operators, which was reflected in the high volume of enquiry we received from other hospitality businesses and the secure lease terms achieved.

“Recent residential and commercial developments within the Forrest Hill precinct has had a great positive effect for retailers along Toorak Road.”

He said the $450 million redevelopment of the Jam Factory precinct, the 50-storey Capitol Grand tower and introduction of the Aloft hotel nearby would create a further buzz in the area, and businesses on Toorak Road and Chapel Street would see a positive flow-on effect.

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Retail Toorak

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