Two fresh leases begin on Chapel Street retail offerings

Two fresh leases begin on Chapel Street retail offerings
Two fresh leases begin on Chapel Street retail offerings

Things Adorable, an overseas children’s toys and clothing retailer, and Melbourne Laser Clinic have both taken up leases on South Yarra's famous Chapel Street.

Fitzroys Agency Executive James Spencer negotiated the respective leases, at 539 Chapel Street and 552 Chapel Street, South Yarra on behalf of private investors.

Things Adorable will open their Melbourne flagship store at number 539 (pictured below), positioned between fashion labels Seed and Witchery.

The lease they signed was $95,000 per annum net for the 150 sqm space.

Two fresh leases begin on Chapel Street retail offerings

The two-level retail building has undergone a shopfront upgrade and is positioned in a high pedestrian traffic location near Toorak Road, opposite The Colonnade and Zimmermann.

Meanwhile, Melbourne Laser Clinic, which has an existing GP in the CBD, has committed to the 165 sqm space at 552 Chapel Street (pictured below) on a long-term lease of 10 years.

Two fresh leases begin on Chapel Street retail offerings

James Spencer said, "both properties generated interest from fashion retailers, hospitality operators and services operators alike."

Both properties leased by Spencer are located just metres from The Jam Factory, which is set to transform into a major $1.25 billion retail, cinema and office complex.

Projects are also underway at 402 Chapel Street, and 627 Chapel Street.

Tags: 
Retail South Yarra

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