Life is returning to Melbourne and businesses are taking advantage of lower rents. | simonjohanson
Tatum Hehir first saw signs of Melbourne’s recovery in March when regulars started coming back to the popular little takeaway vegan jaffle shop she co-runs in a bustling city laneway.
“We’re again seeing businesses prepared to make bigger commitments. The lease terms show tenants are confident in the CBD and are in it for the long haul,” Lockwood said.AdvertisementThe ANZ bank is taking over a 200 square metre former NAB bank space at 100 Exhibition Street on a five-year lease after NAB moved around the corner to 24 Collins Street.The lease, understood to have been in the market for around $400,000 a year in rent, was negotiated by Ainsworth Property.
“We’re seeing a lot more confidence come back into the market. There’s definitely a change, particularly a desire to have different size templates.” “It means there are less people out and about on those days, and it’s having an impact on the city’s small businesses in particular,” she said.
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