News

Commercial Road an Advertisement for Prahran Renewal

Posted on 23rd September 2018

149 Commercial 1

Entertainment and functions operator, The Play Lounge, is looking to capitalise on the growth through Prahran, committing a two-level building for its new venue.

Fitzroys Agency Executive, James Spencer, negotiated the three-year deal with two four-year options over the 180 sqm building at 149 Commercial Road, at $50,000 per annum net on behalf of a private investor and developer.

Spencer said the clear benefit was that the property was positioned around such great operators who continue to perform well.

He said the uplift in enquiry and decreasing vacancy through Prahran and Windsor has come off the back of a great operators offering high quality food and beverage products.

“Commercial Road has a fantastic mix of food and hospitality operators including the Emerson, Carpe Diem Bar and of course the Prahran markets,” he said.

“The Play Lounge seized the opportunity to be positioned within the strong precinct. Vacancy has dropped significantly from the revitalisation of hospitality through of the Windsor end of Chapel Street and the surrounding strips.”