Retail Demand On High Street, Armadale Spills Over To Offices

Posted on 16th February 2023

The ongoing demand from fashion boutiques to take up retail space in High Street, Armadale is spilling over to the popular shopping strip’s office space.

Luxury women’s fashion boutique Grace has leased Level 1, 1062 High Street to use as its offices after recently opening up its flagship store across the road at number 1065.

Fitzroys Agency Executive Hamish Dennis negotiated the 3+3+3-year lease on behalf of a private local investor. Rents for these types of spaces on High Street typically attract $300 to $350 per sqm.

Grace is expanding from its store in Church Street, Brighton.

According to Fitzroys’ latest Walk The Strip report, retail vacancies on High Street, Armadale came down from 9.1% in 2021 to currently sit at 5.1%.

“We received a couple of enquiries from fashion - mostly bridal - and retail operators wanting to use the space as an office close to their retail stores along High Street,” Dennis said.

Enquiries also came from digital marketing agencies, construction companies and a psychologist.

“The high amount of enquiry and short timing to lease the property suggests that boutique office space in Armadale is highly sought-after,” Dennis said.

“High Street, Armadale has reaffirmed its status as one of Melbourne’s best-performing shopping strips and retailers are clearly keen to establish both their shopfront and office operations in the strip.

“High Street services one of Melbourne’s most prized catchments, which has continually supported strong trading, and new developments are further activating the strip, attracting commercial and retail tenants and adding to the immediate catchment.”