Iconic fashion label Gorman is expanding its Melbourne CBD shop in a crucial part of major thoroughfare Swanston Street, as the city’s retail rebound continues apace.
Fitzroys’ James Lockwood and Franklin Gikas negotiated the lease of the 459sqm tenancy at Shop 1,2 and 3, 137 Swanston Street.
In one of the most notable CBD retail deals of 2025, the secure 5+5-year lease was struck at $641,000 per annum net with fixed 4% annual increases.
“Gorman were in Shops 1 and 2 of 137 Swanston Street and jumped on the opportunity to secure Shop 3,” Lockwood said.
Lockwood said the space is located in the crucial stretch of Swanston Street between Collins Street and Bourke Street.
“This part of the CBD draws constant pedestrian traffic from workers, residents and tourists across all hours,” he said.
“It’s such a positive to have an iconic tenant in one of the city’s prime retail spots make the decision to boost their CBD footprint.
“The deal is another clear indicator of the retail and hospitality rebound that’s taking place in the Melbourne CBD, on the back of a booming night-time economy, world-famous roll call of events, the return to the office and the upcoming completion of the Metro Tunnel.
“This section of the city is really buzzing. Swanston Street vacancies have come down to just 2.6% and the new Town Hall Metro Tunnel station will open across the road in the coming months, while around the corner TK Maxx has just opened its biggest CBD flagship store and Mecca has opened on Bourke Street Mall.”
According to Fitzroys’ latest edition of Walk the CBD, retail vacancies across the city have come down over the past 12 months from 8.0% to 6.1%, and have been slashed by more than half since recording 14.1% two years ago. Swanston Street has been one of the city’s best performers in that time, and recorded the lowest vacancy rate of the key shopping, hospitality and lifestyle precincts.
Gikas said, “The Metro Tunnel has taken some key parts Swanston Street out of action for a long time, but these are set to transform nearly overnight from construction sites to hives of activity that retailers will really be able to thrive off.
He added, “The new Gorman space is in the heart of the CBD action and in one of the most accessible locations in Melbourne - it’s close to multiple train stations, at the soon-to-open Town Hall Metro Tunnel station and Flinders Street, as well as tram routes along Swanston, Bourke, and Collins streets,” Gikas added.
Gorman was founded and created by designer Lisa Gorman in 1999 and became known for its vibrant colours, patterning and prints. It has been described as a “cultural phenomenon” and boasts an extensive social media following across multiple platforms. The brand was acquired by Factory X in 2010.