Cult women’s footwear label FRANKiE4 is the latest retailer to make its Melbourne debut in the famous Burke Road and Camberwell Junction precinct, demonstrating the precinct’s reputation as one of Melbourne’s most renowned shopping and lifestyle destinations.
Chris James of Fitzroys negotiated the off-market lease for the single-level 160sqm shop at 626 Burke Road, for five years at $120,000 per annum on behalf of a private investor.
FRANKiE4 was established in Queensland by a podiatrist and physiotherapist and has generated a large and enthusiastic following for its fashionable designs that also take into account body mechanics and healthy wearing. The label invests in patenting and design registrations of elements in most of its unique designs.
The deal arrives within 12 months of cult Sydney-based chicken shop Chargrill Charlie’s opening its first Melbourne site in a space fronting the Camberwell Market, after a lease negotiated by James. Fashion retailer Ballet Emporium, also from Sydney, made its Melbourne debut at 849 Burke Road more recently, having acquired the property in a $1.675 million sale also negotiated by Fitzroys.
James and Fitzroys colleague David Bourke sold the dual-fronted freehold directly next door at 628 Burke Road for $4.28 million in recent months to national telecommunications company Telstra, which is currently repositioning and refitting the building for a brand-new flagship store.
“The recent influx of national interest demonstrates the confidence retailers have in the prospects of Burke Road and the Camberwell Junction,” James said.
“Vacancies in the prime retail section of Burke Road, Camberwell are at a three-year low, testament to the successful mix of quality national and local retailers and food and beverage operators in what is the shopping and lifestyle heartbeat of Melbourne’s inner-east.”
James said Burke Road, Camberwell services an established, loyal and affluent catchment that is one of Melbourne’s most enviable.
“Retailers have demonstrated faith in the strip right through the COVID-19 period, and as it bounces back as restrictions ease.”
James said medium and high-density residential development has fuelled a population surge in the inner-east, increasing the immediate catchment and boosting trade and further driving enquiry from tenants and owner occupiers.
The local development pipeline includes major projects such as the $175 million mixed-use, dual tower Camberwell Village, and Chinese development giant Dahua Group’s $300 million Hawthorn Park that will bring 345 apartments to the area.