News

Florists And Melbourne Retail Springing To Life

Posted on 11th December 2020

154 Johnston 2

Green shoots across Melbourne’s famous retail precincts are beginning to appear as the city emerges out of lockdown, with a florist and plant specialty store expanding into a prominent corner space on Johnston Street, Fitzroy.

Fitzroys Agency Manager, Lewis Waddell leased 154 Johnston Street to Dragonfly Flowers & Designs on a secure 5+5+5-year term at $75,000 per annum plus outgoings and GST.

Waddell acted on behalf of a private investor.

The prominent 240sqm standalone building comprises a ground-floor shop and first-floor dwelling, and is on a high-exposure corner site with excellent signage opportunities and on-site parking.

“The eclectic and vibrant nature of Melbourne’s inner-north was the main attraction for Dragonfly Flowers & Designs. This space is within one of Melbourne’s favourite hubs for creative tenants and is in the busy part of Johnston Street, close to the Brunswick Street intersection, offering high exposure to passing vehicles and pedestrians.”

“Enquiry throughout Melbourne’s strips has picked up as Melbourne headed towards its reopening, and businesses are much more willing to take up deals on extended terms as the restrictions are lifted and with promising news of a vaccine in the near future.”

Dragonfly Flowers & Designs is making their first expansion from their existing site in Windsor. Waddell said florists and plant stores have performed well during the COVID period, as Melburnians spend more time working from home and invest more time and energy into their work and living spaces.

Waddell recently leased 127 Greville Street, Prahran to an online florist Honeybee and Blossom, whose performance was so strong during the COVID period that it took up a bricks and mortar presence to further enhance their presence in the market.