Gorman leases neighbouring Melbourne store
Gorman has leased a store next to two it occupies in Melbourne’s Swanston Street.
It has also reset a lease for the 459 square metre space, for five years. Starting annual rent is $641,000 with four per cent yearly rises.
There is also a five year option.
“Gorman were in shops 1 and 2 of 137 Swanston St and jumped on the opportunity to secure shop 3,” Fitzroys’ James Lockwood, who brokered the deal with Franklin Gikas, said.
“The space is located in the crucial stretch of Swanston St between Collins and Bourke,” he added.
“This part of the CBD draws constant pedestrian traffic from workers, residents and tourists across all hours,” according to the executive.
“It’s such a positive to have an iconic tenant in one of the city’s prime retail spots and make the decision to boost their CBD footprint”.
The deal comes a year since Mecca merged three tenancies to create a 354 sqm store, in Albert Park’s Dundas Place.
Emmetts’ Real Estate’s Charles Emmett brokered that deal (continues below).
Gorman expands on Swanston
Designer Lisa Gorman established the eponymous fashion retailer in 1999.
Factory X bought it 15 years ago.
The Swanston St shop was previously occupied by Korean streetwear retailer Tom’s Project.
The Town Hall Metro station is set to open across the road.
“The Metro Tunnel has taken some key parts of Swanston St 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,” Mr Gikas said.
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