GREEN LANEWAYS TO UNLOCK NEW RETAIL OPPORTUNITIES

Written on the 22 March 2016

GREEN LANEWAYS TO UNLOCK NEW RETAIL OPPORTUNITIES

THE greening of Melbourne's iconic laneways is expected to unlock new retail activation opportunities in the city centre, according to CBRE.

The City of Melbourne announced last year plans to revitalise the popular precincts with initiatives such as vertical gardens, trees and so-called 'pocket parks'.

Katherine Place, Meyers Place, Guildford Lane and Coromandel Place are first in line to get the green treatment.

CBRE's Paul Tzamalis says the project will put a new focus on buyer interest for laneway properties and he expects the proposed transformations will increase property values in these laneways.

"Buyers are becoming increasingly environmentally conscious and therefore the opportunity to obtain space in a 'green laneway' will appeal to a variety of occupiers and investors," he says.

The city's Green Your Laneway project is expected to inject further interest in the sale of 28 Coromandel Place, which is being brought to the market by VIMG.

Tzamalis, along with CBRE colleague Tom Tuxworth, will be marketing the property through a public expressions-of-interest campaign that closes in early April.

The 115sqm retail space offers six metres of laneway frontage alongside renowned Melbourne café Oli & Levi.

"The revitalisation of Melbourne's laneways through the Green Your Laneway project is a strategy to help activate secondary locations and sustain continue demand from retail operators," says Tzamalis.

"The attitude in Melbourne has always been the harder it is to find, the better it is, and we feel the Coromandel Place revitalisation, and the sale of this retail offering, will definitely encompass that ethos and appeal to boutique retail fashion and hospitality operators."

Melbourne has about 200 lanes in the central city, but only a few have any greenery.

Construction of the initial green laneways transformation will run from July to August.


Latest News

HOW INGRID BONNOR TURNED A LABOUR OF LOVE INTO A WORLDWIDE FASHION ICON

BEFORE Ingrid Bonnor started her bridal robe and feminine sleepwear company Homebodii in 2011, she didn't have an...

G8 EDUCATION EXECUTIVE CHRIS SCOTT RETIRES AS COMPANY CUTS CHINESE TIES

LONG-TIME managing director and executive of G8 Education (ASX: GEM) Chris Scott has announced his retirement, on ...

REGIONAL BANKS HIT OUT AT RATING CUT AND WARN BIG FOUR WILL BENEFIT

REGIONAL banks have hit out at a downgrade on their credit ratings, warning that it will increase their wholesale fun...

$71 MILLION SALE OF 'SYDNEY SIX' GIVES RISE TO WESTERN SYDNEY INVESTMENT HOTSPOT

SIX INDUSTRIAL assets in Sydney's West, dubbed the 'Sydney Six', have sold for a collective $71 million, ...

Related News

REGIONAL BANKS HIT OUT AT RATING CUT AND WARN BIG FOUR WILL BENEFIT

REGIONAL banks have hit out at a downgrade on their credit ratings, warning that it will increase their wholesale fun...

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trad...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter