A hairdressing and beauty salon has signed a 3-year lease for a prime retail space at 108 Bridge Road in popular Richmond, following high interest from a wide range of tenants across the service and hospitality industries.
108 Bridge Road is a 72sq m ground floor shopfront with a kitchenette, basement storage, and rear laneway access. The site sits atop Richmond Hill, and benefits from considerable and continuous foot traffic provided by a tram stop directly out front, the neighbouring Epworth Hospital and a new Coles Express located opposite the property.
Savills VIC CBD & Metropolitan Sales John McLaughlan and Glenn Ye brokered the deal on behalf of a private client for an effective rate of circa $420 per sq m per annum, with a 3-year option to renew.
“We had very strong interest from a wide range of tenants from the onset of the marketing campaign, demonstrating an increase in activity for the precinct,” said Mr McLaughlan.
“There’s now a strong shift in retailer sentiment for Bridge Road, with retailers now seeing it as a window of opportunity in light of surrounding future commercial and residential works.”