Melbourne CBD Retail Vacancies Down 37% on Post GFC High (Savills plc)
(WorldNews Africa)

(Source: Savills plc) Melbourne`s CBD retail core has continued its overall downward trend recording a vacancy rate of just 3.3 percent in 2016, a moderate rise of 0.7 percent on the previous year`s figure but well below the 5.2 percent, five year average, according to Savills latest research. The survey of CBD Core & Swanston Street Precinct found there were just 39 vacancies among the 1181 shops which are dominated by Clothing, Footwear & Personal Accessories stores (492) and Cafes, Restaurants & Takeaway Food Services (281). The number of shops grew from 1132 to 1181 over the 12 months, largely due to the opening of St Collins Lane. Notable debutants to CBD trading included Debenhams...