A series of recent leasing deals in Melbourne’s inner south-east highlight a wider shift in the retail landscape, realtor Gross Waddell says.

The Melbourne-based agency has facilitated multiple transactions within the city of Stonnington involving tenants from the health and cosmetics industries.

Gross Waddell’s Retail/Leasing Specialist and Head of Leasing, Tamara Gross, told WILLIAMS MEDIA the trend reflected the direction of the leasing market.

“Five years ago, it would have been fashion, furniture, homewares, and other items that people are now purchasing online,” she said.

“From a leasing perspective, the economy seems to be moving more towards gyms, physios, pilates, cosmetic surgery clinics and organic food stores.

“Everyone seem to care more about their health and convenience.”

The City of Stonnington Economic Development Strategy 2017-2021 indicates the city’s residential population is expected to grow by more than 30,000 people across the next 17 years, providing “growth opportunities for local service businesses (for example health and retail)”.

The report also identified Health and Wellbeing as the city’s second-largest employment sector, having experienced “the largest employment growth of any other industry
in recent years”. 

Lifestyle health businesses that have established a presence in the city include everything from pilates and stretching studios to personal trainers.

Ms Gross said a combination of affluence and the need for convenience had driven demand for more health-based tenants and ready to eat meals within the city. 

“Everybody wants good health and a lot of people are working longer hours these days, which means they are after convenience,” she said.

“I think people are only going to be more time-poor going forward, so I think the trend will most likely continue.

“A lot of the properties I oversee are retail offerings situated at the bottom of apartment buildings.”

For more information on any of the properties Gross Waddell has available, email or phone Tamara Gross.

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