Byron Bay retail market continues strong performance: HTW
Byron Bay continues to perform well on the back of improving tourist numbers, the relatively compact nature of the CBD and the lack of any large shopping centre facilities, according to the latest Herron Todd White (HTW) commercial report.
The valuation firm took a look at the changing face of the retail sector across the nation in the report.
"Construction of the new centre at Byron Plaza South is likely to create an additional supply, however the traditional CBD’s proximity to the beach is likely to maintain its strength," the valuer suggested.
Alternative styles of accommodation for retail uses are being utilised within the industrial area, located approximately three kilometres to the west of the CBD, which are a reflection of affordability and the marrying of unapproved/illegal residential and retail components.
A current listing is a 87 square metre retail space priced at $190,000 (pictured above).
The shop situated at 1-3/52 Jonson Street features large shopfront window displays, track lighting throughout and exposure with a constant stream of passing foot traffic.
Another 90 square metre retail space located in the Byron Bay Industrial Estate has been listed for lease with the price of $620 per week (pictured above).
Located at 2/1 Banksia Drive, the property consists of lower level open plan with amenities, small storage room, and a good size mezzanine area upstairs with kitchenette and oven.
