Clothes and fashion retailers sign leases in Moonee Ponds retail strip
Two fashion and accessories tenants have signed up for new spaces within the popular Puckle Street retail strip in the inner Melbourne suburb of Moonee Ponds.
Casual wear label Sportscraft has leased at 63 Puckle Street, while 66 Puckle Street has been taken up by fashion accessories and handbags retailer Colette by Colette Hayman.
Sportscraft signed a three-year deal with further extension of three more years at $95,000 per annum net with 4% increases for the 200 sqm space, which was offered for the first time in four decades.
Colette by Colette Hayman will move into the 150 sqm shop on a five-year lease with a further five-year option and pay $80,000 per annum with 4% increases.
The lease was negotiated by Fitzroys agent Terence Yeh.
He said the strong results and long leases demonstrate tenants’ confidence in the area.
“Puckle Street’s limited amount of spaces available - totalling around 150 shops - offers businesses greater access to the local catchment population, further underpinned by the number of residential dwellings introduced to the area in medium and high-density developments.”
There are more than 1,500 apartments within the Moonee Ponds Activity Centre in various stages of planning and development, generating confidence among businesses for the retail strip’s long-term viability.
