SMH
·general
·2 hours ago
Melbourne's CBD shop vacancies drop to 4.6 percent amid leasing surge
Melbourne's Central Business District sees shop vacancies plummet to 4.6 percent from over 30 percent during the pandemic, driven by a surge in hospitality businesses. The Metro Tunnel's completion has further spurred leasing activity, with rents approaching $5,000 per square meter in popular areas. Retailers now benefit from increased customer traffic as office workers return to the city more frequently.
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