Gertrude Grocer Signs Fitzroy LeaseWednesday, September 23rd, 2020
High end foodstuffs retailer, The Gertrude Grocer has signed a three-year lease over the retail premises at 188-196 Gertrude Street, Fitzroy after taking an exploratory six months introductory occupancy from April this year.
The business, which initially occupied the space tenanted by another specialty foodstuffs retailer Aunt Maggies, has reportedly traded well through the pandemic period.
The Gertrude Grocer will now pay a starting annual rental of $85,000 pa net under their new three-year lease with annual increases fixed at 3%. The lease has two further options, one for a four-year and the second for an additional three-year term. Market reviews will apply at either option exercise.
The detail reflected the increasing gentrification of the Fitzroy and adjoining city fringe residential area in particular.
For further details, please contact Rory White on 0439 655 504.