GrayJohnson has successfully brokered a significant showroom leasing deal for national retailer, Forty Winks, showing continued resilience in Melbourne’s inner-north commercial market.
In a transaction managed by GrayJohnson Director Matt Hoath, Forty Winks has secured a long-term lease for the high-profile corner building at the intersection of Hoddle and Turner Streets. The 616sqm* property, previously owner-occupied by Bodyassist Health and Wellness P/L, will be a strategic relocation for the franchisee’s Fitzroy operations formerly located on Johnston Street.
The deal reflects a rental of $215,000 per annum plus outgoings and GST, set on a five-year term with further options. Notably, the transaction was concluded with limited incentives, underscoring the high demand for showroom assets with significant brand exposure.
The property features a dominant 18-metre frontage to Hoddle Street, one of Melbourne’s busiest arterial roads, providing the incoming tenant with unparalleled visibility to tens of thousands of passing vehicles daily.
“Despite broader market challenges, we are seeing national brands remain incredibly resilient, particularly within the essential retail and showroom sectors. There is a clear, ongoing appetite for well-located, modern assets in the inner north,” says Matt Hoath, Director at GrayJohnson:
“Occupiers are increasingly prioritising locations like Collingwood and Abbotsford because they are positioned to benefit from the sustained high-density residential and mixed-use development we expect to see over the next decade. This deal, along with a renewed surge in leasing enquiries across the inner north and east, suggests a genuine improvement in sentiment for these sub-markets.”
The relocation of Forty Winks to this prime corner highlights the shifting dynamics of the inner-suburban retail landscape, as national franchisees seek to consolidate their presence in high-growth corridors.
Property Highlights:
• Total Building Area: 616sqm*
• Location: Prime corner (Hoddle + Turner Street)
• Frontage: 18 metres* to Hoddle Street
• Rental: $215,000pa + outgoings + GST
