Melbourne’s latest Shopfront Audit shows the city thriving on the retail front, boasting its lowest shopfront vacancy rate since 2020.
With around 85% of shopfronts now occupied, vibrant new outlets are popping up across the CBD, from Bourke Street Mall to Docklands.
Vacancy rates are now at just 5.5% in the CBD core, down from 6.5% late last year, and 7.8% across the broader CBD. Across the municipality, retail vacancies have plunged to 9.1%, a dramatic improvement from 31.5% in 2021.
Melbourne is welcoming a dynamic mix of global chains, national brands, and beloved local operators. Exciting new arrivals include Mecca at Collins Arcade and TK Maxx, joining recent openings like POP MART and JD Sports.
Supporting this revival, the Small Business Grant program has activated numerous previously empty storefronts, and the Business Concierge team has helped many businesses establish themselves here.
