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Collingwood shopfront can be leased for only one day

 

This Melbourne architect has a vision for short-lease spaces… to re-energise local streetscapes.

CommercialRealEstate.com.au has been speaking with instant retail again… asking our opinion on a “new short-lease space” in Collingwood. Local architect Ben Edwards refurbished and launched the space recently, featuring an adaptable fitout of plywood and aluminium which can be “continuously reconfigured to suit evolving needs of (various) tenants”. His plan is to lease the space for a little as one day – for businesses “to try spaces out, or try things out…” Concerned for the number of abandoned local shopfronts around Fitzroy and Collingwood, he expects that short-lease tenancies (such as the one he offers at 408 Smith Street) will bring spaces “back into use so they’re not sitting there empty… there will be more engagement in terms of the street and the frontage and the public domain”.

Scott Williams, director at instant retail (and popUPshopsAustralia.com) agrees… “there’s nothing worse than a shop being empty for ever…(and) it’s a negative domino effect because the surrounding traders start to suffer… then the street is on a downward spiral”. But the concept of a middleman (between the landlord’s agent and short-lease tenants) can be risky… “they must able to constantly and consistently fill the spaces, as the leaseholder (is) liable to pay the rent whether or not there is a pop up tenant…”

 

The article was published on-line, at CommercialRealEstate.com.au / Collingwood’s 408 Smith shopfront can be leased for only one day (16th January, 2019)

image : CommercialRealEstate.com.au