Mar
25
Food and Beverage Retailers Set to Flock to 'the GRID' at 567 Collins Street, Melbourne

Frank Lonetti 25 Mar 2014

A national retail leasing campaign by Colliers International will have boutique food and beverage operators excited to become a part of Melbourne CBD’s newest prestige retail destination – ‘the GRID’.

Developed by Leighton Properties and jointly owned by Investa Office Fund and Investa Commercial Property Fund, ‘the GRID’ forms part of the ground plane forecourt at 567 Collins Street and offers 11 tenancies ranging from 68-126sqm.

Strategically located on the city’s premier street, surrounded by iconic buildings such as Rialto and 530 Collins Street, and in proximity to a myriad of public transport options including Collins Street tram stop and Southern Cross Station - ‘the GRID’ is well positioned to take advantage of the projected local population of 42,200 and onsite population of 3,800 by its completion in mid-2015 (Urbis, February 2014).

567 Collins Street has been conceived with lifestyle and wellbeing in mind. The tower offers almost 50,000sqm of Premium Grade office accommodation. ‘the GRID’ will provide exceptional, convenient street access to cafes, restaurants and access to convenience retail as well as a state-of-the-art Virgin Active Health Club on levels 1 and 2 for people at the building.  

Leighton Properties National Head of Commercial, Andrew Borger, said companies these days are more conscious about attracting and retaining staff.

“From the outset, we recognised a growing need of employers to find not only quality office space in prime locations, but also in buildings with onsite facilities such as gyms, convenience retail and food and beverage offerings,” Mr Borger said.

“These initiatives were incorporated early into our development plans and having a market leading health and fitness centre such as Virgin Active Health Club at 567 Collins Street, have delivered strong interest from tenants – and this response is set to continue with the launch of ‘the GRID’.”

Colliers International Director of Retail Leasing, Ben Tremellen, said there is a strong market for future retail tenants and for them to trade beyond the regular working hours.

“Due to the recent influx of new residential developments in Melbourne’s CBD - notably, Upper West Side at 568 Collins Street and the impending redevelopment of the Makers Mark building at 464 Collins Street, there is currently an undersupply of retail amenity in the western core,” Mr Tremellen said.

“The activation of ‘the GRID’ will bring new life to the area with opportunities for lease available to food and beverage retailers with a focus on boutique street food offerings, catering to the breakfast, lunch and dinner crowds.”

With a 75 metre frontage to Collins Street and a total retail area of approximately 1,000sqm, ‘the GRID’ will quickly become one of the city’s most coveted laneways.

Designed by Spowers Cox Architecture, 567 Collins Street presents a striking combination of dynamic, elegant finishes including 15m high colonnades framing an impressive new Melbourne CBD civic space.

The development is currently 50% pre-leased with anchor tenants including Corrs Chambers Westgarth and Leighton Contractors.

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