RETAIL REPORT
BEYOND 6 METRES CENTRE ROAD, BENTLEIGH
282 SHOPS AND OFFICES DRAWCARD TENANCIES COLES, WOOLWORTHS, ALDI AND TARGET ALL MAJOR BANKS ARE REPRESENTED CONSIDERED A “WORK HORSE RETAIL STRIP” TO BENEFIT FROM THE TRAIN STATION GOING UNDERGROUND
REAL FACTS, REAL SOLUTIONS Commercial & Industrial Real Estate
Sales & Leasing
MOORABBIN \ 9559 3888 \ 358 SOUTH ROAD, VIC 3189 MORNINGTON \ 5925 6005 \ 4/230 MAIN STREET, VIC 3931 CARRUM DOWNS \ 9775 1535 \ 1 COLEMANS ROAD, VIC 3201
Property Management nicholscrowder.com.au
CENTRE ROAD, BENTLEIGH
VACANCY 4.6% FORSE (CONSIDERED LOW) A LE
282 SHOPS AND OFFICES
CEN TRE R
OAD
BENTLEIGH TRAIN STATION
JASPER ROAD
CENTRE RD, BENTLEIGH RETAIL SECTORS
Primary Secondary Tertiary *Outline indicative only
NICHOLS CROWDER 2018 RETAIL REPORT \ CENTRE ROAD, BENTLEIGH
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RETAIL REPORT
BEYOND 6 METRES
CENTRE ROAD, BENTLEIGH
WHAT OUR RESEARCH REVEALS Nichols Crowder is empowering owners, tenants and customers with local knowledge on what makes a retail shopping strip successful. We consider the secret to success in retail centres such as Centre Road Bentleigh to be way beyond the standard 6 metre frontage of a shop.
PRIMARY PRECINCT ANNUAL RENTS: $600 TO $800 PSM APPROX* CENTRE RD PRIMARY PRECINCT HEALTH 0%
RETAIL PRODUCTS
FASHION 15.9%
14.5% MEDICAL
Although most of Centre Road, Bentleigh, is more of a traditional, old-school shopping strip, parts of it are transitioning to a trendy and popular retail destination. This is meeting the needs of younger demographics, while keeping the area’s older shoppers happy.
8.7%
PROFESSIONAL SERVICES
13.0%
4.3%
1.4%
BEAUTY
14.5%
RETAIL SERVICES
24.6%
FRESH FOOD FOOD SERVICES
Food dominates the primary precinct along Centre Road. The entry of several popular coffee shops and burger retailers in this area is enhancing the reputation of the strip as a place for locals to regularly shop day and night, and for visitors to experience new offerings. Retail products (homewares, op shops, bottleshop, newsagent, etc) and fashion are also prominent in this precinct. Centre Road’s secondary precinct is wellbalanced, with a relatively even distribution of products, services, food, medical, and beauty. Shoppers are likely to find a range of essential and discretionary goods and services within a narrow geographic region, making this a popular precinct for locals to spend time.
VACANT 2.9%
SECONDARY PRECINCT ANNUAL RENTS: $300 TO $500 PSM APPROX* CENTRE RD SECONDARY PRECINCT HEALTH FASHION
VACANT
4.3%
RETAIL PRODUCTS
6.5% 14.0%
4.3%
14.0%
12.9%
MEDICAL
PROFESSIONAL SERVICES
6.5% 12.9%
RETAIL SERVICES
15.1% 9.7%
BEAUTY
FRESH FOOD
The tertiary precinct is dominated by businesses offering retail products (20.0%), professional services (19.2%) and food services (17.5%). The lower rents in this precinct enable businesses that do not rely on foot traffic to base themselves along this part on Centre Road.
FOOD SERVICES
TERTIARY PRECINCT ANNUAL RENTS: $200 TO $300 PSM APPROX* CENTRE RD TERTIARY PRECINCT HEALTH 1.7% FASHION 5.0%
MEDICAL
Instead, consumers tend to intentionally visit specific retailers in this precinct, such as their favourite café, deli or one of the three major supermarkets, and maybe extend their shopping trip to other nearby businesses.
VACANT
20.0%
10.0%
BEAUTY
RETAIL PRODUCTS
4.2%
9.2%
19.2% PROFESSIONAL SERVICES
7.5% FRESH FOOD
17.5%
5.8%
RETAIL SERVICES FOOD SERVICES
*SOURCE: Nichols Crowder Research 2018
NICHOLS CROWDER 2018 RETAIL REPORT \ CENTRE ROAD, BENTLEIGH
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CAULFIELD
ASHBURTON MOUNT WAVERLEY
GLENHU
NTLY RO AD
ELSTERNWICK
WHEELERS HILL
ST
CH
EE
T
Y
DENDY ST
HW
ST R
BENTLEIGH
OAKLEIGH EAST BO UNDARY RD
UR
MURRUMBEENA
RD
ROAD
CH
AN PE NE
BRIGHTON
NORTH
TUCKER
BAY STRE ET
JASPER RO AD
HAWTH ORN RD
NEW ST
MARTIN
CENTRE
PR
OAKLEIGH SOUTH
IN
CE
SS
HW
M
RD
H AS
BENTLEIGH EAST
POLICE R
D
CLAY TO
N RD
CLARINDA
HAMPTON MOORABBIN RD CHESTE RVILLE
SANDRINGHAM
SPRINGVALE L RD
HEATHERTON
PARKDALE CO
KEYSBOROUGH LOWERD ANDENO
O
M
BEAUMARIS
BE RD
RTON RD
Y BYPA SS
BOUNDA
BALCOM
DINGLE
RY RD
WARRIG A
AN RD CHARM
E ROAD
PARK RO AD
BLACK ROCK
CLAYTON SOUTH
HEATHE
CHELTENHAM RESERV
BLUFF R
D
BAY ROAD
NG RD
T ES
EW
PD
MENTONE PDE
N STREET
D
Y FW
SOUTH R
HAMTPO
N O
Y
BRAESIDE DANDEN
MORDIALLOC GO VERNOR
Centre Rd Precinct
DANDENONG RD
EAST
Retail Precincts Note: Map not to scale
PRIMARY AGE GROUPS 26.2% 30.3%
0 YRS TO 19 YRS 40 YRS TO 59 YRS
MEDIAN HOUSEHOLD INCOME
$96,100P.A.
2018 MEDIAN HOUSE PRICE*
$1,488,250
2018 MEDIAN UNIT PRICE*
The 2017-18 year-to-date approvals could exceed those in the two full prior years: 406 units, apartments and townhouses in 2016-17 ($112.4 million), and 393 in 2015-16 ($99.7 million).* More residents in the Bentleigh-McKinnon catchment area ensure greater activity along the retail part of Centre Road. This can greatly influence consumers later into the evening, with more restaurants and food services being demanded with growth in younger demographics.
$665,000
*According to REA for the 12 months ending 4 June 2018
#Source: ABS 8713.0, Building Approvals
REAL FACTS, REAL SOLUTIONS Commercial & Industrial Real Estate
Sales & Leasing
MOORABBIN \ 9559 3888 \ 358 SOUTH ROAD, VIC 3189 MORNINGTON \ 5925 6005 \ 4/230 MAIN STREET, VIC 3931 CARRUM DOWNS \ 9775 1535 \ 1 COLEMANS ROAD, VIC 3201
Property Management nicholscrowder.com.au
All information and figures are approximates. Particulars herein are for information only and do not constitute any representation by the owner or agent. Information in this report should not be considered as financial advice. Interested parties should make their own enquiries. If you do not wish to receive further information please contact our privacy officer. Map not to scale.
WY LLEY H
GARDENS Residential building activity growing strongly with the approval of 307 units, apartments andBANGHOLME townhouses in BentleighMcKinnon for the nine months through March 2018. These residential buildings have a construction value of $108.4 million.*
39 YEARS
ONG V A
MEDIAN AGE
WHAT’S NEW ASPENDALE
DAND EN
DEMOGRAPHICS (ABS CENSUS 2016)
LINK
ONG B YPASS
RETAIL SECTORS
D