Nichols Crowder Retail Report - Centre Road Bentleigh

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

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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

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