Viva Studio Opens New Store on Russell Street
27 June 2016
Melbourne hair salon, Viva Studio, has agreed terms on a new lease in Melbourne’s CBD in a deal negotiated by Savills Australia with CBRE.
Located within Bourke House at 147-149 Russell Street, the property comprises a 142 square metre tenancy leased on a five year term with a five year option at a rental in excess of $2,000 a square metre per annum net.
According to Savills Australia’s Damien Abela, who brokered the deal with CBRE’s Zelman Ainsworth, the tenant required a modern CBD premises with excellent exposure to expand upon its existing business at the top end of Bourke Street.
Mr Abela and Mr Ainsworth said the deal represented great value for the tenant which will have the opportunity to increase its trade through exceptional exposure to the enormous foot traffic in the Russell Street precinct.
“The location, virtually on the Bourke Street intersection, is one of the busiest precincts in this part of town, and an ideal location for a business looking to expand its reach within the CBD,” the agents said.
