Cushman & Wakefield surveyed the Melbourne CBD retail core in March this year.
Services and ‘other’ retail outlets account for 245 retail outlets in the Melbourne CBD retail core, representing 21% of the total amount of outlets. If we consider the floor space, this represents 19% of 29,000 of total retail space surveyed.
Almost 100 of these outlets operate in ‘other’ forms of retail sectors, including pharmaceuticals, cosmetics, toys, games, newspapers and books, and souvenirs.
The remaining ‘other’ retailers are dedicated to services such as:
- Banking and foreign exchange
- Health services such as dental, optical and general practice
- Hairdressing and beauty services including massage and nail services
- Postal and travel agencies
Of the 100 or so ‘other’ retail outlets, the majority (44) are dedicated pharmaceutical, cosmetic and toiletry goods retailers. Sporting goods, toys and games make up 18 outlets, whilst the sellers of stationery, books and newspapers make up 19 outlets.
Interestingly, the number of health and beauty retail services has risen from 137 to 147 operators over the last ten years. Hairdressers and beauty therapists are critical operators in the CBD retail core and occupied 56 outlets at the time of our survey, accounting for one-third of all services offered here.
Contributing to this increase in services is the growth of the CBD work population from 290,000 to 350,000 in the same period. An increase in tourism, CBD residents and student numbers have also contributed to the growth and diversity of retail services offered in the Melbourne CBD.