With just one empty shop, Mt Hawthorn takes the crown for busiest retail strip
MT Hawthorn has emerged as Perth’s strict retail lane in the latest annual Ray White Review, which reveals improvements in all large high streets.
In eight retail strips covering the retail area of approximately 82,000 square meters, 581 shops assessment, Scarborough Beach Road region had the lowest gap rate.
The strip has only one empty shop between 75, which is a gap ratio of 0.85 percent.
Ray White Agent and report writer Brett Wilkins said that the study showed that Perth has returned with space rates of all large retail strips.
“Although online sales have increased significantly lately, these levels have now become stable,” the report said.
“Local retail strips continue to perform well, challenges digital tendency. High inflation continues to be a concern for consumers, but the latest data shows that it has become more manageable.”
The report said that the existing gap rate on Perth’s most popular high streets was 5.32 percent, which was a significant development of 6.33 percent of last year.
Mr. Wilkins made a strong emphasis on the services because of the intense size and success of Strip.
“Strip’s success extends beyond local residents and attracts a dynamic labor force from the surrounding areas,” the report said.
“This different protection contributes to consistent pedestrian traffic by supporting various retail proposals and increasing general vitality.
“Observed levels of extraordinary occupancy underlines the popularity of the position as both a local shopping place and the developing community center.”
South Terrace in Fremantle was behind the seven other seven retail lanes in the examination with a 20 percent gap ratio or 35 empty shops. In 2023, it fell from 25 percent gap.
“The lane continues to face difficulties with its dependence on tourism and visitor traffic to return to pre -pandemic levels,” the report said.
“Despite these challenges, South Terrace maintains its unique character and various mix of business, and a few organizations have worked for many years and obtained corporate status after working.
“The latest developments in local activity led to increasing business interest and pointed to the potential of gradual recovery.
“Strip positions for potential improvement as it is combined with a mixture of various businesses, as the tourism heals and the local protection increases.”
Mr. Wilkins made a bold guess that would be the prominent artist of the next few years.
After South Terrace, the Rokeby road of Subiaco had the next highest gap rate with 8.52 percent.
This was followed by Leederville (5.99 percent), MT Lawley-Highgate (4.06 percent), Victoria Park and East Victoria Park (3.76 percent), Claremont (3.75 percent) and Cottesloe (1.9 percent).
