Vacancy rates in Shepparton CBD continue to decline


24 January 2018

Article heading image for Vacancy rates in Shepparton CBD continue to decline

Good news for Shepparton CBD after an audit by Council’s Economic Development revealed the precinct vacancy rates are declining.

The report showed a one per cent decrease over the last four months, with 47 shops currently vacant, which is six shops down from the last audit. 

Greater Shepparton City Council Director Sustainable Development Geraldine Christou said,

"the street with the greatest change in vacancy rates was Wyndham Street with a number of sites being leased for office space.”

Mr Chistou is confident the CBD vacancy rates is part of a long term trend.

“We are seeing a gradual change in the variety of shops on offer with a greater mix of food providers which attracts more people to the CBD.”

The findings are consistent with trends being observed in regional and urban areas as the food, restaurant and cafe sector continuing to experience a high level of growth within the retail industry.

"Long term, Council would also like to see growth of accommodation in the CBD to encourage more activity and life into the area."

With an increase of people living in the central area, demand for services and products will in turn, lead to more business.

Listen Live!