Melbourne’s CBD retail landscape has transformed in recent years. Driven by changing consumer habits, the influx of prominent international brands and the rise in population and tourism, the way space is used is shifting. An emerging trend in Melbourne’s CBD is the concept of multi-storey retailing, or vertical retailing. This is seen around the world, especially in locations experiencing high rental rates, limited space and growing population density.
This is being adopted by not only bigger brands, but also small retailers and outlets seeking a prime location but without the substantial rental price. As the role of a flagship store becomes increasingly vital to a brand’s reputation and the average size of a ground-floor shop is not large enough, retailers are being forced up into the lower levels of office buildings, or into basement space. As well as converting existing buildings, new developments are starting to include more retail offerings over multiple levels to account for the growing demand for retail space.