South Yarra’s Chapel Street continues to welcome a new wave of boutique operators, with Asian fashion operator Momo Dress securing a site in the prime section of the famed shopping strip.

Fitzroys Agency Executive, James Spencer negotiated the lease of 589 Chapel Street to Momo Dress at $58,000 per annum net on behalf of a local private investor.

“Momo Dress becomes the latest boutique fashion retailer to select Chapel Street, South Yarra for its next store, having been attracted to its close proximity to the Capital Grand development and the high profile Chapel Street/Toorak Road intersection.”

The deal comes shortly after Spencer negotiated a lease to quality fashion retailer Sculpt Australia over 495 Chapel Street, and within The Colonnade at 542 Chapel Street to high-end menswear retailer Ciano & Roza.

“Retailers still want to be on Chapel Street. As well as the Capital Grand, significant development projects include WY Hotel, the $450 million redevelopment of The Jam Factory, and Cato Square, as well as ongoing activity in the adjoining high-density Forrest Hill precinct, all of which are major positives for the strip and surrounding commercial precincts,” Spencer said.