Food and beverage operators remain busy on vibrant Glenferrie Road, Hawthorn, with the return of university students in 2022 supporting more day-to-day trade throughout the popular shopping strip.

In the latest deal, Fitzroys’ Tom Fisher has leased 639 Glenferrie Road space to Sushi Uokin on a long-term five-year lease with a five-year option at $65,000 per annum net.

The 93sqm space is in a high-exposure location opposite Glenferrie station and moments from Swinburne University.

Fisher said the lease was the latest example of food and beverage tenants leasing smaller retail spaces with existing kitchen fit-outs that has been seen across Melbourne since the beginning of the pandemic.

“Operators are increasingly risk averse and smaller and fitted-out spaces allow operators to open up quickly and establish new customer bases without having to commit to fit-out costs and higher rents for larger spaces.

“The rise in inflation and construction costs are affecting retail fit-outs as well.”

Fisher said vacancies have returned to pre-COVID levels along Glenferrie Road, Hawthorn, as the return of Swinburne University students and the fast-growing Hawthorn office market centred around Burwood Road helped drive an increase in tenancy take-up.

According to Fitzroys’ forthcoming Walk the Strip report, vacancies on Glenferrie Road have come down this year as the already-high food and beverage presence in the strip received a further boost. Other recent food and beverage entrants into the strip via deals negotiated by Fisher include The Cookie Box, within the Lido Cinemas complex, 99 Pancakes at 642 Glenferrie Road, and Saul’s Sandwiches and Plaka Gyros within 673 Glenferrie Road. Superfood slingers Green Cup have also opened up.