Record low vacancy rate shows Shepparton CBD is thriving: council
Greater Shepparton City Council says Shepparton’s central business district is thriving, with the lowest vacancy rate since recordings began in 2012.
Council is reporting a four per cent CBD vacancy rate as of the end of March, as a result of a vacancy audit from the first quarter of 2022.
The CBD has a catchment of more than 630 premises and for the purpose of the audit only includes vacant locations that have a current ‘for lease’ sign.
In 2012, the vacancy rate was recorded at 15.9 per cent and has steadily decreased since.
“The future is bright for our CBD retailers and traders,” council director of sustainable development Geraldine Christou said.
“We look forward to seeing revitalisation in the CBD continue throughout the year with a variety of projects and events, including the completion of the Maude Street Mall redevelopment in late 2022.
“Council is also excited to bring more amazing food vendors and mouth-watering treats to the streets of Shepparton with the return of the Fryers Street Food Festival in November this year, further highlighting the precinct as a food hub and the overall Shepparton CBD as an exciting place to visit.”
The Shepparton CBD Revitalisation Project has provided direction on how council invests, supports and progresses its important CBD for now and into the future.
Other recent minor and major projects in the CBD included the Vaughan St redevelopment, Maude St revitalisation project and the installation of tree bud lighting.
The projects have been funded by council with support from the federal and state governments.
Within the past 12 months, a number of new businesses have joined Shepparton’s CBD or expanded into neighbouring shopfronts.
Council’s recent shopfront improvement grants offered local Shepparton CBD businesses, and the commercial areas of main streets in small towns, up to $2000 to contribute to the costs associated with improvements to façades.
For more information about the grants or inquiries on available vacancies contact council’s economic development team place manager on 5832 9700 or email email@example.com