Paddington is one of Brisbane's most popular suburbs for eating out, boutique shopping and night clubbing. It is also home to Queensland’s mecca of sport, Suncorp Stadium. One of Brisbane's older suburbs, it still represents to many the traditional historic Brisbane architecture and lifestyle. With its hilly terrain, it affords some spectacular views of the CBD. Most of the shops are converted original homes and they offer the shopper an eclectic mix of fashion boutiques, vintage clothing and green stores which makes browsing (and shopping) in Paddington a unique experience. There are also many galleries and cafes to rest the weary legs... did I mention it was hilly?
Are any international brands showing interest in the strip?
One of the great attractions of this area is the uniqueness of many of the retailers. You will not find many internationally branded stores, but that does not mean you wont find international brands. Stores like Petrol Clothing Company, Style Motion and The Little Black Dress Shop stock some of most sought after labels from Australia and Europe including George, Katherine, Charlie Brown, Moss and Spy, Christian Dior, Emilio Pucci, Guess, Hugo Boss, Kenzo, Paul and Joe, Fillipa K and Missoni. The recent opening of Lorna Jane and Witchery suggest that some of the branded retailers are starting to discover the attraction on this area.
What is the prime retail space on the strip?
The main street running through Paddington has several names. Starting off, closest to the city, as Caxton Street, you will find the nightclub and restaurant precinct. Given Terrace in the middle boasts cafes and small, quirky boutiques and Latrobe Terrace, furthest from the city, has antique shops, cafes and flower shops.
What are the demographics of the area?
The suburb of Paddington only has a population of about 8000, but given its 2km proximity to the Brisbane CBD, it has a much larger population in its catchment. The average age of residents is 31 with a median house hold income of $1496/week.
What do retailers pay to rent on the street?
Rents on Caxton/Given Terrace/Latrobe tend to be around the $700-$850/sqm. As most retail stores have been converted from the traditional homes of the area, rents can vary a little depending on the amount and quality of the renovations that have been completed.
How is the mix of retailers changing?
Paddington was traditionally a destination for those interested in a more alternative style, this has gradually been evolving into the current mix but it continues to maintain some of those alternative roots through the “green” precinct that specialises in all things eco-friendly and organic.
Pandanus Property is the Queensland distributer for Leasing Information Services. Leasing Information Services is a Sydney -based independent online provider of retail leasing data in Australia. It offers rental comparisons, occupancy costs, floor plans and other customisable reports. Visit www.leaseinfo.com.au
