Thread by @jasemurphy, Come with me on a stroll down Brunswick Street in Melbourne's Fitzroy, [...]

☔Jason Murphy

jasemurphy

Come with me on a stroll down Brunswick Street in Melbourne's Fitzroy, to see how the pandemic is hitting shops and cafes. #ausecon #ausbiz

I'm going down Brunswick street to Gertrude Street. It's pretty quiet. #ausecon #ausbiz

The "For Lease" signs come thick and fast as we head south.

Doughnut time ran out. Crepe shop also shut down. But the old spud bar has found a new tenant. #ausecon #ausbiz

The For Lease sign and the delivery rider. Name a more iconic duo of 2020. #ausecon #ausbiz.

Blank spaces. #ausecon #ausbiz

Princess Highway and Jack London, moving on. #ausecn #ausbiz

Hmm, maybe there *is* a more iconic duo for Melbourne in 2020. #ausecon #ausbiz

There were a lot more For Lease signs, I won't post them all. Down on Gertrude Street though I found a quadrella. Four in a row. #ausecon #ausbiz

I found 30 shops for lease in 1.5km. Lots of parking available. There were little stretches that seemed busy though. E.g. Marios, for example, seemed to have a few punters going through buying things.

The whole point of busy vibrant nightlife strips is the spillover benefits. The more vacancies there are, the harder it is for the remaining tenants to draw the crowds they need. #ausecon #ausbiz

This escapade was inspired by the following chart from yesterday's RBA Financial Stability Review. This is not just a Melbourne problem. Retail vacancies are high nationwide. I hope commercial landlords get smart and drop rents ASAP/ #ausecon #ausbiz

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