323 Smith Street, FITZROY

In a retail landscape that is constantly evolving — shaped by changing consumer behaviours, economic cycles and shifting urban dynamics — there are very few streets that consistently outperform expectations while remaining fiercely authentic. Gertrude Street in Fitzroy is one of them.

From a retail leasing perspective, Gertrude Street stands apart not because it chases trends, but because it sets them. The strength of the precinct lies in its deeply curated tenancy mix, its strong sense of place and the longevity of businesses that have become inseparable from Melbourne’s cultural fabric.

Victorian seaside towns have always held a strong emotional pull for both locals and visitors. As someone who works closely with businesses navigating growth, brand presence, and commercial strategy and having spent time in Sorrento for a number of summers now, I’ve had time to analyse how retail thrives in this coastal location (currently full retail occupation by the way!) Suburbs like Sorrento demonstrate a particularly resilient form of retail ecology—one that thrives on a balanced mix of uses, seasonal versatility, and strong anchor tenants.

When a commercial lease ends, one of the most common—and costly—sources of tension between landlords and tenants is the “make-good” clause. At Miglic Dean, we’ve helped countless clients navigate this process, and we know that what’s written in the lease is only half the story. The other half is about timing, communication, and strategic foresight.