Lululemon Prahan's Newest Tennant

lululemon athletica has signed a five-year lease agreement with Watpac Limited for a tenancy at its Rue de Chapel precinct in Prahran.

Located on the corner of Chapel and Kings Streets, opposite the Greville Street intersection, the location boasts 244sqm of retail space in a high-traffic, high-profile Chapel street address.

Watpac Managing Director Martin Monro said the Group was delighted to welcome lululemon athletica and look forward to their Winter 2015 opening.

“We look forward to welcoming lululemon to the Rue de Chapel precinct and are excited about how they will continue to support the local community in this new space,” Mr Monro said.

“Prahran has become an ideal location for a number of high profile food and fashion retailers given it is a suburb of choice for the young professional looking to reside close to Melbourne CBD.”

The tenancy was negotiated by Jonathon McCormack from Gross Waddell who is currently in discussion with several other potential tenants who recognise Prahran as a great place to live, shop and work.

“Retailers see Rue de Chapel as an ideal opportunity to locate their stores on a high-profile Chapel Street address, and as the market continues to rise we are seeing interest in this location increase,” Mr McCormack said.

“Interest is high for the four remaining tenancies, which have an average size of 50sqm.

“The precinct has been designed to meet the needs of the market so there is opportunity for restaurant tenants or fashion retailors to take advantage of this premium location.”

Other tenants at Rue de Chapel include bespoke candy company Red Balloon and recently opened restaurant favourite Smokey’s All American BBQ.