Greater Shepparton City Council’s first quarter CBD vacancy audit has reported that the vacancy rate is at its lowest since recordings commenced in 2012, despite the challenges faced by the community over the pandemic.
The CBD precinct has a catchment of over 630 premises and for the purpose of the audit only includes vacant locations that have a current for lease sign.
As part of the Shepparton CBD Revitalisation Project, the CBD has been home to a number of recent minor and major projects in the past few years, including the Vaughan Street Redevelopment, Maude Street Revitalisation project, the installation of tree bud lighting and the current Maude Street Mall Redevelopment.
The projects have been funded by the Greater Shepparton City Council with support from Federal and State Governments.
These initiatives have all helped grow confidence and diversification in investment, improving aesthetic appeal and encouraging locals and visitors alike to enjoy outdoor dining, new business experiences and offer more employment opportunities.
Within the past 12 months a number of new businesses have joined Shepparton’s CBD or expanded into neighbouring shopfronts.
These businesses range from retail stores, eateries and professional services, to health and wellbeing, with a combination of locally owned businesses and those from outside the region.
Council’s recent Shopfront Improvement Grants offered local Shepparton CBD Businesses (and the commercial areas of main streets in small towns) the opportunity to apply for up to $2,000 funding; to contribute to the costs associated with improvements to the façade, which has been received well by local businesses.
Greater Shepparton City Council Director Sustainable Development, Geraldine Christou, said, “The future is bright for our CBD retailers and traders.
“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 very 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”.
