Independent operators and emerging businesses are being offered a once-in-a-lifetime opportunity to realise their business dreams, via a business boost of up to $150,000 per applicant, thanks to the launch of the West End Retail Kickstarter Grant.
The grants are being offered under an innovative expression of interest (EOI) campaign by Trennery Property, which is seeking to attract Melburnians with great ideas and an entrepreneurial spirit to take up tenancies within its West End precinct.
At 9,200sqm West End encompasses is bounded by Rosslyn, Dudley, Adderley, and Spencer Streets and is home to a vibrant, burgeoning community that lives within the four apartment buildings rising above the precinct.
Businesses simply need a business plan that can be activated within one of West End's available tenancies to be eligible for a Grant between $15,000 and $150,000. There are up to seven spaces available in West End's Wominjeka Walk, set across various sizes and layouts and making up a total of 3600sqm lettable space.
West End Retail Kickstarter Grant can be applied to business planning, leasing rebates, fit-out works, activation support, branding, marketing and more. To ensure each business is provided with every possible opportunity to succeed, in addition to the Grants, applicants can also apply for leasing support in the form of reduced rents or access to a percentage rent arrangement.
Trennery Property commissioned research by Propella.ai to get a clear view of the demographics that make up West Melbourne, and to curate a retail mix at West End that will prosper while seamlessly catering to the habits and needs of the growing community.
The population of West Melbourne is currently 7,619 people, and the research paints a picture of a culturally diverse suburb of young professionals with an appetite for trying new foods, flavours, and experiences.
The Propella.ai research identified that West End was ripe for budding businesses across the fields of health, wellness, IT, barbers, hairdressers, creatives, culinary services, and convenience services.
Beyond providing a springboard to successful Grant applicants, Trennery Property anticipates the activation of West End will complement the City of Melbourne's post-covid revitalisation plans for the CBD by contributing to renewed economic activity and visitation, which was $39.5million in 2019.
City of Melbourne Lord Mayor Sally Capp said it's great to see the private sector investing in initiatives like the West End Retail Kickstarter Grant program that complement Council's ongoing commitment to revitalising the CBD.
“Melbourne is renowned for its iconic laneways, unique shops and tantalising food destinations,” the Lord Mayor says.
"West Melbourne is an eclectic suburb that is rapidly transforming, and the West End Retail Kickstarter Grant will play a significant role in revitalising this wonderful pocket of the city.
“I can’t wait to see these shopfronts filled with creative and talented tenants. “I'm especially looking forward to seeing Wominjeka Walk – which means 'welcome' in the Woiwurrung language – come to life through this economy-boosting initiative."
Trennery Director, Robert Dicintio said, "The West End Retail Kickstarter Grant has been devised to foster inclusivity and remove many of the financial barriers entrepreneurs face when starting a business. "We're thrilled to offer emerging businesses the opportunity to test their ideas with confidence, thanks to the West End Retail Kickstarter Grant and twelve months of continued business support.
"The combination of prime location and a captive audience means successful applicants will have the stage set for their business idea to flourish," Mr Dicintio concluded. Applications for the West End Retail Kickstarter Grant will be reviewed by a panel of commercial and placemaking experts, with consideration to the precinct's values of inclusivity, authenticity, convenience, creativity, and enrichment, to ensure they will deliver economic, social, and community benefits to the area.
For more information about the West End Retail Kickstarter Grant, please visit: https://westend.melbourne/
