The lord mayor of Melbourne says recent figures show the City of Melbourne is going through a “retail renaissance”. 

The City of Melbourne released its latest Shopfront Audit on Tuesday, revealing the city recorded its lowest shopfront vacancy rate since 2020, and Melbourne’s vacancy rate is the lowest in the country. 

“85% of all shopfronts in the city are now occupied… we are turning things around,” Lord Mayor Nick Reece said on 3AW. 

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Reece noted that despite the “incredible” figures, there are still areas in the city that need work.

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