Manly Corso Shopping strip named one of the most sought-after in nation - ahead of a city street

MANLY is one of the best places in Australian for retailers to set up shop, according to a survey. And The Corso even beat George St in the city as the strip firms most want to be part of

Shoppers Gorana Banovic and Stefanie Schoeninger on Manly Corso.

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MANLY is one of the best places in Australian for retailers to set up shop, according to a survey.

And The Corso even beat George St in the city as the strip firms most want to be part of.

The 2016-17 Inside Retail Australian Property Report put The Corso at No.9 on the list.

Survey bosses said it even beat well-known places such as Cavill Ave in Surfers Paradise, Queensland, which didn’t even rank.

George Street in Sydney came below The Corso in Manly in the survey

The Corso in Manly.

The survey looked at locations for retail spending, tourist trade and “surrounding economic factors”.

And the fact that Manly’s eight  million visitors a year walk from the ferry wharf to the beach directly down the street gave it a big boost.

Retail guru Brian Walker from Retail Doctor, who lives in Freshwater, said the local flavour was a big part of the attraction.

“It is the community that draws the tourists,” he said.

Sydney’s city streets also featured in the retail survey. Picture: John Appleyard

“If it is only the big brands, such as McDonald’s or KFC, that can afford the rent, then that is a problem.

“It is a challenge for the landowners and asset owners. High performing shopping precincts around the world do try and keep a localised flavour to their precinct mix.”

Indeed, the prices for a prime spot are part of the attraction, according to northern beaches commercial real estate specialist, Patrick Kelleher, from Pine Property.

A retail expert issued a warning about big names heading to the street.

“Corso rents typically range from around $1800 to $3500 per square metre annually, while the Inside Retail report puts Pitt St rents at $12,000 to $15,000 per square metre,” he said.

“The vast majority of Corso property sales occur off market,” Mr Kelleher added, which pushes up the demand.

A branch of Tigerlily opened on The Corso, Manly last year. Braden Fastier

And he said big-name brands were keen to move in.

“We recently placed Tommy Bahama and Tigerlily and we are seeing increasing inquiries from international retailers,” he said.

“Retailers benefit from the huge exposure to domestic and international visitors. This is coupled with a strong local market and translates to high demand and low vacancy rates – in the order of only a few per cent.”

Pitt St Mall is the most sought-after strip in Australia.

The Top 10

1. Pitt St Mall Sydney

2. Bourke St Mall, Melbourne

3. Queen St Mall, Brisbane

4. Murray St Malls, Perth

5. Collins St, Melbourne

6.  Rundle Mall, Adelaide

7.  Chapel St, Sth Yarra

8.  Toorak Rd, Toorak

9.  The Corso, Manly

10. George St, Sydney