Who says the humble bookshop is dead?
Predictions for Australia’s bookshop industry might be full of woe, but someone forgot to tell one Melbourne retailer.
Readings has taken out leases for two new stores in Melbourne, expanding its bookshop offerings from five to seven, despite some reports suggesting the industry is declining by more than 10% each year.
The independent retailer jumped when clothing label Esprit vacated its Carlton outlet at 315-317 Lygon St, which is situated just steps from another Readings’ store.
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It inked a five-year lease with options, in a deal negotiated through agents George and Larry Takis from Teska Carson.
Readings also revealed it will open a store at Westfield Doncaster in August.
In a statement on its website, Readings says its children’s section in Carlton has outgrown the store and needs significantly more space.
“This new shop will be a dedicated children’s bookshop, exclusively selling books, music and films for kids and teenagers,” Readings says.
“Children’s publishing is booming, and the children’s and YA section in the existing Carlton shop needs room to grow, so it will be moving entirely into the new shop where it will be significantly expanded.”
“Our second new shop is opening in Westfield Doncaster shopping centre and will be a generalist independent bookshop, stocking a range of adult and children’s books, plus CDs, DVDs, vinyl, stationery, gift items, and more. Readings Doncaster will be opening at the beginning of August 2016.
George Takis says the Carlton lease begins in April, and is a vote of confidence in Australia’s book industry.
“It shows that retail still lives on,” Takis says.
Children’s publishing is booming, and the children’s and YA section in the existing Carlton shop needs room to grow
“The landlord is local and knows Readings quite well. They’ve been in the area for a long time and they seem to trade really well. Every time you go past there’s people going in and out of there constantly.”
Takis says Readings beat a number of high-profile prospective tenants to secure the property.
“They were one of quite a few people in the mix. We had a couple of interstate tenancies … who were banging the drum,” he says.
“We believe that the concept that Readings is going to do there will actually work extremely well.”
“At the end of the day, they got the deal done and I think they’ll be very happy with it.”