King Street retail strip in Newtown, Australia is going vegan. The inner-Sydney suburb is now home to a range of vegan businesses, including Suzy Spoon’s vegetarian butcher, Lentil as Anything, Green Gourmet, Calle Rey, Vegan Fried Chick’n, and Vegan Mile.
Many suburban shopping districts have seen retail closures in recent years, but King Street is now home to several thriving independent businesses. The growing popularity of inner-city living and local shopping has helped boost occupancy rates in previously empty shop fronts. Independent breweries, bars, and vegan restaurants are opening in the previously unoccupied spaces.
Kieran Bourke, the associate director at Burgess Rawson, spoke to the Brisbane Times about the evolution of retail strips in Sydney. Bars, shops, and restaurants—such as those in Newtown—can bring in new clientele and encourage growth in the local area.
“This section of King Street has done exactly that with not only local clientele, but also from wider afield,” explained Bourke. “It is progressively developing an international reputation for those desiring top-quality yet affordable vegan cuisine.”
“The prospects for further rental and capital growth in the precinct are exciting,” he added. “And we are still in the early stages of what will be a continuing upward trajectory.”
Vegan food is increasingly popular worldwide, and Australia is no exception. The popularity of dedicated vegan establishments, such as Suzy Spoon’s butcher shop, reflect consumer demand for plant-based alternatives. According to a report released in 2019 by the independent research company Roy Morgan, more than 2.5 million Australians are now meat-free.
Roy Morgan also found that around 12.1 percent of the population eat food that is all “or almost all” vegetarian. This shows an increase of around three hundred thousand people since 2014. According to Roy Morgan, nearly half of all Australians were cutting back on their red meat consumption in 2018.
Research has linked red meat with an increased risk of serious health conditions, like cancer and heart disease. According to Cancer Research UK, taxing red and processed meat could reduce cancer cases by more than 8,000 every year.