This article is from the Australian Property Journal archive
FRENCH luxury retailer Hermes is the owner of the retail stratum of the heritage Trust Building in Sydney’s The Rocks – home of its own future flagship store.
The four floors traded for $105 million in July and are currently being converted into two levels and fitted out for Hermes.
The 12-storey strata building at 155-159 King St is on the corner of Castlereagh St and was home to the offices of The Daily Telegraph from 1916 to 1929, and following a renovation was bought by the Bank of New South Wales – now Westpac – in 1936.
Qualitas reportedly funded the building’s recent circa-$30 million refurbishment. The company’s website says it “provided a total capitalisation solution and development management services to assist the owner with the significant overhaul and refurbishment of the building, in order to accommodate the repositioning of the heritage space into a flagship store for a global retail fashion house”.
