This article is from the Australian Property Journal archive
INTERNATIONAL upmarket shoe retailer BeautiFeel will open a flagship store in Melbourne's CBD, after securing space at 90 Collins St.
BeautiFeel has leased 73 sqm of space at the foot of GE’s 90 Collins St at the Paris end of Melbourne’s CBD.
This is the 10th store for the retailer, which has nine retail stores around the world including one at Chatswood Chase in Sydney.
The deal was negotiated by the CBRE retail services team of Max Cookes and Zelman Ainsworth. BeautiFeel has taken a seven year lease term paying an initial annual rental of circa $180,000.
Ainsworth said 90 Collins St had recently undergone a major refurbishment.
“The recent activity by luxury international retailers has certainly added more confidence to other international and local retailers that were holding off from implementing their retail expansion plans in the Melbourne CBD retail market,” Cookes said.
The most recent deals included Paul Smith at 120 Collins St, Cartier at 101 Collins St, Tiffany & Co. at 267 Collins St and Max Mara who recently took over the lease from the embattled local retailer GASP at 161 Collins St.
“The CBRE retail services team is currently working with a large number of both international and local retailers that are looking to secure a presence in the Melbourne CBD prime and secondary retail markets,” Cookes said. “This strong demand from major retailers and very low vacancy rates can be credited to the rental growth in the Melbourne CBD retail core.”
Property Review
