This article is from the Australian Property Journal archive
FAMED stamps, coins and currency merchants Max Stern has moved to 271 Collins St, after it was displaced by the Metro Rail project works.
Max Stern has signed a lease over 341 sqm in a deal negotiated by Fitzroys’ Jordan Ceppi, which involved combining 237 sqm 8B and 104 sqm 9D spaces within the building at $90,000 per annum net and $65,000 per annum net respectively, both at 4 x 4 x 4 years.
Named after its founder, the late Max Stern AM, the store was previously located within the Port Phillip Arcade, which was compulsorily acquired for the Metro works, alongside City Square, part of Federation Square and the southern part of Swanston St.
A young Max Stern initially began operating the business under his name in
Czechoslovakia’s Bratislava in 1939 and traded through most of World War II. He and his wife Eva left for Australia in 1948 and had re-established the business in Melbourne by 1950.
“The displacement from its previous tenancy afforded the Max Stern business the opportunity to secure a new premises in a premium CBD position and within one of the city’s most renowned commercial buildings, as it embarks on the next chapter in its rich history,” Ceppi said.
The 271 Collins St commercial building, formerly the NAB headquarters, is positioned on a 6,000 sqm site on the corner of Collins and Elizabeth Sts and comprises 37,000 sqm across a north tower with ground and mezzanine floor retail areas, and ten levels of office space, and south tower with ground floor retail and eight office levels.
Australian Property Journal
