This article is from the Australian Property Journal archive
BRITISH sportswear giant JD Sports will open its first Brisbane store in the CBD space formerly occupied by compatriot fashion retailer Topshop.
Knight Frank’s Lachlan Persley and Michael Hanscomb of Belle Property negotiated the lease of 2,084 sqm over three floors at 162 Albert Street, on the corner of Elizabeth Street, in what is one of the biggest retail deals in the city over recent years.
The property, which sits on the corner of Albert Street and Elizabeth Street in the CBD, has 60 sqm of dual frontage and three floors of contiguous retail space.
“JD Sports wanted its first Brisbane store to be in a prominent position within the city, and this corner site provided great exposure to passing traffic, including shoppers and cars,” Persley said. “It’s one of the busiest street corners in Queensland, and is in close proximity to the Queen Street Mall, which has more than 26 million visitors each year.”
The property has a 60 metre frontage and has also been tenanted by bookstore Borders.
Hanscomb said retail space on Albert Street had always been incredibly tightly held, so opportunities to secure a well-located and modern retail offering on the street were few and far between.
“It’s very rare to have vacancies, with this precinct being almost more desirable for retailers than the Queen Street Mall.
JD Sports has an existing store on the Gold Coast, as well as locations in Victoria and New South Wales.
It joins French sports and activewear operator Decathlon as international majors expanding through Australia’s changing retail landscape, which has also seen the likes of Amazon, Debenhams and Kaufland recently land down under.
