This article is from the Australian Property Journal archive
LUXURY Swiss watchmaker Omega will open its first flagship store in Brisbane, after securing prime retail space at 188 Edward St.
Colliers International’s Sam Degn negotiated the lease off market on behalf Conias Corporation and said the Swiss watchmaker had been looking to enter the Brisbane market over the last 18 months.
Omega will open its store in October 2018 after committing to a two-level tenancy totalling 282 sqm. The five-year lease will commence in line with the completion of the building’s upgrade.
“Omega’s significant commitment to this site demonstrates their aggressive global expansion strategy which is based on sourcing prime locations in luxury CBD precincts. The heritage aspect of the building as well as the corner location is what appealed to Omega; it was the ideal location for their new flagship Brisbane store,” Degn said.
Head of retail Michael Bate said there are a number of international luxury brands, who are established in Sydney and Melbourne, who are now turning their attention north and looking to get into the Brisbane market.
Degn said Edward St is one of Brisbane’s highly sought after, established luxury precincts which is likely to attract further attention from high end global brands once its redevelopment is completed in two years time.
“The impending Edward St ‘Luxury Runway’ project will be Brisbane’s premier high-end retail core and will transform Edward St into a showcase St to compliment the new retail precinct that has emerged over the past few years.
“Brisbane City Council’s plan is to widen footpaths, reduce the road from four to three lanes, and carry out beautification work from Queen St to Charlotte St that will include tree planting, stylised lighting and seating,” Degn said.
Australian Property Journal
