Dolce & Gabbana coming to town
The label, which has been fronted by the likes of Scarlett Johansson and Monica Bellucci, is expected to open its doors by the middle of the year in a new high-end retail and food precinct at 171 Collins Street.
D&G will occupy the front of the heritage-listed Mayfair Building, taking about 320 square metres on the ground and first floor.
Owners Charter Hall and CBus Property are close to completing a $280 million redevelopment of the property, which includes a new 17-floor office tower - the future headquarters of BHP Billiton - that is connected to the Mayfair through a retail arcade.
The four remaining available retail spaces, ranging from 232 sq m to 424 sq m, are expected to be leased to restaurants.
Listing agency Fitzroys is believed to have negotiated the deal with D&G but the firm declined to comment.
The so-called "Paris end" of Collins Street is already home to more than 20 luxury brands including Chanel, Prada, Hermes, Bally, Cartier and Gucci. Retailers pay about $4000 per sq m net to secure a spot on the prestigious strip.
Max Cookes, associate director of retail services for agency CBRE, said the arrival of luxury brands made the precinct attractive to other retailers. "The neighbouring tenants is one of the most crucial factors for these brands when identifying a suitable site," he said.
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Dolce & Gabbana is expected to open its flagship outlet at 171 Collins Street by the middle of the year, launching in a new high-end retail and food precinct on the Paris end of Collins Street.
D&G will occupy about 320 square metres across the ground and first floor at the front of the heritage-listed Mayfair Building at 171 Collins Street.
Owners Charter Hall and CBus Property are close to completing a $280 million redevelopment that includes a new 17‑floor office tower linked to the Mayfair Building by a retail arcade, alongside the upgraded retail and food precinct.
The new 17‑floor office tower is expected to become the future headquarters of BHP Billiton, according to the redevelopment plans.
The article notes that the arrival of high‑profile luxury brands like D&G tends to make the precinct more attractive to other retailers; CBRE’s Max Cookes said neighbouring tenants are a crucial factor for luxury brands when identifying sites, which can support leasing demand in the area.
Retailers on the Paris end of Collins Street pay about $4,000 per square metre net to secure a spot on the prestigious strip, the article reports.
The Paris end is already home to more than 20 luxury brands, including Chanel, Prada, Hermès, Bally, Cartier and Gucci, according to the article.
Four remaining retail spaces ranging from 232 sq m to 424 sq m are expected to be leased to restaurants; listing agency Fitzroys is believed to have negotiated the D&G deal but declined to comment.
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