Perth, 26 April 2016 – Hawaiian has secured leading apparel retailer Bendon Lingerie as a new tenant for The Colonnade shopping centre in Subiaco.
CBRE’s Craig Olde negotiated the lease, bringing an international retail offering to Subiaco’s Hay Street precinct.
“The landlord was able to provide market commercial conditions to secure the retailer, who will operate a 150 square metre, multi-brand outlet style store,” Mr Olde said.
“The lease is a welcome boost for the Subiaco retail market, which has experienced difficult conditions in recent years but is moving into a recovery phase.”
A flexible arrangement has been agreed, with the lease term totaling five years.
While the rental remains confidential, current market rents for Hay Street part of Subiaco retail space are circa $500-600 per metre.
Bendon brands, which include Davenport, Heidi Klum intimates and Stella McCartney, are distributed through 4,000 stores in 34 countries worldwide.
The Colonnade is a mixed-use property in the fashion and cafe precinct of Subiaco. Existing tenants include a Goodlife Health Club, Sportsgirl and Bageutte Me Not.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.