Perth, 09 November 2015 – Perth’s premier furniture and interiors destination The Furniture Gallery has secured a flagship showroom in Osborne Park.
The business has secured a 2,500sqm outlet at 415 Scarborough Beach Road amid rapid growth in Perth’s large format retail market.
CBRE Negotiator Alex Gismondi and CBRE Director of Large Format Retail, Richard Cash negotiated the 10-year lease for what will be the third store for The Furniture Gallery, following openings in Cockburn and Joondalup.
The Furniture Gallery will showcase a range of eclectic, contemporary and classic furnishings and home décor in interactive room settings. Sisters Sophie Langa and Chrissy Palmer, and their state manager, Lucy Gillespie, are the driving force behind the Furniture Gallery, which aims to change the face of the interiors market in Western Australia.
“We were frustrated with the lack of choice of eclectic, on trend furniture and home décor pieces in Perth that were reasonably priced, as well as the lack of expert advice available for people wanting to style their interiors,” The Furniture Gallery Director, Sophie Langa, said.
The Furniture Gallery’s decision to anchor their flagship store on the golden mile in Osborne Park was paramount, according to CBRE’s Alex Gismondi.
“Osborne Park is regarded as one of, if not the best performing, large format retail precincts in the country,” Mr Gismondi said.
“The fundamental approach from retailers to establish a new brand in WA is underpinned by securing a showroom on Scarborough Beach Road in Osborne Park. This new entrant to the market will further enhance the precinct by offering better foot traffic, variety and convenience to the public and surrounding businesses.”
CBRE’s Mr Cash said the showroom would further bolster the brand awareness of The Furniture Gallery in Perth’s diverse and rapidly expanding large format retail market.
“The showroom benefits from incredible exposure to dual lane Scarborough Beach Road, ample onsite customer parking and exceptional customer traffic flows generated by surrounding national and local retailers including, but not limited to; Officeworks, Freedom, Super Amart, The Good Guys, Archipelago and Furniture Bazaar, ” Mr Cash said.
While the agreed rental has not been disclosed, the asking rental was $250/sqm per annum, plus outgoings and GST.
For Australian/international news or global stories, follow us on Twitter. 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 2014 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.About CBRE Group, Inc.