Melbourne, 07 November 2013 - International fashion retailer Rhodes & Beckett has renewed its lease at 495 Collins Street in a deal indicating growing confidence in Melbourne’s CBD retail precinct.
Located at the ground floor retail of the InterContinental Hotel in the heart of the Melbourne CBD, the 105sqm shop is strategically located with high brand exposure and within close proximity to the city’s most prominent office towers. Rhodes & Beckett has renewed its five-year lease at an annual rental of $1,461sqm.
CBRE’s Zelman Ainsworth, who negotiated the deal in conjunction with fellow agent Cam Taranto, said the property’s central location was a key factor behind the deal.
“This store adds to Rhodes & Beckett’s exposure on Collins Street, with their other outlets strategically located next to Cartier at 101 Collins Street and alongside Thomas Pink at 333 Collins Street,” Mr Ainsworth said.
“The Rhodes & Beckett store at the west end of Collins Street will add value to the already established tenancy mix in this precinct.”