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FKP Opens Up Prominent Melbourne CBD Corner

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Written by Marc Pallisco   
Wednesday, 22 August 2012 00:53

QUEENSLAND born, Sydney based property developer and investor FKP has opened up the ground retail level of a CBD office building occupying the prominent south-west corner of Lonsdale Street and Hardware Lane.

After being used as a non-retail break-out area by students at Taylors College for years, the 280 square metre space, formerly identified in the street by its dark tinted window-film, has been sub-leased to a unique new business which hopes to make an impact on Hardware Lane, considered one of the city’s highest character strips.

Shadows of Envy is a cafe/bar which will be decorated by works from artists including amongst others, photographers, fashion designers. Items will be for sale a week after they are displayed, and the business hopes to convince the City of Melbourne to one day host regular catwalks down Hardware Lane.

Andrew MacGillivray of Bayley Stuart Commercial Property Consultants negotiated the lease, understood to be at a rate of $800 per square metre, per annum. The lease period is for two years. FKP has unsuccessfully tried selling 399 Lonsdale Street (pictured, above) for about $35 million for more than a year.