Cosentino City comes to Melbourne
Spanish furnishings group Cosentino will roll out a five year old concept store, City, in Melbourne, after leasing an ex-bank chambers on Collins Street.
The retailer is paying starting annual rent of $280,000 for the 539 square metre ground floor and basement tenancy within the Art Deco National Bank building at #460, on the north west corner of William St.
With options it can stay until 2042.
A major fit out, retaining features of the c1939 building, is expected to take 12 months.
The deal comes a year since a Cosentino City opened at Sydney’s One Hyde Park, at the south east corner of Elizabeth and Liverpool streets.
Outside of Australia, it operates from 25 outlets including in Amsterdam, London, Los Angeles, Milan, New York, Paris, Singapore, Tokyo and Toronto.
The first Cosentino City was in Dubai.
Melbourne makes 27
The Melbourne Cosentino City showroom will service, amongst others, designers and developers.
“The City concepts focus on delivering and creating spaces that design and architecture professionals can meet,” a statement said, adding the space will dub for conferences and networking events.
Advisory services will also be offered (story continues below).
“This is a space that can accommodate a wide range of uses,” Fitzroys’ James Lockwood, who marketed the property as a whole or in two parts, with Franklin Gikas and Travis Keenan, said.
“Cosentino was attracted to the…location in the new heart of Collins St,” he added.
“The CBD core has shifted west with the introduction of the new Collins Arch and Olderfleet commercial developments and the location services a huge office, hotel, apartment and city shopper population,” according to the executive.
Varga Brothers has owned 460 Collins St for 20 years.
Elsewhere in the western core, Hickory, Hines and GIC with Charter Hall are proposing major commercial buildings.
“Our CBDs are becoming designated places for collaboration, sharing and formulating ideas, and networking,” Mr Gikas said.
“The new Cosentino showroom is well placed to complement post-COVID ideas of the modern CBD work experience,” he added.
Cosentino has serviced Australia for years from a warehouse at Melbourne’s south east Heatherton.
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