UBS locks four more tenants to ex-Australia on Collins
Four more tenants have committed to the ex-Australia on Collins shopping centre, also formerly known as St Collins Lane, which is being revamped.
The new owners have also announced a new name – Collins Arcade – and when the complex will again connect Collins and Little Collins streets, which has been closed since last September.
In the biggest deal, Priceline has leased 700 square metres on the first floor, which is set to become a healthcare focused precinct.
Healius Group will open next to it.
Meanwhile two fashion retailers have committed to the ground floor, MJ Bale for 120 sqm and Saba, for 150 sqm.
The deals come a year since we reported Kingpin leased the 3500 sqm ex-Debenhams tenancy, including the basement.
Co-work outfit Waterman Workspaces also rented 2000 sqm.
Tag Hauer, Swatch and Birkenstock had signed up before then.
With the latest commitments, 75 per cent of the four level 9301 sqm building at 260 Collins St is full.
Ainsworth Property’s Zelman Ainsworth, representing landlords Kaipara Property Group and UBS’ Asset Management Real Estate and Private Markets, said deals with a food beverage outlet, and retailers of athleisure and sporting goods, are also advanced (story continues below).
When it reopens in October, the complex will reopen to Little Collins St too, he added.
“This reopening will coincide with several major developments in the area including the new Town Hall Metro station which is opening in close walking distance of the precinct, in addition to the new Holiday Inn and Indigo Hotels,” according to the executive.
Collins Arcade
UBS acquired its majority stake in 260 Collins St with its takeover of Credit Suisse in 2023.
It later bought the smaller share from Vantage, and appointed Kaipara Property Group for the refurbishment.
“Collins Arcade will reclaim this property’s prominence in Melbourne’s CBD and we have extreme confidence in the Buildcorp team’s ability to deliver a project of this scale, complexity and importance,” Kaipara joint managing director, Toby Daniel, said.
“Leasing demand has continued to strengthen as tenants see the vision of Collins Arcade materialising together with the Melbourne CBD rebound to exceed pre-pandemic sales and foot traffic levels,” he added.
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