The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterMon 24 Nov 14

International Retail Giant Set To Shake Up Sydney's Pitt St Mall

s

The first Australian store of cosmetic giant Sephora is set to open on December 5 in Sydney’s Pitt Street Mall.


According to 

The Australian, the opening of the major chain will increase pressure on nearby department stores.


Sephora is set to offer its customers the largest range of cosmetic and beauty products under one roof in Australia.


Sephora is owned by the world's leading luxury goods group, LVMH Moet Hennessy Louis Vuitton and has 1900 stores in 29 countries.


The Pitt Street store is set to be located in the former Esprit site and will be about 800 square metres.


Zara, Uniqlo and within the next 18 months H&M and Forever 21 are other international labels located on that strip and Pitt Street has been voted the fifth most expensive retail strip by rent square metre in the world.


Fortius said the arrival of the international brands, with the latest being UNIQLO to our Pitt Street, vindicates the maturing of the local retailing scene, where the new brands are giving the area a new vibrancy.


Fortius' Project Director Sam Sproats told The Brisbane Times, "It's a significant milestone and all tenants in Mid City should benefit from the international arrivals as it brings customers of all ages back to the CBD, at a time when we believe the retail sector is on an upward trajectory but for the RTRL principle (right tenant right location)."In the latest CBRE for the third quarter of 2014, it says retailer demand in Asia Pacific remained generally subdued but recorded strong leasing activity in several markets such as Japan, Australia and emerging Southeast Asia.

The report showed that over the three months to the end of September, Asia Pacific recorded its fastest rate of growth in six years, with CBRE's Asia Pacific Retail Rental Index increasing two per cent quarter-on-quarter, slightly up on the 1.8 per cent quarter-on-quarter in the second quarter.

This was mainly driven by strong activity in Tokyo, Melbourne and Sydney, which all saw strong demand for prime space. Other noteworthy performers include Jakarta, up 7.1 per cent quarter-on-quarter, and Manila, up four per cent quarter-on-quarter.

Feature image source: The Australian, Photo: Mark Kolbe

RetailAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
View All >
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
Planning

Bipartisan NSW Planning Reform a Welcome Surprise

Patrick Lau
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
From Main Beach apartments to Southport towers, projects are frozen while receivers trace investor funds and builder cla…
LATEST
Darwin Sentinel Industrial East Arm Deal hero
Industrial

Sentinel Property Expands NT Portfolio with $57.4m Buy

Phil Bartsch
2 Min
Planning

Bipartisan NSW Planning Reform a Welcome Surprise

Patrick Lau
5 Min
Legal

Court Freezes Assets as $160m Property Scheme Unravels

Vanessa Croll
2 Min
a land lease community home in white at a gemlife development, a type of home which could be the answer to the housing crisis
Residential

‘We are the Solution’: Land Lease Shake-Up Stirs into Life

Renee McKeown
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/sephora-set-to-shake-up-sydneys-retail-precinct