Global Retailer To Transform Historic CBD Banking Chamber

Posted on 28th October 2022

Global retailer Cosentino will transform a historic Art Deco Melbourne CBD former banking chamber into a concept showroom to inspire architecture and design professionals.

Cosentino leased the 539 sqm space over the ground floor and basement of 460 Collins Street - the long-term former home of NAB, on the high-profile corner of William Street - on a long-term 10-year deal with two five-year options at $280,000 per annum net.

Fitzroys’ CBD retail leasing team Franklin Gikas, Travis Keenan and James Lockwood negotiated the deal on behalf of a private landlord.

Cosentino is a world leader in the production and distribution of high-quality innovative surfaces for architecture and design. Over the next 12 months they will transform the historic banking chamber into a Cosentino City concept location, adding to its existing 26 City concepts in locations such as London, Manhattan, Paris, Dubai, Tokyo and Amsterdam.

The City concepts focus on delivering and creating spaces that design and architecture professionals can meet and be inspired, while also offering advisory services for projects, conferences and networking events, digital and physical tools and materials for professionals to familiarise and interact with the company’s surfaces, and the ability to create material combinations.

“Our CBDs are becoming designated places for collaboration, sharing and formulating ideas, and networking. The new Cosentino showroom is well-placed to complement post-COVID ideas of the modern CBD work experience,” Gikas said.

The 460 Collins Street space features a high-clearance 413sqm ground floor area and an internal stairway link to the basement level, with heritage features from the original 1930s banking chamber having been retained.

“This is a space that can accommodate a wide range of uses, and we had interest from prestige retailers, supermarkets, and showroom users, through to major hospitality operators,” Lockwood said.

“Cosentino was attracted to the property’s location in the new heart of Collins Street. The CBD core has shifted west with the introductions of the new Collins Arch and Olderfleet commercial developments and the location serves a huge office, hotel, apartment and city shopper population.”

Fitzroys’ Gikas, Lockwood and Keenan have recently negotiated a number of brand-new retail leasing deals in the CBD to a mix of local, interstate and global tenants. The signees include Melbourne contemporary fine jeweller Melanie Katsalidis, Florence-based perfumery Santa Maria Novella within Royal Arcade, while Sydney-based Moi Moi Jewellery and Maelle Bridal took up space at 271 Collins Street, and video game, merchandise and electronics giant EB Games moved its flagship to 48 Elizabeth Street.

Keenan said CBD businesses are looking towards an ongoing rebound in day-to-day trade over spring and summer as more people return to the workplace, in addition to the bounce-back seen in night-time activity and weekend visitation.