Retailer corners top spot
JD Sports locks in CBD store
‘‘ THE SPACE PRESENTED A RARE RETAIL LEASING OPPORTUNITY IN ONE OF THE BRISBANE CBD’S MOST CENTRAL PRECINCTS, AND THE DEAL WAS A SIGNIFICANT ONE FOR THE MARKET.
LACHLAN PERSLEY
A GIANT British sports fashion retailer has secured one of Brisbane’s best known CBD retail properties in an emerging streetwear hub.
JD Sports has signed a long-term lease at 162 Albert St, on the corner of Elizabeth St, to be its first Brisbane CBD store.
The well-known site was previously occupied by British fast fashion outlet Topshop and before that Borders bookstore.
Knight Frank’s Lachlan Persley, who struck the deal with Michael Hanscomb of Belle Property, said JD Sports would occupy 2084sq m over three floors in what is the biggest per square metre retail lease in the CBD over the past couple of years.
“The space presented a rare retail leasing opportunity in one of the Brisbane CBD’s most central precincts, and the deal was a significant one for the market,” he said.
“JD Sports wanted its first Brisbane store to be in a prominent position within the city, and this corner site provided great exposure to passing
traffic, including shoppers and cars.”
The retailer is scheduled to move into the flagship store next month.
The store, with 60m of dual frontage, is near other streetwear retailers General Pants Co, Fast Times and Culture Kings in Elizabeth St. Mr Persley
also struck those deals.
JD Sports has stores in Victoria, NSW and the Gold Coast.
Based in Manchester, it is renowned for its men’s and women’s sneakers, which include limited edition and exclusive designs.
Mr Hanscomb said retail space on Albert St was always very tightly held.
“It’s very rare to have vacancies, with this precinct being almost more desirable for retailers than the Queen Street Mall,” he said.
“Thanks to smart infrastructure investment and attractive streetscaping, Albert St has evolved into a lifestyle and dining destination.
“The Albert St precinct is the only seven-day-a-week trader, benefiting from being a very busy focal point for office workers, students, tourists, business travellers and local shoppers in the CBD.”