A landmark corner property tenanted by MOSCOT — has been brought to market by Stonebridge’s Strip Retail Investments.
Situated on the prestigious corner of Chapel and Oxford Streets, the building enjoys prominent exposure within the world-renowned Chapel St retail strip, home to brands such as Zimmermann, Country Road, Peter Alexander, SABA, Scanlan & Theodore, NAB, and many more.
MOSCOT, a 110-year-old, fifth-generation, family-owned eyewear institution, has selected 566 Chapel Street as its first Australian flagship store, marking its 34th global location.
MOSCOT have recently committed to a 5-year net lease providing the owners annual income of $180,000* + GST + outgoings, with 4% fixed annual increases.
Founded in 1915 by Hyman Moscot, the brand originated from a humble Lower East Side (NY) pushcart and has remained independently operated by the Moscot family.
The iconic brand now spans major cities including New York (6), London (4), Paris (3), Boston, Santa Monica, Toronto, Munich, Rome, Milan, Copenhagen, Amsterdam, Cannes, Zurich, Yokohama, Chicago, Kyoto, and more.
“MOSCOT’s decision to anchor its Australian presence at this site underscores the strength and prominence of the globally recognised retail location,” said Nic Hage, Director at Stonebridge.
Spanning two levels, two titles and two street frontages the property comprises 279 sqm* of fully refurbished retail space.
Stonebridge’s Nic Hage added: “South Yarra’s affluent demographic — where median incomes are nearly 74% above the Victorian average — supports demand for high-quality fashion and lifestyle brands.”
Exceptional connectivity is provided via South Yarra Train Station (300 m*) and tram routes along both Chapel Street (10 m*) and Toorak Road (100 m*).
Only 150 m * south of the property lies the highly anticipated Jam Factory redevelopment by GURNER™ Group and Qualitas’. The $2.75 billion mixed-use precinct is set to further bolster South Yarra’s retail precinct with, 600* luxury apartments, 20,000 sqm* of entertainment and retail, 10,000 sqm* of office space Two hotels & a Village Cinemas precinct.
Stonebridge’s Rorey James notes “566 Chapel Street is positioned to ride a wave of growth, underpinned by the development of the Jam Factory. The GURNER GROUP project’s mix of entertainment, retail, residential and office will attract a broad range of consumers that will benefit the broader retail precinct.”
566 Chapel Street, South Yarra is scheduled for Public On-Site auction Friday 5th September at 1.00pm, with Stonebridge’s Nic Hage, Rorey James & Ian Lam as the exclusive selling agents.
About the Team
Stonebridge’s Strip Retail Investments team is a market leader with over 30 years of combined experience, specialising in the divestment of metropolitan Melbourne strip retail assets. The team is supported by Australia’s largest and most experienced Asia-focused commercial agency — Stonebridge Asia Practice.
For further details, please contact: Rorey James, Nic Hage, Ian Lam
Please visit our website at: https://stonebridge.com.au/.
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