George’s Building to welcome Aesop flagship store

6 April 2022

Aesop will soon open a new Melbourne CBD flagship store at the iconic George’s Building at the Paris end of Collins Street.

In an off-market deal negotiated by Colliers’ CBD Retail Leasing Manager, Jennifer Tai, and Colliers’ Victorian Director of Retail Leasing, Adam Lester, Aesop will occupy approximately 79.3sqm at the Georges Building at 162 Collins Street in Melbourne.

The lease will see Aesop create a new prime CBD flagship premises in the former Dolce Firme space, neighbouring Christian Louboutin, in the Georges Building.

Ms Tai said prime CBD retail opportunities at the sought after Paris end of the CBD are hard to come by.

“Well-established national and International operators still want to cement a presence in the Melbourne CBD and, in most cases, are expanding their floor areas to accommodate for new experience-based concepts to draw customers in and offer a wider range of products in-store,” she said.

“We have been fielding a significant amount of interest for retail space in the city, there hasn’t been a lack of demand.  Prime CBD locations are still generating high levels of interest and demand is being driven by more established retailers in general.”

Mr Lester said larger retailers were using this year, and the past six months, to expanding invest in their store footprints.

“Properties with a point of difference are leasing particularly well, and this flagship site in the George’s Building is no exception,” Mr Lester said.

“We have tenants on Collins Street, Bourke Street and other prime retail areas relocating within the CBD to take on larger spaces to accommodate improved concepts. Existing operators are utilising current market opportunities to grow their presence in the CBD, many of them in the fashion, accessories and beauty sectors and also a lot of food and beverage operators.

“They’re using this time to establish themselves for the return of customer traffic and we are seeing a wide introduction of exciting new formats that will change the way people experience Melbourne’s best retail. There is an opportunity here that did not exist pre-pandemic.”