Topshop to open third Melbourne outlet in Myer Emporium

UK fashion retailer Topshop will open up its third Melbourne store in the new Myer Emporium, currently under construction in the CBD.

The lease agreement with Topshop was announced by the owner of the $450 million development, listed property trust CFS Retail Trust, as part of its annual results presentation.

News of the third Topshop lease follows GPT Group revealing in its half-year results earlier this month that Topshop would lease space at its Highpoint Shopping Centre in Maribynong.

Topshop opened its first Melbourne outlet on the Chapel Street strip in South Yarra in December last year.

CFS Retail Trust also revealed that another major international retailer is carrying out due diligence on a lease in Myer Emporium.

Emporium Melbourne is the Lonsdale Street component of the redevelopment of Myer Melbourne. The Bourke Street component was opened in March last year.

Emporium Melbourne will include 38,000 square metres of retail space and is scheduled for completion in late 2013.

CFS Retail Trust reported a net profit of $409.2 million, 23% lower than $532.6 million it reported last year.

The REIT owns a $7 billion portfolio of shopping centres including Chadstone Shopping Centre in Melbourne, Chatswood Chase in Sydney and the DFO chain.

Topshop is wholly owned by Phillip Green from the Arcadia Group and first existed in the basement of a Peter Robinson department store in 1964.