Mystery financial institution embarks on east coast stree...

Mystery financial institution embarks on east coast streetfront retail expansion

Larry SchlesingerDecember 7, 2020

An unnamed “national financial institution” has hired Colliers International to find 22 prominent retail locations to lease on high streets stretching from Kempsey on the Mid North Coast region of NSW all the way to Geelong in Victoria.

Seemingly bucking the trend of struggling suburban high streets and an overall subdued retail environment the unnamed financial institution is seeking half of the retail spaces around Sydney with 11 shopfronts sought in suburbs including Belmore, Five Dock, Potts Point, Rozelle and Surry Hills.

The campaign is being handled by Colliers International agent Mable Lee who said her client was seeking retail spaces in "heavy traffic areas" to offer financial services.

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Lee says she cannot disclose the name of her client but tells Property Observer a few submissions have been received since the campaign launched a few weeks ago.

The advertisement says the institution is seeking “strong retail locations” with “good exposure and street frontages” measuring in size from 120 square metres to 250 square metres.

A number of locations in the advertisement include specific street requests including for a shop on Elizabeth Street in Surry Hills.

Current real estate listings show just a handful of retail space available to lease on Elizabeth Street including these 220 square metre premises at 491 to 493 Elizabeth Street.

In Victoria, the institution is seeking shopfronts on Flinders Street in the Melbourne CBD and on St Kilda Road on the fringe of the city as well as in Hawthorn and Clifton Hill along with locations in Mornington and Whittlesea.

The full list of 22 locations is:

Regional NSW

Kempsey (Mid North Coast)

Blaxland (Blue Mountains)

Umina Beach (Central Coast)

Nowra (South Coast)

Sydney

Belmore

Forestville

Five Dock

Gladesville

Gymea