Bondi shop leased to fashion swimwear label goes to auction

Bondi shop leased to fashion swimwear label goes to auction
Bondi shop leased to fashion swimwear label goes to auction

A strata store leased to men’s designer swimwear brand Orlebar Brown in Sydney’s Bondi Beach will go under the hammer on September 6. 

The British label recently opened its flagship store on 1/79 Gould Street, Bondi Beach, signing a six-year lease that commenced in June.

Orlebar Brown’s entry is another example of Bondi’s status as an affluent beachside location and joins the swimwear label’s other top-end locations such as St Tropez, Cannes, London’s Notting Hill, Mayfair and New York’s Soho.

Gunning’s director of Metropolitan Sales and Investments Tom Speakman said Bondi has undergone many changes and is a tightly held commercial and retail property market.

“Bondi is one of the hottest locations in Australia with its mix of high end brands and popup shops, eateries, luxury accommodation and lifestyle products,” Speakman said. 

In the last 30 years, Bondi has grown from a suburb with a median house price of $246,000 to recording one of the highest apartment sales in the country at $25.2 million at the renowned Pacific Bondi Development, according to the media release.

“The locals are affluent, with a high proportion of professionals, creatives and merchant bankers living in the area. Sixty per cent of residents are in managerial or professional roles, earning some 50 per cent above the Sydney average wage, which makes it appealing to retailers,” Speakman said.

The net rental for the 57 sqm store is $105,102 annually, exclusive of GST with options until 2026. There will be four percent increases from 2019.

The property will be auctioned at auctionWORKS at Sydney’s  50 Margaret Street.

The listing agents are Tom Speakman and Harry Sullivan of Gunning Real Estate.

 

 

Tags: 
Commercial Auction Bondi Beach

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