Socialite tailor Patrick Johnson buys Collette Dinnigan's William Street store

William Street, Paddington hasn't lost its lustre after fashion designer turned property investor Collette Dinnigan recently offloaded her former shop premises.

The mystery buyer has emerged as Patrick Johnson, the tailor to Sydney's well dressed business types and socialites.

Johnson will no doubt be busy this week at his exisiting nearby P.Johnson Tailors premises, fitting suits and shirts for racing lovers as they prepare to head to Royal Randwick for The Everest this Saturday.

P.Johnson Tailors also has stores in New York and London.

The expansionary P.Johnson Tailors was recently described in GQ as London's hottest new tailoring story.

Johnson will fit out the William Street space which had been trading as fashion designer Muchacho Clothing (above and below).

The shop will be Johnson's fourth across the country, and third in Sydney having established the company in 2008. 

Johnson's shuffled around his private residential property portfolio last year, swapping Darling Point for Taramara with his wife, interior designer Tamsin Johnson who also runs Tamsin Johnson Interiors.

Having spent $3.85 million in Tamarama, the designer couple sold their Yarranabbe Road apartment for $1,755,000.

Ivan Bresic at Bresic Whitney Darlinghurst secured the shop sale after having a $1,625,000 guide. 

Dinnigan had owned the property since 1998 when she paid $625,000, but she had been renting out the space over recent times.

Her link to retail village dated back to 1992, her earliest days in fashion, when and living above the premises since 1992,.

Jasmine Yarborough, the shoe making fiancé of breakfast television co-host Karl Stefanovic, has leased William Street space for her Mara & Mine collection which she launched with best friend Tamara Ingham.

This article was first published in the Daily Telegraph.