Brisbane City Council render of Edward St beautification

Luxury watch retailer Omega will open its first Brisbane flagship after securing a two level tenancy to commence in 2018.

Located on Edward St in Brisbane’s CBD, the five year lease will commence in October 2018 after the building’s upgrade and $11 million redevelopment of Edward Street.

The announcement follows last weeks announcement of the luxury retailer securing a location in Sydney’s CBD.

“Omega’s significant commitment to this site demonstrates their aggressive global expansion strategy which is based on sourcing prime locations in luxury CBD precincts,” said Colliers Brisbane CBD retail leasing specialist, Sam Degn, who negotiated the lease off market on behalf of the owner, Conias Corporation. “The heritage aspect of the building as well as the corner location is what appealed to Omega; it was the ideal location for their new flagship Brisbane store.”

Degn said Edward Street is one of Brisbane’s highly sought luxury precincts, likely to attract further attention from high end global brands once its redevelopment is completed in two years time.“The impending Edward Street ‘Luxury Runway’ project will be Brisbane’s premier high-end retail core and will transform Edward Street into a showcase street to compliment the new retail precinct that has emerged over the past few years.”

Brisbane City Council plans, said Degn, are to widen foothpaths, reduce the road from four to three lanes, and carry out beautification work from Queen Street to Charlotte Street that will include tree planting, stylised lighting and seating.

International luxury brands, established in Sydney and Melbourne are now turning their attention north and looking to get into the Brisbane market, said Colliers Head of Retail, Michael Bate. “As more brands enter the Australian market, this luxury retail component in Brisbane will continue to grow.”

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