Charter Hall has snared two high-end fashion retailers as tenants for its Raine Square development, in the Perth CBD.
Tiffany & Co and Kailis Jewellery have signed
long-term leases within the development on the corner of Murray, Queen,
Wellington and William streets, with direct access to the Perth underground
train station.
Also set to include a Louis Vuitton store and dining offerings, the $120 million development is set to be officially opened by WA Planning Minister Rita Saffioti MLA on Friday.
“The newly revitalised Raine Square…is situated in one of the most prominent locations in the city, accessed by thousands of commuters, shoppers and tourists each day,” Charter Hall managing director and group chief executive officer, David Harrison, said.
“Charter Hall has utilised its in-house development
expertise across both the office and retail sectors along with its local asset management team to
deliver a more accessible and connected destination that provides multiple
benefits, strengthening amenity for Raine Square’s commercial tenants and
providing an exciting asset for the wider Perth community”.
Tiffany & Co Australia and New Zealand vice president
and managing director Glen Schlehuber added its new store “will provide our
clients with the renowned quality, craftmanship and style they expect from
Tiffany, in a beautiful new environment”.
George Kailis, Executive Chair of MG Kailis Group said Kailis
Jewellery outlet will be the brand’s flagship in Western Australia.
“The location of the store in the emerging CBD Raine
Square luxury precinct will present our fantastic jewellery to more West
Australians and visitors than ever before.”
Kailis Jewellery employed designer David Smith of United
Studios to create its space.
Charter Hall began constructing Raine Square last May. It will include 18,000 square metres of space including Perth CBD’s only cinema – Palace, and Michelin-starred restaurant, Tim Ho Wan. It will also include 60,000 sqm of office space.
The Sydney-based fund manager, investor and developer has acquired numerous sites across various commercial property sectors this past year. Hyperlinks in this recent article about Charter Hall acquiring a Docklands, Melbourne, office, cover many of them.
Last November we reported that Tiffany & Co was opening its first Australian pop-up store at the Emporium shopping centre in the Melbourne CBD.