COTTON ON SIGNS MEGA DEAL

Written on the 20 November 2013

COTTON ON SIGNS MEGA DEAL

 FASHION brand Cotton On will open in Cavill Avenue, Surfers Paradise next year.

Cotton On has reportedly signed a 10 year lease on the three-level, 1692 square metre property to house a Cotton On Mega outlet.

According to Savills Australia, who negotiated the lease, the brand was attracted to the site by the rapid transit which will connect Surfers Paradise to Southport and Broadbeach, as well as a dropping dollar which is predicted to increase tourist numbers.

Savills Australia retail director Michael Di Carlo says the rental price was not disclosed however it is believed to be $700 per square metre over the whole building.

He believes it is expected to deliver in excess of a 10 per cent return to the lessor, a Melbourne-based investor, who purchased the vacant property in 2012.

Savills Gold Coast associate director Avian Weber says the 2018 Gold Coast Commonwealth Games, Cavill Mall upgrade and new foreshore, proposed Southport China Town, university expansions, the Gold Coast University Hospital and NBN network access also attracted Cotton On to the site.

He expects the confidence shown by the national fashion brand to have positive flow on affects to the Gold Coast retail market.


Latest News

CSIRO HELPS DEVELOP AUSTRALIAN PHARMA COMPANY FROM $10 MILLION TO $305 MILLION

GOVERNMENT backed scientists have helped multiply the market value of a previously small Australian pharmaceutical...

FROM SECOND HAND MOTORCYCLE DEALER TO LEADER OF THE PACK

MOTORCYCLE Holdings (ASX: MTO) founder and managing director David Ahmet (pictured) says he often gets asked wheth...

HOW TO PROTECT YOUR BUSINESS FROM RANSOMWARE

BUSINESS owners are being warned to prepare and protect themselves from the type of ransomware attacks which hit A...

NUFARM SHARES SURGE TO FIVE YEAR HIGH ON BIG TURNAROUND

After a heavy loss in 2015 because of major restructuring, crop protection company Nufarm (ASX: NUF) has swung to ...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter