High end fashion house pays $1,650,000 to be in the West End rag trade cluster

by admin | 26th November 2010

Project Glamour P/L, a nationwide wholesaler of high end women’s fashion wear, including cocktail dresses, has paid $1,650,000 for a 513m2 freestander at 242 Montague Road, West End. The transaction was conducted by King & Co’s Jane Turnbull, who noted that the purchaser chose this street and suburb in order to obtain the benefits of being near others offering similar products.

Located on 556m2 of SP 12 zoned land, this steel framed metal clad building offers 40m2 of office as part of its total floor area. It also features a new concrete floor and access via a container height roller door

According to Turnbull, the new owner intends to completely gut out the inside of the building then refurbish it, and its facade,  into a spectacular showroom.Ó Fit out is being done by Urban Office

Turnbull says that during the last six months,the West End precinct had only seen a few industrial and commercial sales, mostly by owner/occupiers buying buildings with future refurbishment potential, as per the City Plan. With the market showing an uplift in optimism as of late, more and more owners are holding out for higher prices…and getting them…to the point that this part of the City  is offering office space at heftier prices for space than found in the CBD.

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