It is considered one of the finest retail exposures in Sydney’s exclusive eastern suburbs and it’s not expected to take long for a buyer to put a ring on it.
Colliers International has been engaged to market the high-profile Edgecliff home of Sydney wedding and couture gown designer Lisa Gowing, who has dressed celebrities including actor Deborra-Lee Furness, former Olympian Libby Trickett and television newsreader Georgie Gardner.
About 38,000 cars a day pass the site at 16/220 New South Head Road, on the corner of Ocean Avenue.
The 75-square-metre shop, which is being sold as part of a change to Gowing’s business strategy, is expected to appeal to a range of owner-operators and investors and has come on to the market amid strong demand for quality retail assets, according to Colliers.
Selling agent Matt Pontey said Gowing had turned her focus to wholesaling her couture gowns to boutiques and retailers across the country, including David Jones.
“The exceptional position of the shop has undoubtedly provided this superb label with massive exposure over the years,” Mr Pontey said.
“This retail asset is expected to attract owner-operators who are looking for a prominent location in which to build or grow their brand. Similarly investors are also likely to be attracted by the great location which would suit a range of retail tenants.”
Gowing, whose made-to-order and ready-to-wear gowns are known for their luxurious fabrics and detailing, opened her first showroom at Pymble in 1997 before relocating to Edgecliff to open her flagship store in 2000.
Mr Pontey said the eastern suburbs commercial market was tightly held and opportunities were limited.
“The prominent position of this asset, with its proximity to the Edgecliff Centre, public transport and recent residential developments including The Thane and Golden Age’s Essence Development, make this a highly attractive offering,” he said.
The property will be sold at auction on May 26, 2016.