One of the world’s most prestigious brands, luxury retailer Omega, will open its first flagship Brisbane store in the revamped Edward Street precinct.
The Swiss watch brand has announced plans to open the flagship store at 188 Edward Street in 2018.
Omega has been the watch of choice for the James Bond films since 1995, and Daniel Craig himself is known to be an avid Omega collector.
The brand’s five-year lease of the two-level tenancy (totalling 282 square metres) will commence in October 2018, coinciding with significant upgrades to the building and the $11 million beautification of Edward Street.
The property is currently occupied by Hugo Boss.
Sam Degn, Brisbane CBD retail leasing specialist at Colliers International — who negotiated the lease off market on behalf of the owner, Conias Corporation — said Omega had been looking to enter the Brisbane market for the last 18 months.
“Omega’s significant commitment to this site demonstrates their aggressive global expansion strategy, which is based on sourcing prime locations in luxury CBD precincts,” she said.
“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.”
Ms Degn said Edward Street is developing a reputation as one of Brisbane’s most sought after luxury precincts. She believes the area will continue to attract attention from high-end global brands once its redevelopment is completed.
“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,” she said.
“Brisbane City Council’s plan is to widen footpaths, 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.”
Michael Bate, Head of Retail at Colliers International, expects a number of high-end brands who have established footholds in Sydney and Melbourne to venture north to Brisbane in the near future.
“The luxury retail sector has gained a lot of attention in recent times,” he said.
“There are a number of international luxury brands, who are established in Sydney and Melbourne, who are now turning their attention north and looking to get into the Brisbane market. As more brands enter the Australian market, this luxury retail component in Brisbane will continue to grow.”
Will we find you at the launch of Omega in Brisbane, or is it a little rich for your blood? Let us know in the comments below!