The Strand Melbourne to undergo transformation
The retail revitalisation of Melbourne’s CBD continues with the The Strand Melbourne, owned by ISPT, to undergo a $20 million refurbishment into a premium retail destination in the heart of the city.
Acquired by the leading property fund manager in December 2006, The Strand Melbourne neighbours ISPT’s iconic GPO on Elizabeth Street and The Emporium Melbourne retail development due for completion late 2013 on Little Bourke Street.
Studio 505, the team behind the remarkable Wintergarden art facade in Brisbane’s Queen Street Mall, has been engaged to create a striking new facade for the property featuring colourful fins of glass set to make a bold and unique impression on Melbourne’s CBD streetscape.
The new interior of The Strand Melbourne has been designed by The Buchan Group, and will provide a contemporary and elegant shopping experience.
Cameron Gregson, Retail Portfolio Manager, ISPT, said the redevelopment of The Strand Melbourne would create a uniquely Melbourne retail destination.
“The refurbishment will see The Strand Melbourne take its rightful place among the city’s most iconic laneways and arcades – offering an exciting mix of fashion and lifestyle retailers,” Mr Gregson said.
“It’s one of the most well-connected and high exposure retail sites in the city and we have exciting plans to evolve it into an intimate retail haven for Melbourne shoppers,” he added. The redeveloped of The Strand will comprise 2,300m2 of specialty space all located on the ground floor, including premium retail tenancies along Elizabeth Street. A new Australia Post superstore will open on the corner of Lonsdale and Elizabeth Streets, with a 24-hour zone including vending machines, parcel lockers and access to self-service parcels and postage payment at any time of day.
Visitors to The Strand Melbourne will also have access to two levels of on-site car parking to meet the demands of its prominent location and surrounds, while a vibrant fashion precinct in the adjoining Driver Lane will add to the quintessential Melbourne shopping experience and connect the arcade to sibling retail mecca – GPO.
The Strand was originally built in 1976 and during its time has had a range of different businesses and retailers inhabit the space. The two-level public car park above the arcade will remain open during the period of development works.