Futuro Capital and EQT Exeter have undertaken a major $25 million upgrade, in line with the Melbourne CBD retail landscape, with four retail leases signed in its new development at 235 Bourke Street, Melbourne.
Originating in 1866, Tivoli Theatre was a major performing arts venue located on Bourke Street and was renamed the Tivoli in 1914. Now, 158 years later, the arcade is being repositioned, leveraging its rich history and central location.
235 Bourke St links Bourke Street Mall, Swanston Street and Chinatown to the east-end office precinct. The re-visioning of the site is inclusive of a new internal laneway link between Bourke Street and Rainbow Alley.
The repositioning will comprise 3,500m2 of new retail, including high street retail on Bourke Street, up-market F&B offering, gym and wellness centre and a rooftop bar.
The Ainsworth Property (A-P) Retail Leasing team, Tan Thach, Josh Lufitg, and Zelman Ainsworth, are leasing the retail space for Futuro Capital and EQT Exeter.
The A-P team said: “It’s fantastic to have another Melbourne CBD retail icon receive significant investment and energy. Proactive owners with thoughtful leasing strategies can achieve success in the CBD, no matter what the retail market is doing. Our team is working hard to complete the retail leasing mix in line with the project vision.
“Sydney’s major hospitality group, Ho Jiak, is entering the Melbourne CBD for the first time, leasing 900m2 across three levels, including a rooftop on Rainbow Alley. This is the biggest retail leasing deal in the Melbourne CBD this year.
“Also, Melbourne’s best hidden Thai restaurant, Soi38, has secured a 600m2 restaurant on Royal Lane. Premium Melbourne hairdresser SUI Hair is expanding its business with a third location; Nori Maki also joined the curated retail mix, offering intimate over-the-counter seating for an Omakase-style hand roll crafted by the former Nobu Sushi Chef.”
Futuro Capital acquired the site in 2021. Remastered by Fender Katsalidis and Bates Smart, it mimics the buzz of its surrounding neighbourhood, delivering an unparalleled urban experience.
The project complements the City of Melbourne’s plan to protect, respect and celebrate quality heritage architecture in the CBD.
