Byron a ‘marquee address’ for retailers
FASHION and accessories chain Off Ya Tree has leased premises for its first shop in hipster hot spot Byron Bay.
The store, which says it stocks Australia's most extensive range of punk, rockabilly, kustom kulture and metal clothing, has signed a five-year lease with a five-year option for 125sq m at 91 Jonson St. The tenancy forms half of the front building where one tenancy remains available for lease.
The property formerly hosted the Danny Wills Quiksilver store, which vacated the site in March this year.
The deal was struck at about $1150sq m and Off Ya Tree is expected to open in September or October.
CBRE's Cody Buck, who marketed the property with Kath Vaubell of Byron Bay Property Sales, said there is strong demand for retailers
to establish a presence in Byron Bay.
"A lot of retailers just want to be in Byron," Mr Buck said.
"It is a marquee address."
Mr Buck said opportunities to lease retail premises in the Byron market, which is concentrated on Jonson, Lawson and Fletchers streets, are rare.
The new Off Ya Tree premises are 150m from the new Mercato on Byron shopping centre, which opened in April.
The owner of 91 Jonson St is Alain Teurquetil Pty Ltd, linked to Byron Bay investor Alain Teurquetil, which paid $3.275 million for the building in 2011.
Features of the 506sq m site include a modern building fronting Jonson St and rear cottage off Marvell Lane.
Mr Wills, a contestant in the Quiksilver Pro for more than 10 years, with a best third placing and many top-10 placings, opened a second Danny Wills Quiksilver shop at 2 Jonson St in 2012.