International retailers Forever 21 and Top Shop are in the final stages to abandon their Queen Street Mall and Elizabeth Street leases in the heart of Brisbane’s CBD after the forecast strength in retail did not meet expectations.
Westpac is understood to be close to striking a deal on part of the prime mall fronting space that Forever 21 is giving up.
Forever 21 opened what was its first flagship store in Australia in 2014, taking about 1900 square metres of space over two floors within the then SilverNeedle Hospitality owned NEXT hotel which fronts the mall. Financial services and fund manager Challenger took over the ownership of the property but is now trying to negotiate a lease with Westpac to take about half of the For…
Read the full article at: http://www.afr.com/real-estate/topshop-forever21-exiting-brisbane-westpac-looks-to-replace-20171031-gzcavk
