[[File:St-collins-lane-level-1-shops.jpg|thumb|260x260px|Ground Floor Shops]]'''260 Collins''' (formerly St Collins Lane) is a CBD [[Shopping mall|shopping centre]] prominently located between Collins Street and Little Collins Street in the heart of Melbourne’s prime retail corridor bordered by La Trobe Street to the North, Swanston Street to the East, Flinders Street to the South and Elizabeth Street to the West.
'''St. Collins Lane''' is a [[Shopping mall|shopping centre]] completed in 2016, designed by [[ARM Architecture (Ashton Raggatt McDougall)|ARM Architecture]], which stretches between [[Collins Street, Melbourne|Collins]] and [[Little Collins Street|Little Collins]] streets in [[Melbourne]], Australia. The centre runs under a budget hotel occupying the upper nine floors.
It leads directly into the Walk Arcade at the northern end, and faces Centreway Arcade across Collins Street at the southern end, forming part of a chain of [[arcade (architecture)|arcades]] and lanes which lead from [[Flinders Street railway station|Flinders Street station]] to [[Melbourne Central Shopping Centre]] through the mid section of all the blocks between [[Elizabeth Street, Melbourne|Elizabeth]] and [[Swanston Street|Swanston]] streets.<ref name="TheAgeEmporium07-11">{{cite news |last1=Hopkins |first1=Philip |title=Retail's confidence builder |url=http://www.theage.com.au/business/property/retails-confidence-builder-20110802-1i9pq.html |access-date=23 August 2017 |work=[[The Age]]|date=3 August 2011 |quote=The overall aim is to improve the connection between Melbourne Central and Flinders Street railway stations through more north-south links such as Degraves Street, Australia on Collins, and the Causeway Arcade.}}</ref>
== History ==
== History ==
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The redeveloped St. Collins Lane opened on 16 May 2016 and was immediately placed on the market by its owners, along with the Melbourne [[Novotel]] hotel.<ref name="TheAustralian opening and sale">{{cite news |last1=Allen |first1=Lisa |last2=Condon |first2=Turi |title=LaSalle puts $500m Melbourne hotel, retail complex on the block |url=http://www.theaustralian.com.au/business/property/lasalle-puts-500m-melbourne-hotel-retail-complex-on-the-block/news-story/33f49e3fe316fae257b901863e13f36c |access-date=3 September 2017 |work=The Weekend Australian |date=27 April 2016}}</ref> The centre had an approximately 70% tenancy rate at opening and was hoped by its owners to rival the recently opened [[Emporium Melbourne]] on [[Lonsdale Street]].<ref name="TheAge March 2016">{{cite news |last1=Johanson |first1=Simon |title=St Collins Lane opens in May, set to rival Emporium |url=http://www.theage.com.au/business/property/st-collins-lane-opens-in-may-set-to-rival-emporium-20160301-gn7bqv.html |access-date=3 September 2017 |work=The Age |date=2 March 2016}}</ref>
The redeveloped St. Collins Lane opened on 16 May 2016 and was immediately placed on the market by its owners, along with the Melbourne [[Novotel]] hotel.<ref name="TheAustralian opening and sale">{{cite news |last1=Allen |first1=Lisa |last2=Condon |first2=Turi |title=LaSalle puts $500m Melbourne hotel, retail complex on the block |url=http://www.theaustralian.com.au/business/property/lasalle-puts-500m-melbourne-hotel-retail-complex-on-the-block/news-story/33f49e3fe316fae257b901863e13f36c |access-date=3 September 2017 |work=The Weekend Australian |date=27 April 2016}}</ref> The centre had an approximately 70% tenancy rate at opening and was hoped by its owners to rival the recently opened [[Emporium Melbourne]] on [[Lonsdale Street]].<ref name="TheAge March 2016">{{cite news |last1=Johanson |first1=Simon |title=St Collins Lane opens in May, set to rival Emporium |url=http://www.theage.com.au/business/property/st-collins-lane-opens-in-may-set-to-rival-emporium-20160301-gn7bqv.html |access-date=3 September 2017 |work=The Age |date=2 March 2016}}</ref>
St. Collins Lane was purchased in November 2016 by [[JPMorgan Asset Management]] for a reported price of $247 million.<ref name="TheAus Nov 2016">{{cite news |last1=Wilmot |first1=Ben |title=JPMorgan buys city precinct |url=http://www.theaustralian.com.au/business/property/jpmorgan-buys-st-collins-lane-in-melbourne/news-story/b7bb49dece1740392cbca0029efaef72 |access-date=3 September 2017 |work=[[The Australian]]|date=14 November 2016}}</ref> In March 2020, JPMorgan was trying to offload the struggling mall for $150 million <ref>{{Cite web|url=https://theurbandeveloper.com/articles/jp-morgan-offloads-st-collins-lane-|title = JP Morgan Offloads St Collins Lane|date = 6 March 2020}}</ref>
St. Collins Lane was purchased in November 2016 by [[JPMorgan Asset Management]] for a reported price of $247 million.<ref name="TheAus Nov 2016">{{cite news |last1=Wilmot |first1=Ben |title=JPMorgan buys city precinct |url=http://www.theaustralian.com.au/business/property/jpmorgan-buys-st-collins-lane-in-melbourne/news-story/b7bb49dece1740392cbca0029efaef72 |access-date=3 September 2017 |work=[[The Australian]]|date=14 November 2016}}</ref>
JP Morgan sold St Collins Lane to Credit Suisse Asset Management for about $122 million in December 2020.
Following UBS’ global bailout of Credit Suisse in March 2023, control of the fund that held the mall transferred to UBS Asset Management, with Kaipara Property Group subsequently installed as the asset and development manager.
The mall has struggled to find tenants. In 2017 it had 45% vacancy.<ref>{{Cite web|url=https://www.afr.com/property/commercial/250m-melbourne-mall-st-collins-lane-battling-high-vacancies-20170628-gx01ug|title = $250m Melbourne mall St Collins Lane battling high vacancies|date = 4 July 2017}}</ref>
The property has an active, value-add reposition strategy through leasing and development initiatives.
The centre has 35<ref name=":0">{{Cite news|url=http://www.stcollinslane.com/directory|title=Directory {{!}} St. Collins Lane Unique Melbourne Shopping Destination|access-date=2018-02-21}}</ref> operating stores and includes clothing, footwear and cosmetics outlets, as well as a food court. Current key tenants include [[Leica Camera|Leica]], Maje, [[Coach New York|Coach]], [[Furla]], [[The Kooples]], [[Zadig & Voltaire]], [[TAG Heuer|Tag Heuer]] and [[Birkenstock]].
UK department store [[Debenhams]] opened as an anchor tenant in October 2017<ref>{{Cite news|url=https://www.insideretail.com.au/blog/2017/10/24/debenhams-kicks-off-at-st-collins-lane/|title=Debenhams kicks off at St Collins Lane |date=2017-10-24|work=[[Inside Retailing]]|access-date=2018-02-21|language=en-US}}</ref> but closed in January 2020. In November 2018, Melbourne's first [[Leica Camera|Leica]] store and gallery opened offering an art gallery, studio and Akademie workshops.<ref>{{Cite news|url=https://stcollinslane.com.au/article/melbournes-first-leica-store-and-gallery-is-almost-here/|title=Melbourne's first Leica Store and Gallery is here {{!}} St. Collins Lane|work=St. Collins Lane|access-date=2018-11-20|language=en-US}}</ref>
The centre has 3 flagship tenants on leases (Swatch, Birkenstock and TAG Heuer).
The centre was greatly affected by the covid lockdowns and is currently closed on 3 levels (LG, 1 and 2) as it prepares to go into redevelopment. The redevelopment of the centre is set to bring a tenancy mix more appropriate for the market and location based upon entertainment, health and everyday shopping.
In November 2018, it was announced that British watchmaker [[Bremont Watch Company|Bremont]] and Paris fashion house [[Claudie Pierlot]] had signed on as new tenants. [[Bremont Watch Company|Bremont]] is set to open in December 2018 while [[Claudie Pierlot]] will open for trading in the first half of 2019.<ref name=":1">{{Cite news|url=https://www.afr.com/real-estate/commercial/leasing/bremont-claudie-pierlot-and-xmas-popups-at-jp-morgans-st-collins-lane-20181112-h17szl|title=Bremont, Claudie Pierlot and Xmas pop-ups at JP Morgan's St Collins Lane|date=2018-11-14|work=[[Australian Financial Review]]|access-date=2018-11-20|language=en-US}}</ref>
Entertainment brand Kingpin has taken a 3500-square metre, 10-year lease for the lower ground and mezzanine levels of the mall that were last occupied by British department store Debenhams before its collapse in 2019.
Four new restaurants, Shujinko, Poke and Sushi Boto, Meat the Challenge and Saint Dreux are set to open in the summer of 2018/19.<ref name=":1" />
On level two – replacing the former food court – Australian coworking and flexible office space provider Waterman Workspaces has leased a 2000-square-metre space for 10 years as its first CBD location.
== Current centre ==
The centre has {{convert|9000|sqm|sqft}} of [[Gross leasable area|lettable floor space]] spread across 55 retail stores and 12 restaurants. {{As of|2018|11}}, approximately 34 retailers were open, and 4 restaurants were operating on the top-floor "dining precinct".<ref name=":0" />
Collin Street Entrance (Christmas 2018)Lower Ground ShopsGround Floor Shops
260 Collins (formerly St Collins Lane) is a CBD shopping centre prominently located between Collins Street and Little Collins Street in the heart of Melbourne’s prime retail corridor bordered by La Trobe Street to the North, Swanston Street to the East, Flinders Street to the South and Elizabeth Street to the West.
History
Starting in the late 1870s, this block of Collins Street was home to the city's most fashionable stores, such as milliners, glove-importers, portrait painters, photographers and hairdressers. Businesses such as George's Emporium, Allan's and Glen's music and Mullens' Bookshop and Lending Library drew the cream of Melbourne society. The act of promenading here became a social pastime, known as ‘doing the block’, and the street became known simply as "The Block", a title taken up by the Block Arcade, built 1890–93.[1] Gunstler's Cafe (at about 280 Collins Street) was established in 1879 and was amongst the most fashionable restaurants in the city. In 1890 it was renamed the Vienna Café, which in 1908 was purchased by Greek Australian restaurateur Antony J. Lucas.[2] During World War I the name of the cafe became controversial, and Lucas responded by expanding and completely rebuilding the interior in 1916, and it reopened as the Cafe Australia, the finest tea-room in the city.[3] Designed by US trained architect Walter Burley Griffin and Marion Mahony Griffin, it was their first completed major work in their adopted country, and featured fountains, sculpture, planting, indirect lighting, and their distinctive intricate geometric detailing. In the late 1930s, the Cafe was demolished and replaced by the Hotel Australia, completed in mid 1939. Designed by Leslie M. Perrott, it was a 12-storey building with 94 rooms, numerous private dining and function rooms, and was the most prestigious hotel in Melbourne in its day.[4] It included an arched-roofed ballroom which was a simplified version of the main Cafe Australia space. The hotel included two small cinemas,[5] a restaurant and bar in the basement, and a through-block shopping arcade on the ground floor which was touted as the largest in Australia, known as the Australia Arcade.[2]
In 1989, the Hotel Australia was demolished to make way for a new development, completed in 1992, the Australia on Collins shopping arcade and four star hotel.[4] The building's architecture, designed by Buchan Laid & Bawden (now the Buchan Group) was variously described as postmodern and imitating art deco style,[6] and the shopping levels were ramped up and down from the street entrances in order to maximise the number of shops, and which resulted in a confusing layout. In later years, Australia on Collins was criticised as "a poor man's temple to the great god of commercialism" and included in a list of Melbourne's worst buildings by The Age newspaper.[7] The shopping centre in this period included approximately 100 shops and a food court with space for 750 diners.[8]
In April 2014, then owners LaSalle Investment Management (LIM) announced that the "dysfunctional" centre would be closed for a redevelopment costing$30 million. Architects Ashton Raggat McDougall were engaged to improve the building's "sight lines" and to prevent customers from feeling "trapped", which resulted in the shopping levels being reduced from five levels to four, without the ramping. LIM stated that the redeveloped centre would be made up of larger stores with a focus on international brands.[8]
The redeveloped St. Collins Lane opened on 16 May 2016 and was immediately placed on the market by its owners, along with the Melbourne Novotel hotel.[9] The centre had an approximately 70% tenancy rate at opening and was hoped by its owners to rival the recently opened Emporium Melbourne on Lonsdale Street.[10]
St. Collins Lane was purchased in November 2016 by JPMorgan Asset Management for a reported price of $247 million.[11]
JP Morgan sold St Collins Lane to Credit Suisse Asset Management for about $122 million in December 2020.
Following UBS’ global bailout of Credit Suisse in March 2023, control of the fund that held the mall transferred to UBS Asset Management, with Kaipara Property Group subsequently installed as the asset and development manager.
The property has an active, value-add reposition strategy through leasing and development initiatives.
Tenants
The centre has 3 flagship tenants on leases (Swatch, Birkenstock and TAG Heuer).
The centre was greatly affected by the covid lockdowns and is currently closed on 3 levels (LG, 1 and 2) as it prepares to go into redevelopment. The redevelopment of the centre is set to bring a tenancy mix more appropriate for the market and location based upon entertainment, health and everyday shopping.
Entertainment brand Kingpin has taken a 3500-square metre, 10-year lease for the lower ground and mezzanine levels of the mall that were last occupied by British department store Debenhams before its collapse in 2019.
On level two – replacing the former food court – Australian coworking and flexible office space provider Waterman Workspaces has leased a 2000-square-metre space for 10 years as its first CBD location.
^ abSpicer, Chrystopher J. "Australia Hotel". www.emelbourne.net.au. School of Historical Studies, Department of History, The University of Melbourne. Retrieved 23 August 2017.
