Cavalier Camberwell: Burke Rd building home to menswear business sells for first time since ‘70s
The home of Burke Rd Camberwell’s longest-running business, which famously dressed Bert Newton in his heyday, has sold for $4.39m.
Menswear retailer Cavalier’s building at No. 632 was snapped up by a local Boroondara investor who had been looking for a Camberwell property to invest in for several years.
It’s the first time the site has changed hands since 1977.
Established in 1955, Cavalier is the longest-running business on the well-known leafy east shopping strip.
The retailer had a presence in living rooms across Australia through Newton’s outfits in the glory days of the silver screen on The Graham Kennedy Show, The Don Lane Show, New Faces and Celebrity Squares.
Cavalier has signed a new 5+5 lease.
The two-level 234sq m building is next to Mecca Cosmetica and surrounded by leading retailers including Telstra, Smiggle, Sheridan, Decjuba and Laurent.
Fitzroys’ David Bourke and Chris James handled the sale, with Mr Bourke noting the commercial property market had been “remarkably adaptable during Covid”.
“Well-located bricks and mortar assets with quality lease covenants offer secure income-producing investments, which have become more highly sought-after in the Covid period and ultra-low interest rate investment,” he said.
Fitzroys also recently sold the building housing Mecca at No. 634 next door for $6m — $1.4m beyond reserve — at another virtual auction.
That followed sales of the Witchery store at No. 580 for $6.788m ($1m above reserve) and No. 751-753, home to Mountford Shoes on a long-term lease, for $7.55m.
Mr James said neighbourhood strips had been the place for Melburnians to reconnect with their local communities and Burke Rd had been “ideally placed to weather the Covid period”.
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