Myriad options at prime Bridge Rd retail showroom

The showroom at 524 Bridge Rd in Richmond was previously home to Mountain Designs.
The showroom at 524 Bridge Rd in Richmond was previously home to Mountain Designs.

A Richmond showroom that was home to some of the world’s best-known outdoor brands for more than 15 years is on the market, giving investors or owner-occupiers the chance to put their own spin on the prime space.

The large retail premises at 524 Bridge Rd was previously occupied by Mountain Designs and Kathmandu but is being sold with vacant possession, with agents saying the building is ripe for repositioning as more than just a standard shop.

Spanning 887sqm of floorspace across a 517sqm block of land, the two-level building has 17m of frontage to Bridge Rd and sits among major retailers including Dan Murphy’s, Harvey Norman, IGA and Adairs.

Commercial Insights: Subscribe to receive the latest news and updates

Price expectations are around $5.5 million.

The inner-city property sits along Richmond’s popular Bridge Rd precinct.

While it could easily continue life as retail outlet, Allard Shelton’s Joseph Walton says the property’s potential is boundless, given its favourable Commercial 1 zoning.

“It’s been used exclusively as a showroom throughout the course of its 15-odd-year lifespan. It’s found a place in the market now where, given the favourable land allotment that it sits on, there is also a broader opportunity to explore repurposing the existing building for uses above and beyond just a straight showroom,” Walton says.

“We feel that it caters to more markets than one might immediately conceive.”

The shop’s large mezzanine level.

Walton says the property could remain in use as a retail store, become a combination of retail and office, or have significant potential as a redevelopment opportunity.

“Above and beyond that the property, given that it sits on a 517sqm land allotment, also offers great opportunity for further development as well, given where its located in Richmond,” he says.

“It’s not your typical retail-type offering. This property does offer a quality accommodation, given its existing improvements, for office and retail-type uses.”

The shop has a retail floor area of more than 850sqm.

The property is in a part of Bridge Rd that continues to be popular among major retailers, Walton says.

“It’s only had two occupants since it was built. The first was Kathmandu, who were there for a period of seven years, and then Mountain Designs. So it’s had a great tenancy history. Kathmandu are still in the location, positioned directly opposite, so that speaks to the quality of the location.”

Walton says the property has already “struck a chord”, with both investors and owner-occupiers showing early interest, and income estimates for any future lease are in the order of $250,000 per annum.

The Richmond property is for sale through expressions of interest, which close Thursday, March 28 at 2pm.