Owner lists landmark Myer building for lease

First time offered for lease in 60-plus years, the Iconic Myer Launceston Building. Picture: Supplied

Is there a major change coming to Launceston’s Myer Building?

For the retailer, it is business as usual. For the owner of the property, options for the future are being assessed.

Colliers and Elders Commercial have listed leasing opportunities at No.108-118 Brisbane St, spanning up to 3238sq m of space.

The building has been privately owned by the same family since the 1980s.

Myer has occupied the site since the mid-1960s.

A Myer spokesperson said: “Our store in Launceston is operating as normal with our lease running through into 2027. We’re in negotiations with the landlord and those discussions are continuing.”

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First time offered in 60-plus years, the Iconic Myer Launceston Building. Pictures: Supplied

Agents described the property as a landmark retail building in the heart of Launceston’s CBD that is “entering a new phase”.

Colliers associate director of retail leasing, Jake Beckwith, said the building has played an important role in Launceston’s commercial history for generations.

“The owners have held this asset for more than 40 years, and throughout that time it has continued to adapt alongside the city,” Mr Beckwith said.

“The current leasing opportunity allows new retailers to be part of that story as the mall modernises and repositions for the future.”

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Brisbane Street Mall remains the focal point of that activity. Pictures: Supplied

The building is widely recognised for its contribution to Launceston’s modern retail history, forming part of the broader post-war development of the Brisbane Street Mall precinct.

While steeped in heritage, Elders Commercial agent Fletcher Seymour said the asset is now being considered through a contemporary lens, with scope for revitalisation and realignment to meet the needs of modern retailers and customers.

“Launceston is firmly established as the retail and service hub for northern Tasmania, and Brisbane Street Mall remains the focal point of that activity,” Mr Seymour said.

“We’re seeing more national and specialty retailers actively target Launceston, and the decision by Mecca to open its first store in the city within the mall is a strong signal of that shift, reinforcing the mall’s role as the city’s primary retail destination.”

Brisbane Street Mall remains the focal point of that activity. Pictures: Supplied

The Myer building is directly adjacent to the $15m Birchalls redevelopment, which will introduce 21 new inner-city apartments and a mix of food, beverage, and specialty retail tenancies.

The Myer Building is set to benefit from the foot traffic generated by the mall’s latest addition, Mecca, which will soon open its first northern Tasmanian store.

The agents said Tasmania’s retail market has demonstrated resilience in recent years, supported by stable local spending, tourism and limited new CBD retail supply.

In Launceston, this has translated into increased interest in well-located, established buildings that can offer scale, flexibility and strong pedestrian exposure.

Mr Beckwith said retailers are becoming more selective about where they locate, and assets like the Myer building benefit from an irreplaceable CBD position and an existing customer base.

“As the precinct continues to modernise, these leasing opportunities are well aligned with where the market is heading,” he said.