Collins Arcade Returns to the Heart of Melbourne
Melbourne’s CBD just scored a major win, with the freshly redeveloped Collins Arcade officially reopening and welcoming visitors once again. The precinct at 260 Collins Street is now open and active after a huge fifty million dollar transformation that has turned it into a modern destination for fashion, food, wellness, beauty and work. It is exactly the kind of comeback the city has been waiting for.
Driven by Kaipara Property Group in collaboration with UBS Asset Management’s Global Real Assets team, the entire repositioning project was delivered on time and on budget. A strong leasing campaign led by Zelman Ainsworth of Ainsworth Property has pushed the centre to over ninety percent committed before opening, which says everything about market confidence right now.
One of the most welcome changes is the return of the internal pedestrian link between Collins Street and Little Collins Street. It was temporarily closed during redevelopment but is now back open and creates a much easier walk-through between Flinders Street Station and Bourke Street Mall. For anyone working or shopping in the city, that is a massive convenience upgrade.
The new Collins Arcade brings together a mix of long-term favourites, international brands and new operators rolling out over the coming weeks. Here is a full look at what has opened.
Lower Ground / Mezzanine
Kingpin, offering a bar, grill, sports activities and entertainment.
Ground Floor
Birkenstock, Swatch, TAG Heuer, Kathmandu, 2XU, MJ Bale, Tommy Hilfiger, SABA, Mimco, Trenery, Politix, Le Yeahllow and Attakai.
Level 1
Priceline Pharmacy, D&Y Hair, Dorevitch Pathology, Piercing Hub, Time for Beauty, Yuki House and Xtra Clubs with wellness services including sauna, ice baths and steam rooms.
Level 2
Waterman Workspaces and Active Nation 24/7 gym.
Global design practice Buchan led the redesign, giving the entire precinct a more authentic Melbourne identity. The aim was simple. Create a place that feels inviting, walkable and connected to the iconic spine between Flinders Street Station and Bourke Street Mall.
The timing of this launch lines up perfectly with several major CBD developments arriving later this year, including the new Town Hall Metro Station, the upcoming Mecca superstore and new openings from Holiday Inn and Indigo Hotels. Melbourne’s retail activity is accelerating quickly, with vacancy rates dropping from 14.9 percent to 6.9 percent in a year and entertainment spending soaring sixty percent above pre-pandemic levels.
Toby Daniel, Joint Managing Director of Kaipara, said, “We are proud to announce the opening of Collins Arcade, reclaiming 260 Collins Street as a fresh lifestyle destination for work and leisure. We are honoured to play a pivotal role in reinvigorating the Melbourne CBD as foot traffic returns to pre-pandemic levels. We are looking forward to also welcoming additional tenants in the coming months as they reach completion.”
John Mowat, Head of Real Estate APAC of UBS AM GRA, added, “The repositioning of Collins Arcade reflects our conviction in the future of Melbourne’s CBD. The strong leasing success ahead of opening demonstrates confidence from leading retailers and highlights the precinct’s role in the resurgence of Melbourne’s CBD.”
The message is clear. Melbourne’s CBD is roaring back, and Collins Arcade has positioned itself as one of the new anchors of that revival.