03 December 2015

Media Release

Zara Home has officially opened its first Sydney CBD flagship store today at Glasshouse in Sydney, just in time for Christmas. Located near the King Street end of the Pitt Street Mall, Zara Home offers a wide range of stylish homewares based on the latest international fashion trends.

The new homewares emporium occupies 500 square metres across two floors of open plan retail space with a third floor dedicated to back of house storage.The opening of Zara Home is the second major retail coup this year for Glasshouse coowners, Stockland and Investa Commercial Property Fund (‘ICPF’), following a $30 million redevelopment and the successful opening of H&M in October.

As part of redevelopment, Stockland and Investa worked closely with building contractor Built to ensure the historic facade of the building was retained for years to come. Inside, however, virtually the entire interior of what was an L-shaped pedestrian mall between King Street and Pitt Street was demolished ready for its fashion transformation, from new walls and floors to new escalators and plumbing.

John Schroder continues, “Our redevelopment of Glasshouse was a tailored retail solution to meet the requirements of these international brands – with the result setting this asset apart. Glasshouse has been the sleeping giant of the Pitt Street Mall for many years, there is no bigger or better way to bring it to life than by opening H&M and Zara Home, side by side.”

Stockland and ICPF have a joint-venture agreement as co-owners of 135 King Street and Glasshouse, with a similar arrangement replicated with the listed Investa Office Fund (IOF) at the nearby Piccadilly Centre and Tower, fronting Pitt Street and Castlereagh Street, during FY14.

Stockland and ICPF have capitalised on the strengths of the respective groups through the joint-ownership of the King Street office tower and Glasshouse on Pitt Street Mall, with Stockland taking responsibility for managing and leasing the retail shopping centre, and Investa Office managing and leasing the office tower.

Stockland Group Executive and CEO Commercial Property, John Schroder, said:
“We congratulate Zara Home on its Sydney flagship store opening today and wish
them every success. We expect Zara Home to be highly successful in this key
retail location, appealing to Australia’s love affair with chic, high-fashion interiors,
without the designer price tags.”

For media enquiries

Monique Jones
Media Relations Consultant
Stockland

T +61 (0)2 9035 3435
M +61 (0)4038 995 791

Greg Spears
Senior Manager
Media Relations
Stockland

T +61 (0)2 9035 3263
M +61 (0)406 315 014