It hosted Prime Ministers, movie stars and generations of love struck Melburnians as the home for forty years of Australia’s oldest and most fascinating jeweller, Kozminsky.

But now, after sitting idle for more than a year, one of the Melbourne’s most famous stores has a new chapter brewing, with several famous chefs keen to make it the new crown jewel of Melbourne dining.

Several leading international hospitality groups have expressed interest in the iconic three storey Victorian on the corner of McKillop Street, which is being offered for lease with offers to transform the existing three floors to fit a multitude of uses – from a world class dining and bar venue through to a flagship fashion or cosmetics emporium.

The makeover also raises the option to activate the building vast rooftop, which leasing agents Colliers International believe make it one of the most valuable retail assets in the CBD. “The potential for a building like this is all about how creative you can be,” says Colliers International executive Jarrod Herscu.

“We’ve got an opportunity to do something multi-level from a retail perspective, whether its ground floor hospitality and then fashion on the second and third floor.” The building has sat idle since February last year, when Kozminsky closed its doors on a famed jewellery legacy dating back to the gold rush era.

421 Bourke Street was built in 1959 as headquarters for a bluechip stock and station agency and also was home to a leading bank before its transformation to a glittering showcase for the precious wares of the famous Kozminsky dynasty.

Melbourne’s Giannarelli family purchased the iconic building in a hotly contested auction last July, setting a new CBD price benchmark at the time and vowing to spend time seeking the right kind of tenant to respect the building’s magnificent heritage.

“The owners are supportive of whoever the operator is going to be. They want to be very hands on and they want to work with the tenant to create something very unique,” said Mr Herscu. “The opportunity is endless.”

Click here to view the official 421 Bourke Street website.

For further information, phone or email Jarrod Herscu or Brigitte Doupe of Colliers International via the below contact details.

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