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queriver
·Rolex just purchased an office building in Melbourne, Australia.
The building is not even located on the same street that most the other international luxury goods brands are. I assume they bought this for a "flagship" retail store and a RSC above. It's an expensive way to get a retail presence but obviously they have very deep pockets.
Article from this morning's "The Australian" newspaper:
"Upmarket watch brand Rolex is buying the Victorian Liberal Party’s long-time headquarters in Exhibition Street in Melbourne’s central business district for $37.1 million. The sale to the watchmaker was confirmed when the company put a caveat on the site after more than three days of silence from the Swiss group, which did not answer questions from The Australian. Proceeds will help refill the party’s coffers after it funded the recent failed election campaign to unseat Victoria’s Andrews government. The party sold 104 Exhibition Street, on the corner of Little Collins Street, at a sales rate of about $16,100 per square metre on net lettable area. After 30 years occupying the space, the Liberal Party will now vacate the premises at the end of next year."
The building is not even located on the same street that most the other international luxury goods brands are. I assume they bought this for a "flagship" retail store and a RSC above. It's an expensive way to get a retail presence but obviously they have very deep pockets.
Article from this morning's "The Australian" newspaper:
"Upmarket watch brand Rolex is buying the Victorian Liberal Party’s long-time headquarters in Exhibition Street in Melbourne’s central business district for $37.1 million. The sale to the watchmaker was confirmed when the company put a caveat on the site after more than three days of silence from the Swiss group, which did not answer questions from The Australian. Proceeds will help refill the party’s coffers after it funded the recent failed election campaign to unseat Victoria’s Andrews government. The party sold 104 Exhibition Street, on the corner of Little Collins Street, at a sales rate of about $16,100 per square metre on net lettable area. After 30 years occupying the space, the Liberal Party will now vacate the premises at the end of next year."
