NAB takes up former Cartier retail space on Exhibition Street at $1,550 per square metre

National Australia Bank will lease the former Cartier shop on Exhibition Street in the Melbourne CBD, relocating from a more expensive location at the Paris-end of Collins Street.

The bank will pay $1550 a square metre net for the new premises at 100 Exhibition Street having previously occupied premises at 71 Collins Street.

The new 10-year lease was negotiated by Savills’ director of retail leasing Michael Di Carlo alongside colleague, Jeremy Marmur.

The shop became available after luxury watch retailer Cartier relocated to a bigger and better-located store at 101 Collins Street.

Di Carlo said NAB had required a more modern fit-out which offered superior customer access and exposure.

The lessor was a private investor.