Global diversified professional services and investment management company Colliers has unveiled a rare leasing opportunity on High Street, Armadale – one of Melbourne’s most prestigious shopping precincts.

Colliers’ Retail Leasing team has been appointed to lease four premium retail tenancies at Heirloom, a landmark development designed by award-winning architecture firm Woods Bagot, winner of Best Retail Store in the World 2023 for their Rolex HQ at Melbourne’s Centenary Hall.

Developed jointly by GLG and Urban DC, Heirloom delivers nearly 100 metres of prime street frontage along Victoria’s highest-performing retail strip in a location synonymous with luxury, fashion and lifestyle. The building features bespoke finishes and timeless architectural detailing, reflecting Woods Bagot’s leadership in global retail design.

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Heirloom is the first major retail offering of its scale in Armadale in several years. Just four tenancies ranging from 87sqm to 172sqm are available, providing a very limited opportunity to secure space in a precinct that sees high demand.

With a vacancy rate of just 2.3% – the lowest across all retail strips in Victoria – Armadale continues to outperform the market. More than two-thirds of retail spend in the precinct comes from visitors, mostly shopping at fashion, accessories and boutique department stores, with the area serving as a strategic midpoint between Melbourne CBD and Chadstone.

“Heirloom offers an extraordinary opportunity for retailers to secure a flagship presence in one of Australia’s most prestigious and top-performing retail corridors. Set within a brand-new, premium development, this is a rare chance to be part of a curated retail environment where scale enables true placemaking,” says Tom Larwill, Director of Retail Leasing Victoria at Colliers.

“High Street Armadale is a true retail destination, with strong discretionary spend, consistent foot traffic and a loyal customer base. Heirloom’s scale, design and location make it a standout opportunity for premium brands looking to anchor themselves in a market that rarely sees new supply,” he explains.

According to the City of Stonnington, total spending on High Street surpassed $50 million between October 2024 and March 2025, including over $30 million in retail.

“Heirloom is changing the face of High Street, responding directly to market demand for premium frontage, high visibility, and proximity to established luxury and lifestyle brands, all within a location that blends village charm with enduring prestige,” notes Ruby Koop, Senior Executive Retail Leasing at Colliers.

“Heirloom will transform the eastern end of High Street, bringing fresh energy, architectural excellence, and long-overdue momentum to a historically underutilised stretch. For years, the sheer scale of the frontage has held back activation – but that’s about to change.

“Heirloom unlocks this potential, enhancing the streetscape and setting the stage for long-term vibrancy, commercial success, and a ripple effect that benefits surrounding businesses and the broader community,” she adds.

Architecture News & Editorial Desk

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