Once-in-a-generation Perth luxury retail freehold hits market

One of the most tightly held heritage assets in the Perth CBD has been brought to market for only the second time in nearly 80 years, as investor appetite for premium luxury retail assets continues to strengthen nationally. 

The landmark freehold at 317–319 Murray Street, home to the Western Australian flagship boutique of Swiss watchmaker Omega, is being offered for sale via international expressions of interest through Nick Charlton, Ben Younger, Zaahen Kahn, Trent Weir and Leon Ma of Cushman & Wakefield. 

Positioned within the city’s rapidly evolving luxury retail corridor between William and King Streets, the asset sits among an increasingly concentrated cluster of international fashion and jewellery houses including Louis Vuitton, Cartier, Gucci, Chanel, Dior, Tiffany & Co, Van Cleef & Arpels and Watches of Switzerland. 

The emergence of the precinct as Perth’s premier luxury retail strip has been underpinned by significant private and public investment, growing tourism expenditure and increasing foot traffic following the opening of Edith Cowan University’s city campus nearby. 

Cushman & Wakefield Co-Head of Capital Markets and Investment Sales WA, Nick Charlton, said opportunities of this calibre were exceptionally rare within the Perth market. 
“Murray Street has evolved into one of Australia’s most tightly held luxury retail precincts and assets of this scale and quality are almost never available. 

“What makes this offering particularly compelling is the combination of irreplaceable location, genuine heritage character and the flexibility to further activate and reposition parts of the building over time” he said. 
The building has undergone significant capital upgrades by the current ownership, including the installation of a new passenger lift servicing all levels, upgraded end-of-trip facilities, tenancy refurbishments and modernised services, while retaining key heritage features including pressed-tin ceilings, English cast steel columns and original jarrah detailing. 

Cushman & Wakefield Co-Head of Capital Markets and Investment Sales WA, Ben Younger, said the property presented a unique opportunity to acquire a fully activated mixed-use asset within the centre of Perth’s luxury retail market. 
“The first-floor tenancy is one of the most impressive character office spaces in the Perth CBD, combining exposed brick, steel and jarrah finishes with exceptional natural light. 

“The asset also benefits from genuine flexibility across retail, hospitality and office use, with frontage to both Murray Street and Wolf Lane creating strong long-term activation potential” he said. 
The property occupies a prominent triple-frontage position to Murray Street, Wolf Lane and a substantial 49-metre laneway elevation, further enhancing its exposure and future repositioning opportunities. 

Cushman & Wakefield Associate Director, Zaahen Kahn, said the campaign was expected to attract interest from private capital groups, family offices and offshore investors seeking trophy assets with long-term scarcity value. 
“Freeholds of this nature are incredibly difficult to replicate, particularly within established luxury retail precincts where supply remains permanently constrained. 

“We expect strong interest from investors looking for a generational asset with secure underlying fundamentals and future upside within one of Australia’s fastest-evolving CBD retail markets” he said. 
International Expressions of Interest close at 2.00pm AWST, Friday 3rd July 2026, through Cushman & Wakefield.