High street shopping is having a comeback, which presents unique commercial property investment opportunities.
Meet Stephanie Onisoforou, whose family owns The Intersection in Sydney’s Paddington, one of the best shopping destinations in the city.
The Intersection is an Australian-brand only fashion precinct where the best of Australian fashion is showcased and on sale to purchase.
The Intersection started years ago when Stephanie’s father Theo identified the changing makeup of the iconic Oxford Street retail precinct, and felt the need for a location for all the best Australian brands to be housed together.
Acquisition process
With so many individual lots making up The Intersection, the acquisition strategy was key to ensure a fair price, and a good return.
Once it becomes common knowledge there’s an owner acquiring multiple sites, other owners looking to sell commonly increase prices. So, initially multiple lots were purchased in quick succession, and since then opportunistic purchases have been more common.
Tenant selection
Stephanie says that tenant selection is the key to the success of The Intersection. While the goal is to showcase Australian brands, it’s also important to have a wide range of retailers with different offerings, so there’s no one brand directly competing with another.
