Fashion founder bowing out...making room for a new beginning
Tuesday 1 February 2011, 2:20PM
By Bayleys
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A legendary figure in the New Zealand fashion industry and owner of high-profile Newmarket store Saks, Julian Reynolds intends to bow out of the fashion game leaving his prominent premises available for occupation.
Located at 250-254 Broadway in the centre of New Zealand’s leading fashion precinct, the 489 sq m premises are being marketed for sub lease by Bayleys Auckland Central retail specialist Ed Donald.
Julian Reynold opened the store in 1979 and Saks was the first fashion retailer to sell Hugo Boss in the southern hemisphere, as well as introducing New Zealand to other high-end fashion brands including Versace and Brioni.
But after more than 30 years in the industry, Mr Reynolds is ready to bow out and intends on heading up to Whangarei Heads with his wife Raewyn to enjoy his retirement.
Julian credits Sak’s location with helping its popularity grow in the early days, with its central Newmarket position attracting many customers from the surrounding affluent suburbs to view high-end European.
Donald says the shop is on the popular eastern side of Broadway and close to Remuera Road, in the centre of prime retail strip of Newmarket. Part of the lease includes substantial 16metre by 2.5metre signage, which the next business can use to its full advantage.
Internally, it comprises two levels of retail space with a small office area. A 116 square metre ground floor has an internal staircase leading to a 319 square metre mezzanine first floor that was recently refurbished with men and women’s amenity areas, and a series of small rooms. A further internal staircase on the southern side of the building leads to upper floor air-conditioned offices with windows overlooking Broadway.
Reynolds says the property has been refurbished and retrofitted, at approximately five-yearly intervals and underwent a modernisation last year. The current six year lease runs until May 2012, with rights of renewal for two further six-year terms, and a final expiry date for the lease of April 2024.