Exclusive insight into Westfield development

 

Fashion designers taking part in a collaborative retail concept at Westfield Sydney CBD look set to pay a minimum of $800 a week for a shared space.

Ragtrader can exclusively reveal the rental rates and tenancy requirements for 100 Squared, a pop-up venture launching at the new Westfield development on October 28.

Initial licensing agreements reveal the open plan space, pioneered by Fringe Bar markets organiser and public relations guru Justin Levy, will be positioned within the urban basement section of the $1.2 billion shopping complex.

Up to 12 new generation brands will occupy sections of the retail floor, with tenancy periods of up to six months.

Initial agreement papers reveal designers who select a one-month selling opportunity will pay $1000 a week, while three month tenancies are priced at $900 a week and six months at $800 per week.

The pricing does not include GST, with vendors responsible for all sales transactions, employees and stock supply. Essential fittings such as tables and racks will be included in the cost structure however, and no additional commissions will be taken on sales.   

Vendors must comply with a series of presentation standards set by the operator, including lighting and signage requirements as well as merchandising and display unit guidelines.

A dedicated website will be launched to inform consumers of new installations and special offers, while six weeks of the year will be dedicated to transforming 100 Squared into an art exhibition and event space. It is understood commercial trading will take place for 46 weeks of the year.

Levy said final designers were still being locked in, with full details to be released early next month.

Assia Benmedjdoub