Clemenger is taking 7500 square metres of space, effectively all the available office floors in the David Jones building, which is set to undergo a $22.55 million renovation that will add a rooftop terrace and balconies for office tenants across four upper floors, plus space for a 2245 square metre supermarket in the basement.

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The building, owned by property fund manager Newmark Capital, recently signed beauty retailer MECCA as a flagship tenant in the ground and first floor retail spaces to take over David Jones’ tenancy.

Another top fashion retailer, Rodd & Gunn, will set up a flagship shop at the rear of the building, which backs onto Little Collins Street.

And in a further sign of the city’s rejuvenation, beauty retailer Aesop will move into an 80 square metre store in the Georges building at 162 Collins Street. Aesop took a space next to shoe retailer Christian Louboutin in the distinctive white building in an off-market deal negotiated by Collier’s Jennifer Tai and Adam Lester.

Newmark general manager of property, Angus Machutchison, said the David Jones building was now “90 per cent pre-leased to premium-grade retail and office tenants prior to the refurbishment works commencing.”

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Architects Bates Smart are leading the redesign of the historic 299 Bourke Street building, focusing on its mall-facing heritage front, along with upgrading canopies and adding fresh glazing.

Clemenger’s offices will be accessed by a dedicated lobby at 280 Little Collins Street. Group chairman Robert Morgan said the agency is returning to its “birthplace”.

“It was in the CBD where the company’s founders opened John Clemenger Advertising in 1946, in the basement of a building in Bourke Street,” he said.