Luxury retailers Missoni and Brunello Cucinelli have set a hectic pace in snaring prime leases in the Dexus-owned 25 Martin Place as the city comes back to life with workers and the influx of new residents.

Known previously as the MLC Centre, 25 Martin Place will be home to exclusive labels, including Valentino, as part of the centre’s $170 million transformation.

Upmarket retail has defied the global pandemic and stores across the city are have continued to open or sign leases over the past two years as consumer confidence improves, as evidenced by the latest ANZ-Roy Morgan Consumer Confidence Index, which rose by 1.3 per cent to 94.6 in the past week.

Stewart Hutcheon, Dexus’ executive general manager, industrial, retail and healthcare, said the group was excited that Missoni and Brunello Cucinelli have chosen to launch their flagship operations at 25 Martin Place in the Castlereagh Street luxe retail precinct.

“These premium and contemporary retail experiences will transform the boulevard of Castlereagh Street into a modern runway of luxury retail in Sydney’s CBD, with each luxury brand meticulously selected to curate a premium global shopping experience,” he said.

Dexus, the ASX-listed diversified property owner and manager with a market value of $11.63 billion, changed the name of the MLC Centre in Sydney’s city last year to 25 Martin Place to reflect the next phase for the long-standing tower.

It also sits close to the new Metro station and a swathe of new luxury apartment towers which will swell the number of people living in the city.

At the base of the Harry Seidler-designed 67-storey office tower, the retail destination will deliver around 6000 square metres of retail across four levels, with over 50 diverse retail, dining and cultural experiences.

The flagship stores are under licence from the family-owned Graaf Group, a property acquisition, development and management company that continues to expand its portfolio of luxury fashion retail, prestige property and high-end hospitality venues.