Place Estate Agents have quickly snapped up David Jones boutique store on James St and will move in later this year

Just a day after Brisbane shoppers were left shocked by the announcement the Fortitude Valley David Jones store is to close, a new tenant has already been found. But it will be targeting a very different type of customer.

A RESIDENTIAL real estate agency has secured a prime property for its head office in one of Brisbane’s best known high streets that is home to David Jones’ first boutique store in Queensland.

David Jones yesterday said after three years it will close store at 10 James St store in June.

Place Estate Agents has the lease for the 1400sq m two level property in Fortitude Valley’s renown retail strip and promise to create an “inspiring space”.

David Jones will close its James Street boutique store in June saying the closure is in line with its “retail network strategy”

Doors open for the first day of trading at the brand new Calile Hotel on James Street

The Calile hotel on James St will welcome some of Australia’s best known fashion brands when it opens in Spring

Place chief executive Damian Hackett said it was an exciting opportunity to lease such a “high-profile and highly-visible” location.

“We’re in the business of helping people market their homes. We connect buyers, sellers, tenants and landlords; our presence on James St will further allow us to grow these connections and provide greater assistance within the community,” he said.

An artist's impression of Place Estate Agents new head office at 10 James St, Fortitude Valley.

Place will relocate its head office, currently on Lytton Rd, East Brisbane, and its New Farm office on Brunswick St to the James St property later this year.

Mr Hackett said Place was in the market to purchase a commercial property for some time.

However, he said the opportunity to lease the David Jones site was an “ opportunity we couldn’t pass up”.

He said Place has always been recognised for its unique office fit-outs, including its recent Woolloongabba office, inspired by the1920s prohibition bar.

Mr Hackett said the Place brand has always had synergy with the James St precinct and he looks forward to creating an inspiring space for its people and clients.

Place Estate Agents 1920s prohibition bar inspired Wolloongabba office.

David Jones moved in to the James St property in early 2017 on a ten-year lease.

A DJ’s spokesman said the closure of the company’s first boutique store in Queensland was in line with its “retail network strategy”

“The optimisation of our retail network, through investment in flagship stores, right-sizing and where necessary, consolidation of our footprint, together with our enhanced online offering, is critical to meeting the changing needs and preferences of our customer,” he said.

“We look forward to welcoming Brisbane customers to our QueensPlaza CBD flagship, our new-concept Carindale store and other surrounding David Jones stores, as well as to davidjones.com.”

The spokesman said there will be no job losses.

“All team members offered redeployment to nearby stores including QueensPlaza,” he said.