Justin Hemmes declares: ‘Oxford St is back!’’

Pub baron Justin Hemmes invested in Oxford Street as it struggled because he knew it would always ‘come good’. See what he’s planning next.

Oxford Street’s fortunes wax and wane. Right now, it’s on an upswing.

An investment in the strip by councils, new hospitality venues, retail stores and boutique accommodation has helped changed the street’s fortunes.

What was known as a place to shop has become a place to dine, with new venues opening in recent years. These include Italian wine bar Paski Vineria Popolare and natural wine bar Busby’s at the bottom end.

The middle of the strip is home to P&V natural wine bar, topped by French bistro Porcine, and the top end is home to award-winning seafood restaurant Saint Peter and fine diner Fred’s. Hatted chef Peter Conistis is also planning a new venue.

The shift from retail to restaurants has been part of the strip’s resurgence.

Justin Hemmes was one of the first to invest in the area in 2015 when he overhauled The Paddington. He credits Woollahra Council with making it happen.

“When Oxford Street was booming with fashion retail in the ’90s, there was a prohibition of new hospitality venues. You couldn’t convert a retail shop into hospitality,” he says.

“We lobbied for change. As rents got higher, shops closed, it lost its charm and the street was empty. Council were very supportive of a hospitality-led recovery.”

Justin Hemmes. Picture: Mick Bruzzese

Woollahra Council has continued its support of hospitality on the street.

“We are proud to do our part in enhancing the vibrancy of Oxford Street including by supporting outdoor dining. We’ve waived all council fees for businesses taking part in the Parklet Program, which allows an area of kerbside parking to be used as dining, and we continue to issue permits where appropriate, for outdoor dining on footpaths,” says mayor Richard Shields.

HEMMES A TRUE BELIEVER IN OXFORD ST

Hemmes always believed Oxford Street would “come good”.

Over the years, he added fine diner Fred’s and cocktail bar Charlie Parker’s, and will open Jimmy’s Falafel later this year, promising “there’s more in the pipeline”.

“It’s been a decade of recovery for Oxford Street. When we opened Fred’s, there were over 50 commercial vacancies – they’re few and far between now. There’s a great vibe out there now, there are activations on the street and people on the footpath,” Hemmes says.

“People create excitement. I think it was about giving the street back to the community. The activation and momentum attracts more operators. Theo did it with fashion, we did it with the restaurant and the bars.

“Sometimes things need a little kickstart and once they get momentum, that’s when the magic happens.”

The Theo he’s referring to is Theo Onisforou, the brains behind The Intersection.

The Oxford Street/Glenmore Rd precinct has been a longstanding hub of Australian fashion because Onisforou owns all the properties and curates his tenants.

“It’s never been better for us, we’ve just leased one of our stores for a year ahead,” Onisforou says.

“In fashion, you can be a star one year and five years later, when your lease has expired, your star could have faded. We try to be at the forefront of fashion and pick labels that we think are coming up.”

Nadia Jones’ fashion label Nique has benefited from increased foot traffic on Oxford Street. Picture: Renee Nowytarger

Retail has gone through a lot of upheaval in recent years, but Onisforou points to research backing the new model – bricks and clicks, an online presence with one flagship store.

The Ayden Australia 2022 Retail Report reveals 73 per cent of respondents prefer to shop in a brick-and-mortar store, with 67 per cent saying they see the store as a “touchpoint”.

While they may purchase online later, they appreciate the physical presence.

“We have a lot of people that are looking for one store and the analysis is leading to the resurgence of Oxford Street,” Onisforou says.

“I’ve never been more confident in The Intersection. Online has changed retail forever, but it’s not enough to be online, brands also want a retail venue.”

Nadia Jones agrees. Her fashion label, Nique, isn’t far from The Intersection so she gets the overflow of shoppers. Since opening her flagship store in November 2021, the brand has had 11 per cent year on year growth on foot traffic.

“Opening on Oxford Street is great from a positioning point of view and brand discovery,” Jones says.

“I’d say 50 per cent of customers know us and 50 per cent are discovering us, which is exciting. I put that down to location. Someone could be going to pilates, having a facial or going out for a drink and they’ll pop in.

“It’s very exciting to feel the energy coming back to Oxford Street. I think people enjoy strip shopping in fresh air and Covid helped. It’s not just retail, retail, retail, you have art galleries, beautiful cafes … and that gives you a much more enriched shopping experience.”

One of Nique’s neighbours is Oxford House, which Jones says “makes the area feel buzzy”.

The boutique hotel opened in late 2022.

Joanne Sproule, Public Hospitality’s chief of staff and head of hotels, says the hotel has been so successful that Public Hospitality will add an extra 20 rooms on top of the adjoining building, the former Rose, Shamrock and Thistle pub.

Sproule says the lifestyle hotel space is growing because guests don’t just want a bed, they want to experience a neighbourhood.

Joanne Sproule.

“People who seek this style of accommodation value proximity. You can walk to the CBD and Allianz Stadium, there’s a bus to the beach, and the offering inside the hotel includes highly curated music programs, art and strong food and beverage concepts,” she says.

The bottom end of Oxford Street will also become home to Sydney’s first 25hours Hotel, set to open in December or January.

A spokesperson says the heritage-listed site of the former West Olympia Theatre is perfect because 25hours is a neighbourhood brand that seeks out lively micro locations with local heritage.

‘THE STARS ARE ALIGNING’

Oxford Street comes under the jurisdiction of two councils, City of Sydney and Woollahra, both of which have invested in the area.

A CoS spokesperson says: “On a spring day in 2023, the City undertook a video count that recorded more than 20,000 people walking on Oxford Street between College and Brisbane streets. While not at the levels observed before the pandemic, the number of people walking is trending upwards, which is positive news for the area.”

CoS lord mayor Clover Moore believes “the stars are really aligning to see the famous strip reach its full potential”.

Council has approved redevelopment to its properties, introduced planning controls to encourage investment and provided seed funding for the new LGBTIQA+ pride museum.

“The City’s long-term vision is for a greener Oxford Street with slowed traffic, improved pedestrian activity and cycling, more and better public spaces,” Moore says.

“We want the strip to be a celebration of LGBTIQA+ culture and community, a destination and workplace for culture and creatives, with more businesses and local services in the street’s heritage buildings.”

Gil Beckwith. Picture: Jaimi Joy

Oxford Street is the spiritual home of the LGBTIQA+ community.

Mardi Gras chief executive Gil Beckwith says that what started as a group of underground gay bars has evolved into a thriving cultural and social hub.

“Having a space like Oxford Street is crucial for LGBTIQA+ people. It’s more than just a geographical location; it’s a symbol of our journey and achievements. It’s our spiritual home, soul and heartbeat. It’s a place where we can express ourselves freely, find support, and connect with others who share their stories, and struggles,” she says.

“Such spaces are vital for fostering a sense of belonging and community, especially for those who may feel lonely and isolated.

“Oxford Street represents a safe haven where our identity and culture are celebrated, a crucial aspect for the wellbeing and growth of any community.”

Originally published as Justin Hemmes declares: ‘Oxford St is back!’’