Melbourne's Athenaeum Club leases space to Italian fashion brand Fendi on Collins Street

Melbourne's 150-year-old Athenaeum Club has leased 400 sqm of retail space to Italian fashion brand Fendi for its flagship Australian store at its high-end premises at the top of Collins Street.

Fendi has taken a long-term leasing deal at 85 Collins Street (picture above). 

Market chatter suggests the annual rent is between $1.8 million and $2 million.

The new Fendi store will replace Ashley Opal Jewellers and Watches of Switzerland's Rolex boutique.

Fendi, known best for its "baguette" woman's handbags, is part of the Paris-listed luxury LVMH Group which also owns top brands like Louis Vuitton, Christian Dior and Givenchy. 

Valentino and Yves Saint Laurent are understood to be some of the other luxury brands hunting for luxury space at the "Paris End" of Collins Street, the AFR said.

Valentino and Yves Saint Laurent are understood to be some of the other luxury brands hunting for luxury space at the "Paris End" of Collins Street.

A spokeswoman for the club declined to comment, according to The Australian Financial Review. 

CBRE leasing agent Zelman Ainsworth, who was appointed by the club to market the retail space over a year ago, also declined to comment.