Antique dealer and one of Australia’s oldest family businesses, McPhees, is moving from Chapel St in Prahran, ending 93 continuous years of trading at the location.

The business, which will continue trading in another yet to be divulged location, was established by George McPhee in 1901 around the corner on High Street, before moving to the present space.

Duncan McPhee, who now runs the business with his brother Sean, the fourth generation of McPhees to be involved in the businesses, said they are looking forward to a new era for the business.

“Much has changed in Chapel Street over the last 100 years,” McPhee said. “It has become a destination for cafes, restaurants, bars, and other entertainment venues, and now the family is seeking a more appropriate address, an address which we hope will be home to the business for many more years to come.”

McPhees stocks high quality early furniture in the English taste of the eighteenth century, through to the Regency period and continuing into the reign of George IV.

“This part of Chapel Street has an enviable aura and reputation driven by its eclectic mix of tenancies from cafes to restaurants to bars and entertainment venues, boutique fashion houses to the Chapel Street Bazaar, The Jam Factory and Prahran Market,” said selling agents Teska Carson’s Matthew Feld and Tom Maule.

In May, Bali-via-Melbourne womenswear label, Mister Zimi, opened its latest boutique at Chapel Street.

According to Knight Frank research, rents in Chapel Street, South Yarra still achieves the highest achieving rental levels between $800 and $1,500 per square metre per annum, however the above average levels of vacancy has placed downward pressure on rents across all the monitored strips.

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