National tenants to do battle for CBD's legendary Coles Variety Store site

The Portmans site on the corner of Charles and Brisbane streets has been listed for lease from July, which may catapult a new national brand into the Launceston mall.

Leasing agent Ian Singline, of Shepherd and Heap, said the mall remained a very attractive proposition for big-name brands.

"The mall is the prime retailing centre in the CBD and generally keenly sought after - particularly by the national players," Mr Singline said.

"There's still quite a good appetite - years ago there may have been more, particularly in the clothing game - but we've seen new players come in."

A mainstay of the Brisbane Street mall, Portmans has been operating from its corner site since at least the mid-2000s.

However, Launcestonians aged 40 or older will fondly remember the site as the centrepiece of one of the city's most-loved retail outlets - Coles Variety Store.

Opening in 1933, the department store sold a wide range of merchandise and used the building's entire top floor as a cafeteria.

It sold for $3.21 million in 1988 and was split into seven smaller tenancies - one with frontage onto Charles Street (now Red Herring) and the remainder facing the mall.

It is understood the corner site was leased to Qantas before becoming a Portmans store.

Mr Singline said while he had been instructed to offer a new lease on the premises, it remained possible that Portmans could extend its stay at the site.

In the meantime, other suitors are showing keen interest.

"There was some promising enquiry last week and we will pick up momentum I think in the next month on that one as those nationals plan for the new financial year," Mr Singline said.

"We'll see them emerge with a bit more momentum."

Portmans owners The Just Group have been contacted for comment.