After 49 years of trading on Anzac Parade, Peter’s of Kensington locked its doors for the final time. The closure, however, is not the end of the business. Peter’s of Kensington confirmed it will continue operating online and in person at its Birkenhead Point store.
Read: Uni Lodge: 601-Room Student Block in Anzac Parade Proposed
The pink building at 57 Anzac Parade has been a fixture of the suburb since the late 1970s, and for generations of Sydneysiders, a trip there was less a shopping errand and more a bit of a ritual. The doors closed for the last time on 31 May 2026. You knew where you were headed the moment the building came into view. That shade of pink was hard to miss.
It started simply enough. Founders Peter Satouris and his wife Christa began by selling travel goods in Haymarket before Mr Satouris opened a small gift shop on the corner of Anzac Parade and Bowral Street in Kensington in 1977. As the business grew, it moved into a permanent store a little further up the road, taking over what had previously been an old cinema. The building was painted pink, and over time, that colour became the brand.
What followed was nearly five decades of steady growth into one of Sydney’s most recognisable retail destinations, stocking everything from KitchenAid mixers and Le Creuset cookware to Wedgwood and Royal Doulton. People came from across the city, and plenty came from much further afield.
In a farewell message shared on social media on the store’s final trading day, the business reflected on what the Kensington location had meant beyond the sales floor. Friendships, careers, marriages, new children, and new generations of families had all been part of its story across those 49 years. Staff were on hand throughout the day to say goodbye to customers who had been coming through those doors for decades.
What comes next for the site?
The closure comes down to bricks and mortar, and what exactly replaces the Big Pink Building remains a live question in the local community. The business noted on its website that after many decades at the site, it was time to be redeveloped, in keeping with broader changes along Anzac Parade.
Locals and community groups have been speculating about what will take its place. A post from the Friends of Victoria Park Facebook page flagged that the Peter’s building and those adjoining it on Anzac Parade are alleged to be earmarked for a housing and retail development.
Commenters on the post pointed to what appeared to be an older modification application suggesting an alleged 175-room boarding house with two levels of retail, though others cautioned that the documentation dated to 2020 and may not reflect the most current plans. No confirmed development application for the Peter’s site has been publicly identified at time of writing.
Some community members commenting online have suggested the Peter’s site will become student accommodation, pointing to the broader designation of the Anzac Parade corridor as a student housing precinct. Those claims remain unverified.
What is clear is the broader context. Randwick City voted unanimously earlier this year to stall future commercial student housing developments along the corridor, citing a lack of housing diversity for families, workers and non-students.
Read: Anzac Parade Site in Kensington Listed for Student Housing Development
Randwick has been pushing back against what it describes as the monopolisation of Anzac Parade by commercial student accommodation providers. More than 5,200 student accommodation rooms have been approved along Anzac Parade between Kensington and Kingsford over the past six years, compared to around 500 residential homes in the same period.
Not the end of the story
For the local community, the closure is still a significant loss regardless of what comes next. The building was not just a shop. It was a landmark, a meeting point, and for many a Kensington resident, simply part of the backdrop of daily life.
The business, for its part, is clearly not ready to draw a line under things. Its parting message carried an unmistakably forward-looking tone, with a promise that something new is coming. Exactly what that looks like has not yet been revealed, but the business has signalled that this chapter closing is not the final word.
For now, shoppers can find Peter’s of Kensington at Birkenhead Point or online at petersofkensington.com.au.
Published 13-June-2026
