Owned by sisters Sandra Robinson and Judy Smith, the Arthur St shop was described as "the shop in a house," and sold vintage, contemporary and oriental gifts, furniture, linen and decorative accessories.
Mrs Smith said they were closing the shop because the time was right to explore new projects.
"There have been so many [highlights, but] we've just lost our passion for it.
"It was just insane, painting furniture at the weekends and at nights.
"It was just so busy we just couldn't keep it going at that pace and we felt like a change."
Mrs Robinson said the duo would miss their "lovely customers".
"Some days were just hilarious. It's been one of the best times in our lives.
"We will miss all our lovely customers, all the interesting conversations and all the wonderful people we've met."
The shop got its name from the sisters' grandmother, Elizabeth Russell, Mrs Robinson said.
"She was a very important person in our lives so we though we would name it after her."
The Dunedin-born and bred sisters would not comment on their upcoming projects but said they were looking forward to reconnecting with their artistic sides.
