Aldi continues its expansion after securing a 1500-square-metre retail space at Mosman’s Bridgepoint Shopping Centre in Sydney’s lower north shore for a new supermarket.
The centre, which has been long dominated by Harris Farm and IGA, will now have new competition.
After years of searching, Aldi secured the level-one space at the 6800-square-metre centre with three food tenancies and 35 specialty stores. The centre is about to get a $10 million refurbishment.
The lease term is 15 years, and while the rent is confidential, retail rents on the first floor are about a gross annual rent of $1000 to $1200 a square metre. Industry sources said the deal would have been negotiated at the higher end of the rent spectrum.
Ray White’s Bob Walsh leased the store, set to open in May 2017.
Gowns on the coast
Wedding gown business Nothing to Wear has opened a new store at a newly leased 52sq m retail space on the ground floor of 34 River Esplanade, Mooloolaba on the Sunshine Coast.
There are seven car spaces on the property, a reception, showroom, kitchen area plus two extra rooms.
Ray White’s Emily Pendleton negotiated the two-year lease on a net annual rent of $19,760.
And towels in the west
Retail company Adairs will open a new store in Jandakot, Western Australia, after leasing a 835sq m South Central space at 87 Armadale Road for six years.
A private landlord leased the space for a net annual rent of $192,050.
Vend Property’s Jeff Klopper brokered the deal.
Textile business Nolan UDA has agreed terms on a new warehouse lease at 354 Boundary Road, Dingley in Melbourne’s south-east.
There is a 2200sq m clearspan warehouse with multiple roller-door access that backs onto Nolan’s existing facility at 5 Conifer Crescent, Dingley. They are renting the property for more space.
Savills’ Gareth Jackson negotiated a three-year deal, with options, on an annual rent of $151,760.
Morris Property Group has secured the federal government as a tenant at its office property at 20 Allara Street, Canberra through Colliers International’s Michael Ceacis.
The 840sq m space will cost the government a gross annual rent of $385 a square metre over two years.
Op shop expands
Toorak Op Shop has agreed terms on a new 150sq m lease at 1A Carters Avenue, Toorak, in Melbourne to expand its business.
Teska Carson’s Tom Maule negotiated the five-year lease on a net annual rent of $47,500.
The lessor is a Melbourne private investor.
Pabs Furniture Rentals is moving to Stockland’s Hendra Distribution Centre at 17/420 Nudgee Road, from East Brisbane, after striking a seven-year lease for a 1878sq m warehouse.
The net annual rent for the property is $187,000.
CBRE”s Dan Munich and Nick Witheriff handled the transaction.
New digs for recruiter
Executive search company The Mitchellake Group has upgraded to a newly fitted out 190sq m office at Melbourne’s 356 Collins Street.
The gross annual rent for the property is $475 a square metre, on a three-year lease.
CBRE’s Scott McGlone and Ed Lower handled the deal for the landlord, 356 Collins St. Pty Ltd.
The building’s ground-floor lobby, facade and end of trip facilities have been upgraded.
Growing company ACCE Investments Group Pty Ltd has leased a whole-floor 292sq m office at 74 Castlereagh Street from Country State Development Pty Ltd for a gross annual rent of $880 a square metre under a five-year lease.
Knight Frank’s Seann Cash closed the deal.
Interfreight International Pty Ltd will move into a newly leased 285sqm office at suite 5.01, 1753 Botany Road, Banksmeadow in Sydney’s south after agreeing to a five-year lease.
Landlord Exell Properties Pty Ltd agreed on a gross annual rent of $218 a square metre.
JLL’s Edward Washer and Jessica Male facilitated the lease at the modern office building.
St Peters warehouse
The Henley Group Pty Ltd has leased a 628sq m industrial unit at unit 10, 24-26 Burrows Road, St Peters in Sydney’s inner suburbs from a private owner for a gross annual rent of $230 a square metre.
The property offers an office, ground-floor warehouse and mezzanine space with a high clearance warehouse, with room for a forklift and truck access.
JLL’s Edward Washer and Charlie McKenzie brokered the five-year lease.
A Fitzroy private hospitality operator has agreed terms on a three-year lease with options for a 200sq m retail space at 727 Nicholson Street, Fitzroy to open a new cafe and bar.
A Fitzroy-based private hospitality operator has agreed terms for a retail space at 727 Nicholson Street, Fitzroy.
Fitzroys agent Adam Lester negotiated the annual rent for the premises at under $250 a square metre.
Melbourne education provider Menzies Institute will pay an annual rent of $155,000 for the two-level office building at 113 Adderley Street for their sixth Melbourne campus.
Melbourne education provider Menzies Institute’s sixth Melbourne campus.
The property also has a clear-span showroom and warehouse with ample car parking.
CBRE’s Guy Naselli and Daniel Eramo negotiated the five-year lease with options for a private landlord.
Submissions to email@example.com
Keep up with Commercial Real Estate news.
Keep up with Commercial Real Estate news.