Big brands' flight to quality lands in North Sydney space
Kimberly Clark and Infosys have leased space at 100 Arthur Street, North Sydney.
Kimberly Clark, which will occupy 2200 square metres, has been based at Milsons Point and Infosys, which has taken 2000 square metres, was already in the North Sydney precinct.
Colliers International’s Louise Rowe and Knight Frank’s Euan Matheson are the joint leasing agents for building owner CLA Real Estate.
The rents are confidential, but average A-grade net rents in North Sydney range from $790 to $850 per square metre, according to the agents.
Recent upgrades at the A-grade building with harbour views include work on the main lobby, lifts with destination control and the refurbishment of common areas.
Krost savings
Krost Furniture Group has secured space in Smithfield, west of Sydney, at the new Woodpark Logistics Estate.
The office furniture manufacturer will move from Mascot to 368 Woodpark Road, which is owned and managed by Charter Hall, on a 10-year lease. It has taken 8170 square metres in one of the site’s three warehouses for a net rate of $127.50 per square metre.
CBRE’s Elijah Shakir, Moshe Greengarten and Nathan Egan negotiated the lease, which was struck several months before practical completion of the development. Woodpark Logistics Estate warehouses have clearances of up to 13.7 metres and roof-mounted solar arrays.
Mr Shakir said Krost, which was relocating from south Sydney, had secured a substantial cost saving on rent.
Space en pointe
Dance Dynamics Australia has leased a first-floor space of 278 square metres in the Melbourne bayside suburb of Hampton East.
Fitzroys’ Tom Fisher and Mark Talbot negotiated the five-year lease with options on behalf of a private owner at a net annual rate of $56,000.
The space at 862 Nepean Highway overlooks the busy intersection of South Road and is opposite Moorabbin Junction.
Mr Fisher said the floor had been converted into a recreational layout. The dance studio was adding to its existing locations in Richmond, Malvern, Box Hill and Ringwood.
New recruit
Mars Recruitment will relocate to Perth’s Allendale Square after signing a five-year lease in the office building at 77 St Georges Terrace.
The agency will move to a 250-square-metre office on Level 29 of the Mirvac Capital-owned tower at a net annual rent of $700 per square metre.
CBRE’s Lachlan Lewis negotiated the deal.
“The new office space ticked all the boxes for Mars Recruitment with the bonus of moving back into the central CBD, a location they had strong preference for,” he said.
Golden opportunity
Golden Circle Factory Outlet has signed a five-year lease for 1752 square metres at Primewest’s Homestyle Centre in Morayfield, north of Brisbane.
The family owned and operated grocery discount outlet is contracted with the owners of Golden Circle, Kraft Heinz, to sell its clearance products.
Colliers International’s Chris Alcock, who negotiated the lease, is marketing the centre for Primewest. He said the centre had been repositioned to be driven more by daily needs rather than focusing on discretionary spending consumers.
The deal secured one of the last remaining tenancies at the 343 Morayfield Road centre.
Mr Alcock said the centre was marketed at $230 per square metre gross.
Joinery in
Milano Joinery has leased an industrial property at Ingleburn, south-west of Sydney.
Link Property Services’ Michael Mileto and Paul Mileto struck the three-year deal for 3/32 Williamson Road, which is owned by MKP Property Investments Holdings.
The annual gross rental for the 1767-square-metre property is $185,535.
Full house
Infinity Property Group has leased the last remaining office space at 10 Nexus Court, Mulgrave, in Melbourne’s south-east.
Colliers International’s Ash Dean managed the five-year deal on behalf of Nexus Corporate Park owner Salta Properties.
The net face rent for the 350-square-metre space on the top floor of the building is $335 per square metre.
Infinity Property Group joins City Holdings, Renault, Brenntag and Group 4 Building Surveyors at the address.
Mr Dean said a new building under construction at the business park was to become the new home of existing tenant Carlisle Homes and would also include more than 4000 square metres of speculative office space.
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