City of Melbourne locks in short-term Spotswood lease
The City of Melbourne has leased a new warehouse for part of its events department at 7 Raleigh Street, Spotswood. The 1910-square-metre property was suitable for the logistical requirements of the business.
Colliers International’s Ashley McIntyre and Charlie Woodley negotiated the six-month lease for a private landlord on a gross annual rent of about $14,000 including outgoings.
Oz Design expands
Homewares retailer Oz Design Furniture has agreed to terms on the lease of a new showroom within the Fountain Gate Super Centre bulky goods precinct at Narre Warren in Melbourne for a new outlet.
The 1000-square-metre space at Unit 8, 44 Victor Crescent, has parking.
Savills’ Keith Kooloos with Faceys’ Josh Kendall negotiated the six-year lease with options, for a private investor.
The rent was confidential but annual gross rents in the precinct are in the low $200 a square metre.
Crema Constructions has leased 90 Turner Street, Port Melbourne. Photo: Supplied
Crema no incentives
Family builder Crema Constructions has leased additional industrial space in Port Melbourne close to their current offices to store building materials and construction equipment.
Crema will pay a gross annual rent of $242,000 with no incentives for the older-style industrial building in a multiple building complex at 90 Turner Street. The property was previously occupied by Lendlease and has a 2100-square-metre hardstand area.
It also has a high-clearance section with a 10-tonne travelling gantry crane.
Crema has locked in a three-year lease with options, with a private landlord, through Gray Johnson’s Rory White.
Looking up
Global aviation firm Landrum & Brown has secured the top two floors of the recently redeveloped 114 Flinders Street, Melbourne, on a five-year lease.
Colliers International’s Adam Spencer-Shirley negotiated for landlord Cavehall Propriety Limited at a gross annual rent of $575 a square metre for the 525-square-metre office.
The tenancy includes a mezzanine level overlooking Federation Square.
New home
HR Legal has taken up a new premises at 32 Garden Street on a five-year lease on a net annual rent of $385 a square metre.
The 320-square-metre creative-style office has open-plan areas.
Colliers International’s Damien Adkins and Chris acted for a private landlord.
Bigger trucks
US-based Nelson Global Products Australia will relocate to Dandenong from Scoresby after securing a five-year lease with options on a 5285-square-metre industrial facility to expand its business in the Australian truck industry.
Colliers International’s Gordon Code negotiated the transaction at 317 Abbotts Road at a net annual rent of about $70 a square metre for the landlord Zadena P/L.
Extra space
Ramsay Health Care has agreed to terms on a 58-square-metre consulting suite at 117 Old Pittwater Road, Brookvale, on Sydney’s northern beaches.
The company will pay a net annual rent of $30,375 to landlord Stable Innovations.
Matrix Property Group’s Robbie Horton brokered the deal.
School in the CBD
Austin Education has snapped up a 170-square-metre office space at level two of The Western House building at 460 Collins Street, in the Melbourne CBD, on a three-year lease. The building is now fully occupied.
Fitzroys’ Stephen Land negotiated the deal for a private landlord on a gross annual rent of $63,750.
The nine-level Western House building is anchored by National Australia Bank on the ground floor.
Project One relocates
International construction management firm Project One signed a new two-year lease with options for a 280-square-metre self contained creative space in Cremorne, Richmond, in Melbourne, in a relocation.
The 52 Stephenson Street property has polished-concrete floors, a rooftop garden with CBD views and four car spaces.
Teska Carson’s Fergus Evans and Tom Maule struck a net annual lease of $57,000 for a private Melbourne landlord.
Sustainable laneways
International cycling clothing retailer RAPHA will open its first store in Melbourne after signing a 10-year lease for a two-level, 400-square-metre warehouse at a 32 Guildford Lane, Melbourne.
They have agreed to a net annual rent of $250,000 with a private landlord through CBRE’s Zelman Ainsworth, Samantha Hunt and Tan Thach.
The deal further demonstrates the success of Melbourne’s laneway activation program, Mr Ainsworth said.
NBN helps
Foxcom Australia is expanding, after securing a new NBN contract and has signed on for a 1036-square-metre warehouse at 2 Muir Place, Wetherill Park in Sydney’s west.
Foxcom wil pay a net annual rent of $119,140 over four years.
LJ Hooker’s Aymen Sobbi and Marcel Elias acted for a private investor.
New ark in Kingsford
The Design Ark Pty Ltd has leased a 455-square-metre, high-clearance warehouse with mezzanine office and storage at 125a Houston Road, Kingsford, in Sydney, from Alex Bowen Carpets Pty Ltd.
A private landlord agreed to a five-year lease on a gross annual rent $250 a square metre.
The property offers high clearance, clear-span warehousing accessed via a container-height roller door with mezzanine office and storage.
Colliers International’s Edward Princi closed the deal.
