Co-working hubs are leading the recovery in Perth office leasing after Spacecubed signed a 15-year lease for about 2000 square metre of office space over two floors at 45 St Georges Terrace in the Perth CBD.
Spacecubed has an original 500 square metre lease on the ground floor, which it is renewing. It has secured the rest of the ground floor as well as all of level 4.
Rental is confidential but gross market rents in the area are about $625 a square metre plus an incentive.
CBRE’s Lachlan Lewis negotiated the transaction.
Brookfield 2 blooms
Brookfield Office Properties has welcomed PR agency, Cannings Strategic Communications, as a new tenant at Brookfield Place Tower 2 following a long-term sub-lease on a 368 square metre office on level one at a net annual rent of $525 a square metre.
Cannings relocated its headquarters to the premium grade 123 St Georges Terrace from West Perth.
CBRE’s Andrew Denny brokered the deal.
West Perth wins too
ASX-listed mining company Nusantara Resources has secured a new 270 square metre office on the ground floor of 20 Kings Park Road in West Perth on a three-year lease.
The net asking rent was $295 a square metre, CBRE’s Rick McKenzie said.
Bedding company Snooze has opened another store at a subleased 1065 square metre showroom property at Tenancy 2, 27 Kent Way in the Perth suburb of Malaga.
Landlord Harvey Norma agreed to a five-year lease through Vend Property’s Jeff Klopper.
Real estate developer Robina Land Corp has leased a 565 square metre office at Sentinel Property Group’s A-grade office 16-level building The Rocket at Robina on the Gold Coast for two years.
Robina will pay a gross annual rent of $515 a square metre for the property at 203 Robina Town Centre Drive.
Cushman & Wakefield’s Jasmine Bilbosian has closed two three-year office deals with options in Sydney’s Alexandria.
Folli Follie Australia has agreed terms on a 76 square metre luxury office with private terrace at 90-96 Bourke Street with a private landlord, on a gross annual rent of $565 a square metre.
Johnson Tiles Australia has leased a 213sq m high exposure showroom/office at 51 Bourke Road from a private landlord, and will pay a gross annual rent of $587 a square metre.
Safe as warehouses
Owner occupier Safeman Australia has struck a two-year lease with options on a warehouse at 25A Davis Road, Wetherill Park to accommodate an expansion.
LJ Hooker’s Ayment Sobbit and Niemeyers’ Frank Bartorilla negotiated the off-market deal for a private landlord on a gross annual rent of $136.55 a square metre.
Chef Charlie Carrington, will open a new restaurant in Prahran at a newly leased 80 square metre retail space at 202 Commercial Road.
He will pay a net annual rent of $625 a square metre for five years with options.
Teska Carson’s Jack Kelliher brokered the deal for a private investor.
This is the last leasing column for 2017. The column will start again in the last wee
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