Dish & Spoon Cafe premises sells for $1.38m

Brunswick

A ground floor shop at 869 Sydney Road has sold for $455,000. The fully renovated 105 sq m premises sold through Alex Ham and Andrew Greenway from Gross Waddell at a building rate of $4333 per square metre. The property is leased to two tenants, returning net rental of $32,400.

Tullamarine

A newly built warehouse at 3c/189c South Centre Road has sold and subsequently been leased through Colliers International’s Corey Vraca and Mitch Purcell. The property fetched $925,000, on a strong building rate of $2605 per square metre and an initial yield of 4.3 per cent. It was leased for $112 per square metre.

Elwood

Located in the heart of Elwood’s retail village, a small 146 square metre freehold shop sold for $1.54 million on a yield of 4.5 per cent. The property fetched a land rate of $9686 per square metre, Gross Waddell’s Alex Ham and Michael Gross said. It was leased to Shagy’s Pizza and purchased by a New South Wales investor.

Cheltenham

A 248-square-metre warehouse/office at Unit 7/109 Tulip Street has sold off market for $730,000 with a 30 day settlement. The property transacted at an annual yield of 4.1 per cent in a deal negotiated by Andrew Pannam from Nichols Crowder.

Toorak

A well-proportioned 130-square-metre office suite at C307, 521 Toorak Road has changed hands for $750,000. Gross Waddell’s Raoul Salter said the property near near Tok H and Trak Centre sold on a building rate of $5769. The suit’s two offices, boardroom, reception and two basement carparks were purchased by an owner occupier with vacant possession.

LEASES

Derrimut

Family business Noordenne Family Group will expand their Coles-anchored Derrimut Village Shopping Centre, adding 3500 square metres of retail space and a 7-Eleven. Leedwell Property’s Chris Parry and Nick Segran have precommitted three new retailers to anchor the development. The Salvation Army and NQR Discount and Variety each took 470 square metres. Ezy Buys committed to 1000 square metres. Terms were between 5 and 10 years and rents between $200 to $230 per square metre. The Noordenne Family migrated to Australia from the Netherlands shortly after WWII and went on to build numerous homes in Melbourne’s west and develop shopping centres.

Clayton North

Home Delivery Services are expanding rapidly around the country to meet demand. In their Melbourne head office at 46-48 Clayton Road they have expanded their lease with another 4830-square-metre property including 807 square metres of cool rooms from a private landlord under an 18-month lease. The older style property was the former Aussie Farmers facility, said Savills Australia’s Lynton Williams.

Melbourne

Malaysian operator, Lulu’s CKT, will serve traditional Char Kway Teow when they open their first standalone store at 31 Hardware Lane. The group secured the 101-square-metre space in Melbourne’s famous food and beverage haunt, paying $155,000 annually on a 7-year term. The deal was negotiated by Cushman & Wakefield’s Michael Di Carlo and Steve Makris. “Hardware Lane continues to be a hotspot for international cuisine with a number of new-to-market concepts now found along this strip,” Mr DiCarlo said.

Moonee Ponds

A string of leasing deals in Moonee Ponds and Pascoe Vale has resulted in tenants taking shops despite the COVID-19 uncertainty. Fitzroys’ Ervin Niyaz has negotiated the lease at 1 Puckle Street to a bridal showroom and dressmaker across the ground and first level. Both spaces were leased for six years plus 5-year options. The 120 sq m ground floor shop 1 leased at $40,000 per annum, while the 453 square metres on level 1 will earn $50,000 per annum. Ms Niyaz also leased a 70-square-metre kiosk cafe in the Australian Taxation Office building at 6-22 Gladstone Street to Agent 22 Pty Ltd on a long-term 12-year deal.

Wheelers Hill

Assetinsure has moved to a larger 70-square-metre office in the Wheelers Hill Business Centre at 202 Jells Road. Gorman Commercial’s Richard Height negotiated the 2-year lease at a rental of $26,250 a year. “Assetinsure were keen to secure a larger tenancy on the ground floor,” he said.

Cheltenham

A 695-square-metre warehouse/office at 9 Dissik Street has leased to a double glazed window and door specialist. Nichols Crowder’s Andrew Pannam negotiated the 2+2 year lease at a net rental of $58,700 a year.

Keysborough

Cameron’s Al Armstrong has negotiated a tenant to move into 70 Indian Drive. The 1024-square-metre warehouse was leased for $100,000 per annum.

Keilor Park

A vacant 1025-square-metre industrial property at 7 Richards Court has leased at a rate of $122 per square metre. Colliers International’s Corey Vraca and Mitch Purcel were behind the deal.