Gourmet doughnut group Doughnut Time has expanded nationally taking out retail leases in Brisbane and Sydney.
The retailer, which started in Brisbane’s Fortitude Valley last year, has leased a 69-square-metre tenancy in a shopping complex at 345 Pine Mountain Road, Mount Gravatt East, in Brisbane, for three years with options.
The net annual rent is set at $40,000.
Doughnut Time has leased retail space in Brisbane’s Mount Gravatt East. Photo: Supplied
Ray White’s Jack Gwyn and Jonathon Jones handled the transaction.
In Sydney, the company signed a five-year lease for a hole-in-the-wall shop at 2A The Corso in the beachfront suburb of Manly. The tenancy includes 40sqm retail space and 24sqm basement area.
CBRE’s Toby Silk, who negotiated the lease for private lessor Nick Nicolaou on net annual rent of $125,000.
Doughnut Time, founded by Damian Griffiths recently took on an investment partner, the Melbourne-based Besen family.
Malaysian restaurant PappaRich has secured a 200sq m ground floor retail tenancy at 57 Liverpool Street, Sydney CBD, from private investor Mei Ha Cheng, paying a gross annual rent of $1900 a square metre.
The tenancy also includes mezzanine space and alfresco dining. It will be the company’s flagship restaurant in Sydney CBD.
Colliers International’s Cameron Wakeham and Jordan Lee handled the deal.
Danny Hachem’s Italian restaurant 70 Grams will open at a newly leased 124sq m retail space at 260 Collins Street, Melbourne, after the restaurant struck a 10-year lease at a gross annual rent of $1350 a square metre with landlord, Lasalle Investment Management.
JLL’s Mitchell Humphreys marketed the property.
X marks the spot
Five Mile Press and Grass Roots Performance Solutions have relocated to the recently refurbished X building at 534 Church Street, Richmond, on new leases.
Five Mile Press has committed to the whole top floor of 691sq m for five years while Grass Roots Performance Solutions has also signed a five-year lease for 360sq m office space.
Both transactions are understood to have achieved gross annual rents in the mid-$400 a square metre range.
Knight Frank’s James Treloar brokered the deals with JLL.
National Australia Bank’s wealth management arm MLC has entered into a short term 12-month lease with Regus Serviced Offices for 166 workstations at the Regus centre on Level 10 at 555 Lonsdale Street, Melbourne.
Each workstation was understood to be leased at $400 a desk
Knight Frank’s Jemma Hutchinson brokered the deal.
Great Western Auto Dismantlers will move to a 4048sq m industrial property with a yard at 2 Pine Road, Yennora in Sydney’s west, on a three-year lease after relocating from Chipping Norton.
CBRE’s John Karlovasitis and Elijah Shakir negotiated the lease for Spartan Steel on a gross annual rent of $130,000.
Harcourts moves, too
Harcourts Real Estate has moved to new Victorian headquarters space in the Kings Business Park at 5 Coventry Street, South Melbourne, after signing a five-year lease for a top floor 388sq m office space.
It is understood the annual rent for the property is about $350 to $375 a square metre.
JLL’s Richard Norman acted for landlord, Kings Technology Park.
Knight Building Group has expanded to 13 Lennox Street. Photo: Supplied
Homes designer and builder, Knight Building Group, has signed up for a new office-warehouse in Melbourne’s Moorabbin on a three-year lease with options through Savills’ Gareth Jackson.
Knight needed the 900sq m warehouse and 100sq m office at 13 Lennox Street to expand from its Caulfield office.
The annual rent was agreed at $60,000 with a private Melbourne landlord.
Salto Properties has secured Darlo Group as a new tenant for a 474sq m office at 63 Exhibition Street for three years.
After a recent expansion Darlo Group needed more space for its Melbourne headquarters.
Colliers International’s Milly Stockdale negotiated a net annual rent of $350 a square metre.
Big is better
Our United Food Co Australia Pty Ltd has also expanded into larger warehouse and offices at 608 Grand Junction Road, Regency Park, South Australia, after agreeing to a five-year lease with options.
The 2900sq m property was leased at a gross annual rent of $250,000.
The modern property features a high clearance warehouse, loading canopy and large lay-down hardstand areas.
JLL’s David Ludlow marketed the property.
Ignite Energy Pty Ltd has upgraded to a 194sq m office with views at Level 7, 140 Arthur Street, North Sydney, leasing it from Fully Crown Pty Ltd for a gross annual rent of $120,000.
JLL’s Jaime Kernaghan was responsible for the five-year lease.
Submissions to email@example.com
Keep up with Commercial Real Estate news.
Keep up with Commercial Real Estate news.