New cafe concept brews in Melbourne's Richmond
Local cafe operators have leased an 86.5sq m retail space at 520 Victoria Street, Richmond, Melbourne. Photo: Supplied

New cafe concept brews in Melbourne's Richmond

A new tenant in Melbourne’s Richmond plans to launch a fresh cafe concept after signing a three-year lease at 520 Victoria Street.

The net rental on the 86.5s square metres retail space is $40,000 per annum.

CBRE’s Jason Orenbuch, Zelman Ainsworth and Tan Thach managed the deal for landlord Salta. The occupiers are local operators who have experience with a number of cafes.

Package deal

ACME Case has signed a five-year lease deal for a 2441-square-metre industrial facility in Silverwater, west of Sydney.

The business, one of Sydney’s oldest packaging designers and manufacturers, will pay a net rent of $118 per square metre for 93A Wetherill Street.

JLL’s Marco Chiodo and David Lidgard managed negotiations for a private lessor.

The freestanding property has a building area of 1754-square-metre. High-clearance clear-span warehousing is accessed by three on-grade roller shutter doors.

New space for Orbitz

Orbitz Elevators has secured new premises in Seven Hills, leasing space formerly occupied by AMS Furniture.

CBRE’s Matthew Alessi and Brendan Wein negotiated the lease over the 1222-square-metre office-warehouse at 13 Distribution Place.

The deal is for five years, with a five-year option. It was struck at an initial net rental of $140 per square metre.

The property has a large concrete forecourt, allowing container loading and unloading. It also includes a modern, two-level office, and internal warehouse clearance of up to 8.2 metres.

For the kids

Keiki Early Learning has leased a 1939-square-metre tenancy at Joondalup, north of Perth.

The childcare centre operator will occupy the space at 57 Joondalup Drive for 12 years on a net rental of $300,000 per annum.

Vend Property’s Paul Davison negotiated the deal on behalf of lessor Joondalup Gate Holding.

It is the seventh centre opened by Keiki Early Learning, which joins 31 other tenancies at the large-format retail complex.

Drinks and good health

Centuria Industrial REIT (CIP) has fully leased its 12,400sq m office-warehouse in Thomastown, north of Melbourne, to two separate tenants.

Previously occupied by packaging company Amcor, the property at 49 Temple Drive will now house beverage production business Multi Bev and healthcare equipment specialist Aidacare. Total net income is about $1.02 million per annum.

CBRE’s Daniel Eramo and Daniel De Sanctis negotiated both lease deals on behalf of CIP.

Building benchmark

BSM Global has leased office space in Melbourne’s Docklands, bringing the building to full occupancy.

JLL’s Andrew Hayes negotiated the four-year lease for owner Centennial Property Group. The leasing rate of $500 gross per square metre is a record for the 425 Docklands Drive building, according to the agency.

BSM Global, which specialises in global trade management systems and solutions, will occupy 166 square metres in Suite 5.

Home on the Grange

Medical equipment supplier Astir Australia has taken a three-year lease over a 3300-square-metre industrial building at Smeaton Grange, in Sydney’s south-west.

Link Property Services’ Michael Mileto and Paul Mileto managed the deal for Unit 1, 148 Hartley Road, on behalf of lessor Guerrera. The net rental is $90 per square metre.

The warehouse has an internal clearance of 8.5 metres and an oversized roller door with awning.

Industrial milestone

Four industrial tenants have leased space totalling 30,000-square-metre in the western Sydney suburb of Smithfield.

Colliers International’s Ryan Carey and Peter Dale, and LJ Hooker’s Marcel Elias and John Tanna negotiated the leases at 2 Percival Road.

The new tenants include Regional Road Express, TRI Underground, Modular Building Systems and Transconnect Logistics. Rents per square metre ranged from $85 for low-clearance space to $110 for high-clearance space with awning areas.

The 8-hectare site was sold by Colliers in 2017 to a private investor, becoming vacant in June 2018.

Get a weekly roundup of the latest news from Commercial Real Estate, delivered straight to your inbox!

By signing up, you agree to Domain’s Privacy Policy and Conditions of Use. You may opt out at any time.