Times Education expands with 2500 square metre Brisbane office lease
Vocational education business Times Education Group Australia will set up its first Brisbane office after signing a seven-year lease for 2500 square metres of office space across five floors at 316 Adelaide Street in the Brisbane CBD.
The rent is confidential but the building, which has undergone a renovation, is commanding gross annual rents around $525 to $550 a square metre.
Colliers International’s Roland Dean marketed the space for owner MRL Investments, after Flight Centre vacated 5000 sq m when its leased expired.
Smashing lease
Gemini Accident Repair Centre has leased a 2812 square metre industrial facility at 2/66 Jedda Road, Prestons, in Sydney’s west, for expansion.
It has agreed to pay a net annual rent of $309,320 on the three-year lease, which has options.
Link Property Services’s Michael Mileto, Colliers International’s Fab Dalfonso and LJ Hooker’s Marcel Elias handled the deal.
Western expansion
Also in Sydney’s west, flooring company QEP has agreed terms on a three-year lease of a 1794 square metre industrial property at 2/472 Victoria Street, Wetherill Park.
The company will pay a net annual rent of $206,264 for the facility, to be used as its NSW distribution centre.
LJ Hooker’s Marcel Elias represented landlord Dallen Bay Pty Ltd.
More out west
The Kyda Group has secured a 2073 square metre warehouse at 17 Stoney Way, Derrimut, in Sydney’s west, on a three-year lease with options, at a net annual rent of $140,000.
Colliers International’s Charlie Woodley and Ashley McIntyre marketed the property for a private landlord.
Gallery space
Brand development firm Kojo Productions has secured an office/warehouse property in Melbourne’s Richmond on a seven-year lease with options.
The two-level, 768 square metre property at 7-9 Albert Street comprises a gallery/office and workshop/warehouse space, a kitchen and parking.
Teska Carson’s Fergus Evans, Matt Feld and Luke Bisset negotiated a net annual rent of $200,000 for a private Melbourne-based investor.
Secure deal
Intertrading Australia is moving to larger premises after committing to a four-year lease of a warehouse with a secure yard at 4 Fiveways Boulevard, Keysborough, in Melbourne.
Knight Frank’s Stuart Gill and Luke Crozier negotiated a net annual rent of $212,187 for the 2423 square metre building.
Books resurgence
Publisher Herron Books Distributors has leased a freestanding warehouse/office at Morningside in Brisbane’s east for its new headquarters.
Herron Books has signed a three-year lease over the 1760 sq m space at 14 Manton Street through Ray White’s Stephen Ferguson and Colliers International’s David Gibson.
It will pay a net annual rent of $110 a sq m for the high-bay warehouse, with four container-height roller doors, on a 4000 sq m site.
Short term
Bedding business Snooze has taken up an 18-month tenancy for a 1227 square metre warehouse at 19 White Street, Maribyrnong, until it finds a larger facility.
The full-term net annual rent on the property is $58,500, Colliers International’s Ashley McIntyre and Charlie Woodley said.
Balcony special
NGT Marketing will move to a newly leased 348 sq m office, with a wraparound balcony, at 799 Springvale Road, Mulgrave, in Melbourne.
The three-year lease will cost the business a net annual rent of $285 a sq m.
Colliers International’s Ash Dean and Chris Meehan represented a private landlord.
Tiny space, tall tower
Anton Capital has signed up smoothie bar Smoothme for the 35 square metre shop 6 on the ground floor of 120 Spencer Street in Melbourne on a three-year lease.
Smoothme will pay a gross annual rent of $35,000 for the property, CBRE’s Samantha Hunt and Tan Thach said.
