Wynn Locksmiths has snapped up a vacant office/warehouse at 110 Bell Street Preston. A boutique warehouse at 90 Stephenson Street Cremorne sold to a well-known Richmond landholder.
Two prime side-by-side investment properties on Sydney Road Brunswick have sold to the same investor.
Two prime side-by-side investment properties on Sydney Road have sold to the same investor, one for $2.08 million and the other for $1.02 million. The double storey shop at 789 Sydney Road was leased to Back In Motion for $72,600 a year with another tenant Akdeniz Aksamlari returning $34,713. Next door at number 791 tenant My Aeon returned $40,000 per annum. Craig McKellar and Anthony Carbone from CVA Property Consultants sold the properties.
Two retail showrooms with a massive 29-metre frontage to Nunawading’s “golden mile” of retail has sold for $7.25 million. The property at 302-304 Whitehorse Road, a strip popular with bix box retailers, was purchased by an eastern suburbs private investor, Gray Johnson’s Matt Hoath said. One showroom is tenanted by Bedshed under a five-year lease that started in 2013 with two further five year options returning $187,000 net. The second is tenanted by My Bedroom & More paying $217,000 net.
Wynn Locksmiths has snapped up a vacant office/warehouse at 110 Bell Street for $2.5 million. The 1083-sqm property was sold with vacant possession by a local investor in an off-market deal handled by David Butera from Butera & Company.
A property on the corner St Georges and Holden roads known as “The Block” sold for $1.545 million on a yield of 3.93 per cent to a Melbourne family. Gross Waddell’s Alex Ham and Jonathon McCormack sold the property, leased for $60,720 per annum, in conjunction with Ian C Dungey. About 40 people attended the auction with one bidder on the phone from Singapore. Another shop at 331 Smith Street in Fitzroy was sold for $1.51 million in conjunction with Darcy Jarman. The lower level shop was leased to Hanabi Sushi, a Japanese takeaway, for $35,152 a year while the upstairs residential also had a tenant.
A boutique warehouse at 90 Stephenson Street sold to a well-known Richmond landholder for $455,000, about 37 per cent, above the reserve price. Intense bidding from six buyers saw the single-level 200-sqm, solid brick, factory eventually go under the hammer for $1.655 million, Teska Carson’s Matthew Feld said. It sold with vacant possession in front of an 80-strong crowd. Meanwhile, a securely leased industrial property in Kensington sold on a yield more commonly associated with retail strip sales. George Takis said 22 Thompson Street went for $798,000, $100,000 over reserve.
GormanKelly’s Chris Alcock and David Minton sold 21 Glenferrie Road, post-auction for $930,000. The two-level building is leased to a bridal shop for $33,262 net per annum.
Popular Vietnamese restaurant misschu has taken a 190-sqm corner location on the ground floor of South Melbourne Central at 111 Cecil Street. The new restaurant will be misschu’s third outing in Melbourne. Melbourne Acquisitions’ Rick Silberman negotiated the deal. Specialty rents in the area are typically around $600 per square metre.
Frasers Property and the Charter Hall-backed Commercial Industrial Property Group secured BSN Medical as a tenant in their expanding Mulgrave Office Park. Healthcare business BSN took 1839 sqm – a whole floor – in the jointly developed business park at 211 Wellington Road for around $300 per square metre plus car parking. CBRE’s Elise Betts arranged the deal in the yet-to-be-finished building. It follows BMW’s financial services arm to occupying 4729 sqm in Building C, which is due for completion in the third quarter of 2016. Other tenants include Mazda in Building A.
ASX-listed Gale Pacific which manufacturers shade cloths under the Coolaroo brand is moving its distribution centre from Braeside to the new Discovery Logistics Park in a deal negotiated by Grant Tishler from Crabtrees Real Estate. Gale signed a five-year lease for the 11,338-sqm facility for more than $900,000 a year. In another deal Megan Miles negotiated a 10-year pre-lease in the Chifley Business Park at Moorabbin Airport for Netra Hospitality and Hygiene which will take 1890 sqm of space for $170,000 a year.
Global communications provider L-3 Communications has leased a 589-sqm office at 75 Lorimer Street in the Hallmarc Business Park for its n operations. L-3 employs about 45,000 people worldwide and has contracts with n Defence Force and maritime services.
Carpet and rug retailer Halcyonlake has taken a 250-sqm office showroom plus car spaces at 3 Prince Patrick Street. The modern, open plan building which has an outdoor terrace overlooking Church Street was leased for $80,000 per annum by Jon Lu from Morley Commercial.
IT companies has been active in the eastern suburbs office market. Cyara Solutions has leased 458sqm at 554 Burwood Road on a three-year lease for for $345 per sqm, while another IT related business ROI杭州龙凤论坛m.au has taken 420 sqm on a three-year lease at 801 Glenferrie Road for $280 per sqm, Gorman Commercial’s Richard Height said. The Glenferrie Road building was now fully leased after recent tenants Marshall White and Exhibitions and Events took space.
Toss out the pasta and move in the masseurs. A shop at 231 Lygon Street has been leased to massage and beauty therapists Mel Massage on a 10 by five year lease. Gross Waddell’s Andrew Thorburn and Tamara Gross struck the deal on annual net rent of $78,000 for the 148-sqm, two-level shop in the heart of Lygon Street.
CBRE’s Melbourne retail leasing team has employed Taylor Callaghan to work alongside Zelman Ainswoth and Samantha Hunt. Taylor previously worked for CBRE Global Corporate Services. Meanwhile, Grant McKenzie, long-time Kliger Wood commercial agent, has moved to the country with his imminent bride and is starting a new career in rural real estate with Ruralco Kilmore. And Andrew Stops will join TressCox Lawyers as a new partner on the national commercial litigation and insolvency team. Andrew joins the firm from Piper Alderman.
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