STAR Scaffolds, which specialises in aluminium scaffolds and platform safety systems, has leased an office warehouse at 1/35 Trade Link Drive, Tullamarine. It has committed to a 3-plus-3-year lease at a net annual rental of $65,000 plus GST and outgoings. Knight Frank's Anthony Cementon negotiated the deal. Star will use the 1027-square-metre office warehouse as its distribution centre for the north and west. There is an 833 sq m warehouse, two-level 194 sq m office area, roller-door access and ample on-site parking.
Record office sale
A 420 sq m office floor in 20 Queen Street has sold for $1.25 million, a record for the building. The fifth floor was snapped up by the international investor behind education provider Infinity Institute of Melbourne. CBRE's Tom Tuxworth and Josh Rutman negotiated the sale on behalf of vendor Crg Vic Properties. Mr Tuxworth said offshore investment in Melbourne city offices was continuing to rise as overseas buyers sought to capitalise on the market's positive prospects for rental growth.
Sites on the future
A KEY development site in Preston has been sold privately by agents Gray Johnson for $3.1 million. The 33-39 Plenty Road property has a total area of 2496 sq m. The vendor was a family that had owned the property for more than 50 years. Held in two titles with a Business 2 zoning, the property has a principal frontage of 55 metres to Plenty Road and a six-metre frontage at the rear to High Street.