BRIEFS

STAR Scaffolds has leased an office-warehouse at 1/35 Trade Link Drive, Tullamarine. The deal is a 3-plus-3 year lease at a net annual rental of $65,000 plus GST and outgoings. The premises total 1,027 sqm (including an 833 sqm warehouse and a two-level 194 sqm office), with roller-door access and ample on-site parking, and will be used as the company’s distribution centre for the north and west. The lease was negotiated by Knight Frank’s Anthony Cementon.

The transaction shows concrete tenant demand for a 1,027 sqm distribution-style office-warehouse in Tullamarine, with a committed 3+3 year lease at $65,000pa plus GST and outgoings. For commercial property investors, that highlights leasing activity in industrial/distribution stock in Melbourne’s north-west and the types of tenancy and facilities (warehouse area, two-level office, roller doors, parking) that tenants are taking.

A 420 sqm office floor on the fifth floor of 20 Queen Street sold for $1.25 million, a record for that building. The buyer was an international investor behind education provider Infinity Institute of Melbourne. The sale was negotiated by CBRE’s Tom Tuxworth and Josh Rutman on behalf of vendor Crg Vic Properties.

CBRE’s Tom Tuxworth said offshore investment in Melbourne city offices was continuing to rise, with overseas buyers seeking to capitalise on the market’s positive prospects for rental growth.

A key development site at 33–39 Plenty Road, Preston, was sold privately for $3.1 million by agents Gray Johnson. The property totals 2,496 sqm, is held in two titles, carries a Business 2 zoning, and offers a principal frontage of 55 metres to Plenty Road plus a six-metre rear frontage to High Street. The vendor was a family that had owned the property for more than 50 years.

Knight Frank’s Anthony Cementon negotiated the STAR Scaffolds lease in Tullamarine. CBRE’s Tom Tuxworth and Josh Rutman negotiated the 20 Queen Street office sale for vendor Crg Vic Properties. The Preston development site at 33–39 Plenty Road was sold privately by agents Gray Johnson.

The Tullamarine premises include an 833 sqm warehouse area, a two-level 194 sqm office, roller-door access for loading, ample on-site parking and a total area of 1,027 sqm. Those features support warehouse operations and distribution activity for north and west catchments.

The 420 sqm fifth-floor sale at 20 Queen Street fetched $1.25 million, a record for that building, and was purchased by an international investor tied to Infinity Institute of Melbourne. CBRE noted the transaction amid rising offshore investment in Melbourne city offices, driven by overseas buyers targeting expected rental growth—an indicator investors watch for market sentiment and capital flows.