MARKET WRAP
BURWOOD
A two-storey brick building at 275 Burwood Highway has sold before auction for $710,000 through Fitzroys. It was the first time in 30 years the 188 sq m building had been put to market and the sale delivered a yield of 3.5 per cent. The agent was James Lockwood.
CBD
Drapac has sold an office suite in its 140 EAST strata development to a local accountant for $1 million. The 194 sq m space is in 140 Bourke Street. The agents were Tom Tuxworth, Ed Wright and Chris Pharr of CBRE.
HAWTHORN
A medical group has bought a double-fronted Victorian property in Hawthorn East which has long been used as a medical centre. The residential-zoned property at 759 Burwood Road, which offers 800 sq m of space, fetched $2.7 million at auction. The sale was handled by Scott Orchard, Jamus Campbell and Mark Wizel of CBRE and Andrew Macmillan and Steven Abbott of Jellis Craig.
WEST MELBOURNE
A two-storey office warehouse leased to AHI Carrier has sold for about $2.6 million. The 745 sq m property at 14-20 Roden Street delivers an annual rent of about $109,909 on a lease that expires in November 2014. Raff De Luise and Guy Naselli of ICR Property Group negotiated the sale.
ROWVILLE
Developer C&R Momentum has sold five boutique office warehouse units in the first week of the sales campaign for its Momentum Business Park project. The units at 5 Enterprise Drive have asking prices of $382,000 to $497,000. The sales were negotiated by Luke Pitcher and Grant Tishler of Crabtrees Real Estate.
Leases
ALTONA NORTH
Salta Properties has achieved full occupancy at its industrial estate after signing a three-year lease deal with South African furniture importer Weylandts. The group has taken 2640 sq m warehouse facility at 421-439 Grieve Parade ahead of opening a retail outlet in Melbourne. Nick Saunders of Colliers International said the rent was $55 per sq m.
BROOKLYN
Stockland has leased a warehouse facility inside its 40,000 sq m distribution centre. The tenant is logistics company the Fashion Movers, which has taken a 6429 sq m building on a three-year term. The net face rent is $50 per sq m and the deal was negotiated by Nathan Bingham of Colliers International.
DOCKLANDS
New Quay will be home to a new entertainment venue called Aria Bar & Events. The 500 sq m property, formerly occupied by BlueFire Charrascaria Grill, offers waterfront views. The three-year deal was negotiated by Michael Di Carlo and Jeremy Marmur of Savills. The asking rent for the property was about $550 per sq m.
RAVENHALL
Savills has signed two new tenants to industrial buildings at rents between $77 and $80 per sq m. A data electrical company and a fitness industry player signed three-year deals for 60-62 Rebecca Drive and 47-51 Rebecca Drive, according to Luke Jesson and Tim Casanelia.
RICHMOND
UK-based foodie brand Symington's will open an office at 582 Swan Street after winning a contract to supply products to Coles. The 230 sq m space was leased for four years on a rent of $330 per sq m. Leah Baxter of Colliers International arranged the deal.
Frequently Asked Questions about this Article…
The article lists several recent sales: a two-storey brick building at 275 Burwood Highway sold for $710,000 (188 sq m) through Fitzroys; an office suite in 140 Bourke Street (194 sq m) sold for $1 million (Drapac/CBRE); a double-fronted Victorian property at 759 Burwood Road, Hawthorn East (about 800 sq m) sold at auction for $2.7 million; a two-storey office/warehouse at 14–20 Roden Street, West Melbourne (745 sq m) sold for about $2.6 million; and five boutique office-warehouse units at 5 Enterprise Drive, Rowville were launched with asking prices from $382,000 to $497,000.
The piece notes a 3.5% yield on the sale of the 188 sq m building at 275 Burwood Highway. It also gives rental incomes for some properties (for example the Roden Street asset delivers about $109,909 pa in rent). Other deals list rents per square metre rather than overall yields.
Industrial lease deals highlighted include Weylandts taking a 2,640 sq m warehouse in Altona North at $55 per sq m on a three‑year lease; Fashion Movers leasing a 6,429 sq m building inside Stockland’s Brooklyn distribution centre at a net face rent of $50 per sq m for three years; and Savills negotiating industrial lettings at Ravenhall at rents between $77 and $80 per sq m.
Several leases noted are short-to-medium term: Weylandts and Fashion Movers signed three-year deals; Ravenhall tenants signed three-year deals; Symington’s leased office space in Richmond for four years. Investors should be aware these terms can affect income stability and re‑leasing risk when assessing commercial property investments.
The article shows a range of tenants: a South African furniture importer (Weylandts) opening a retail outlet, a logistics company (Fashion Movers), a data electrical firm and a fitness-industry tenant at Ravenhall, a medical group buying a long-standing medical centre in Hawthorn East, and Symington’s (a UK foodie brand) taking office space after winning a Coles supply contract. An entertainment venue (Aria Bar & Events) is also moving into Docklands.
Brokers and agencies mentioned include Fitzroys (James Lockwood), CBRE (Tom Tuxworth, Ed Wright, Chris Pharr, Scott Orchard, Jamus Campbell, Mark Wizel), Jellis Craig (Andrew Macmillan, Steven Abbott), ICR Property Group (Raff De Luise, Guy Naselli), Crabtrees Real Estate (Luke Pitcher, Grant Tishler), Colliers International (Nick Saunders, Nathan Bingham, Leah Baxter), Savills (Michael Di Carlo, Jeremy Marmur, Luke Jesson, Tim Casanelia), as well as developers Drapac, C&R Momentum and owner Stockland.
Quoted asking rents include about $550 per sq m for the 500 sq m waterfront site at Docklands (Aria Bar & Events) and $330 per sq m for a 230 sq m office on Swan Street in Richmond leased to Symington’s for four years.
Property sizes in the article range widely: 188 sq m (Burwood Highway), 194 sq m (140 Bourke Street), roughly 800 sq m (Hawthorn East), 745 sq m (Roden Street), 2,640 sq m (Altona North warehouse), and 6,429 sq m (Brooklyn distribution centre). Size matters because it affects rental income, tenant type, management complexity and liquidity—larger industrial assets typically suit institutional or specialist investors, while smaller suites and boutique units can be more accessible to everyday investors.
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