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.


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.


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.


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.


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.



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.


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.


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.


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.


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.

Join the Conversation...

There are comments posted so far.

If you'd like to join this conversation, please login or sign up here

Related Articles