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Market wrap

Sales

Sales

DTZ has sold two office suites as interest in the strata title market picks up. One, at 140 Bourke Street, sold for $610,000 as an off-market transaction. A 100-square-metre suite at 104/25 Claremont Street, South Yarra, sold for $590,000. Four suites in the refurbished 140 Bourke Street have sold over the past 12 months. DTZ's Danny Clark said there was "robust" interest for 80 to 150-square-metre office space.

Leases

KEYSBOROUGH

International flooring specialist QEP Australia has leased a new office and warehouse in Keysborough. The 5208-square-metre space is in adjoining warehouses at 25-27 Olive Grove. Savills Australia's Luke Jesson, who brokered the deal with colleague Lynton Williams, said QEP will pay $390,450 per annum net for an undisclosed term. The lessor was a Melbourne-based private developer.

MULGRAVE

Colliers International's Damien Adkins has negotiated two leases simultaneously for 400 square metres of office space at 1 1-3 Compark Circuit. The deals with Kennametal (three years) and Elite Staffing (six years) will return a net face rent of $260 per square metre.

DANDENONG

Woodhouse Timber Company will move into a new office, showroom and warehouse facility at Dandenong South. The three-year lease on a 386-square-metre office and 1615-square-metre warehouse in Unit 1, 73-81 Dandenong Logis, is about $150,000 a year net, said Savills Australia's Chris Telley and Lynton Williams.

CBD

Workplace specialist ORS Group will move from 685 Burke Road, Camberwell, into 260 square metres of fitted space at 717 Bourke Street in a deal brokered by Colliers International's Adam Shirley. ORS took the two-year lease on a net effective rent of $280 per square metre.

sjohanson@fairfaxmedia.com.au or cvedelago@fairfaxmedia.com.au

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