Commercial leasing: Watch this space

Commercial leasing: Watch this space
Commercial leasing: Watch this space

The annual net rent (excluding GST and statutory outgoings) that Silver Chair Café will pay to lease a 53-square-metre shop at 80 Waterloo Road, North Ryde, a commercial office building on the Sydney North Shore owned by Centuria Property Funds. The café is attached to the office building located near the Macquarie Shopping Centre. The shop was vacated by the sitting tenant, who sold his business, and Centuria simultaneously did a new lease with the purchaser at the time of the sale.  There was no agent involved. The café also has external area of approximately 42 square metres.


The percentage of gross lettable space that Woolworths will lease in Centro Retail Australia, the new property trust set to rise from the ashes of embattled Centro Property Group. If approved by shareholders, the new entity will own and manage a portfolio comprising 99 shopping centres, with Woolworths and K-Mart the biggest tenants. Woolworths will have 29 tenancies while K-Mart’s 14 stores will take 7.8% of the gross lettable space. Coles, with 24 leases, will take up 7.2% of the gross lettable area available.

 


 

The amount of space Colliers International has leased at 221 London Circuit in Canberra’s CBD. Tenants have come from private and government sectors, including Anglicare Australia, Organ and Tissue Authority, ACT government and Capgemini, to name a few. Michael Ceacis, associate director of government services at Colliers International, believes 221 London Circuit would still be largely vacant if the owners had not taken the initiative and refurbished the building. Located in the heart of the Canberra CBD, 221 London has 8,500 square metres of net lettable are across 11 levels. The Molonglo Group acquired the building in 2008 and has refurbished it to achieve a 4.5 star NABERS rating.

 


The amount educational coaching specialist Edu-Kingdom College will pay annually in net rent as part of a new three-year office and warehouse lease at Springvale in Melbourne’s southeast. Edu-Kingdom‘s term includes two further terms of three years at the Unit 27, 134 Springvale Road. Savills Australia’s Joseph Catanese brokered the deal for the 545-square-metre building (NLA) with access to Springvale Railway Station, cafes and other amenities. The lessor was Speranzo Pty Ltd.

 


The occupancy ratio Dexus is targeting in its flagship 1 Bligh Street office tower by June 2012 after it was confirmed that the federal government intends to relocate the Commonwealth offices into the newly completed green-star office building.  Dexus shareholders have been advised the newly completed state-of-the-art building could be 67% leased by Christmas 2011. The property is currently about half-tenanted, and recently Bank of America Merrill Lynch analyst Simon Garing said it would take developer Dexus four years to fully lease the space. 

 


 

The number of years that bakery/patisserie/café franchise The Jolly Miller will lease new retail space at the Healesville Walk Shopping Centre, about one hour northeast of  Melbourne, in a deal negotiated by Savills Australia. The franchise will open its sixth store in the centre after pre-committing to over 200 square metres of retail space situated next door to a branch of the National Australia Bank. Savills associate director retail services Michael Di Carlo says the store is expected to open in November this year following the completion of a refurbishment of the shopping centre by owner Australand. Di Carlo says while the rental is confidential, rents in the Coles Supermarket anchored centre ar in the vicinity of $500 per square metre.

Know of a commercial leasing deal? Let us know to be included in next week's listing

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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