Commercial leasing: Watch this space
The annual rent that South Australian government’s Department of Environment and Natural Resources will pay to lease a five-level office building over five years, with the lease commencing on June 30. The lease of 1 Richmond Road was negotiated by McIntyre Robertson Scarborough Pty Ltd on behalf of Centuria Capital’s property funds management subsidiary, Centuria Property Funds. The building was constructed in 1985 and provides approximately 8,135 square metres of office accommodation and approximately 527 car spaces. It is currently leased to the Royal District Nursing Service and the SA government. The property occupies a prominent position on one of Adelaide’s main arterial roads and is located one kilometre south-west of Adelaide’s CBD and approximately five minutes from the Adelaide Airport.
The estimated gross annual rent that national building firm Parchem Constructions Supplies Pty Ltd will pay to lease a warehouse/office complex in the Gaven Central business precinct on the northern Gold Coast on a three-year lease including two three-year renewal options. The company has leased 328 Brisbane Road, Arundel, in a deal negotiated by Nick Baxter and Larry Dean of Ray White Commercial Runaway Bay. Parchem is a subsidiary of ASX-listed Alesco. The building comprises a 600-square-metre outdoor display area, a 1,000-square-metre showroom, an 85-square-metre warehouse and a 320-square-metre mezzanine office.
The initial annual rent per square metre that the Last Resort group will pay to lease level three at 99 York St in the Bowler's Club building in the Sydney CBD in a three-year deal. The company supports a wide range of working holiday, living, study and intern abroad programs for Japanese citizens. The lease agreement was negotiated by Ray White Commercial's John Skufris, who says Last Resort will be relocating from the Citigroup building at 2 Park Street. According to Skufris, others to move into the Bowler’s Club building include health services business Assessments Australia and multi-media news organisation, investor portal and events management firm Proactive Investors. Ray White Commercial completed both transactions on behalf of owners CBD Design and Print Management Nominees. The property at 99 York Street is a 14-storey strata-titled office building with basement parking and more than 12,000 square metres of office space. Other occupants include the Jewellers Association of Australia, Association of Independent Schools of NSW, Australian College of Professionals and the Canturi Corporation. “We have one remaining suite of approximately 165 square metres available for lease,” says Skufris.
The estimated net annual rent that industrial business consultant the Phalanx Group will pay on a new five year office lease at Mt Waverley in Melbourne’s south-eastern suburbs. The 8/14 Lionel Road property comprises a modern 550-square-metre premises, which, according to leasing agents Savills Australia’s Daniel Kelly and Lynton Williams will cater to the company’s expansion and offer significant cost efficiencies. Phalanx will relocate from the inner east, where rents are substantially higher. Kelly says Mt Waverley offers more space at a much cheaper rental with the additional advantage of freeway access and plentiful parking. The lessor is a private investor based in Melbourne.
The annual net rent that Sara Lee will pay to lease level one, lot one, a four-level office building at 924 Pacific Highway on Sydney’s upper north shore. The food company will lease 1,798 square metres of strata office area on one floor plus a large (243-square-metre) outdoor entertaining terrace. The five-year lease was arranged by Justin Hayes of Jones Lang LaSalle on behalf of Centuria Capital’s property funds management subsidiary, Centuria Property Funds. The building is positioned on the corner of the Pacific Highway and Ryde Road.