Commercial leasing: Watch this space
The gross rent per annum that software development company Blue Chilli will pay to lease a 396-square-metre office at level 2, 50 York Street, Sydney. The office block is described as a character-filled warehouse style commercial strata building. The two-and-a-half year lease was negotiated by Anthony Harris of Ray White commercial office leasing on behalf of the lessor, Avard Pty Ltd.
The estimated net annual rent that Everlasting Watertanks Pty Ltd will pay on a new three-year office and warehouse lease at Mulgrave in Melbourne’s south-eastern suburbs in a deal negotiated by Savills Australia. The 15 Glenvale Crescent property comprises a modern 785-square-metre premises, which according to leasing agents Savills Australia’s Daniel Kelly and Lynton Williams will cater to the company’s consolidation and offer significant cost efficiencies. The lessor is a Melbourne-based private investor.
The net face rent per square metre that fashion store Supre to lease a 600-square-metre industrial property at 9-11 Springvale Road, Springvale. The two-year lease was negotiated by Sasan Misaghian and Jamie Stuart from Colliers International. The lease has three options of five-year renewals. The lessor was John Cappellin and the previous tenant was liquor group BWS. According to Misaghian, Supre has taken up a prominent site next to the corner of Princes Highway and Springvale Road (Spaghetti Junction).Stuart said the site was leased in less than a month, with the premium rental achieved with minimal incentive.
The estimated net rent per annum net that industrial business consultant the Phalanx Group will pay on anew 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 leasing agents Savills Australia’s Daniel Kelly and Lynton Williams say will cater to the company’s expansion and offer significant cost efficiencies. The lessor is a private investor based in Melbourne.
The gross rent per annum that pharmacy chain Priceline will pay to lease a shop at 128 Exhibition Street in the Melbourne CBD. The 10-year lease was negotiated by Ben Tremellen from Colliers International for around 433 square metres of ground-floor space. According to Tremellen the lease set a new rental record for the strip. “The retail scenery on Exhibition Street is, without a doubt, changing. This move by Priceline – as well as a restructure of the tenancy mix at Southern Cross, which includes Australia Post currently fitting out their new flagship premises and another new national retailer joining the building within a similar timeframe – has activated this retail strip.”