Commercial leasing: Watch this space
The amount a Melbourne-based IT software company will pay per square metre (gross) to lease a whole office floor in a strata office building in a deal negotiated by Savills manager of office leasing, Mark Bolis. The lease covers a 434-square-metre space on level 8 in the 171 La Trobe Street building. Bolis says the 10-level building had been extremely tightly held since it was subdivided into separate floors and sold individually in the early 2000s, with only one floor changing hands since 2005, demonstrating the tightly held nature of the building.
The annual rent per square metre that cake manufacturer Bartletts will pay to lease a 1,564-square-metre office/warehouse in Rydalmere, 21 kilometres north-west of the Sydney CBD. The 6 Pike Street property was recently refurbished and features a high-bay warehouse, large roller door and exclusive yard. The lease was negotiated by CBRE’s Shaun Timbrell and Michael O’Neill on behalf of construction firm Direct Developments. Bartletts has taken a three-year lease.
The asking price per square metre (gross) for 916 square metres of office space covering level three at 26 College Street, a B-grade office building comprising of six levels of office accommodation on the fringe of the Sydney CBD. The office block adjoins to the Pullman Hotel. It is located on the eastern alignment of College Street, opposite Hyde Park, with Francis and Oxford Streets being the cross streets. Museum Station and Elizabeth Street Bus Terminal are both within close proximity. The space is being marketed by Christian Minards from Ray White Commercial.
The annual rental income (plus GST and outgoings) on a new top floor office lease in Hawthorn. Level six at 523 Burwood Road has been leased by Drive Projects from June this year for five years. The floor will go to auction on June 20 and is expected to sell for more $2.45 million though a campaign led by Colliers International executives Hamish Burgess and Ben Baines. The 410-square-metre strata office includes a 38-square-metre terrace and 12 secure car parks.