Commercial leasing: Watch this space

Commercial leasing: Watch this space
Larry SchlesingerDecember 8, 2020

The estimated annual rent per square metre that food businesses have paid to lease space in the Melbourne CBD, with both deals negotiated by Ben Tremellen of Colliers. At 485 La Trobe Street, Tremellen negotiated a deal on behalf of landlord CLSA for café operator Café Saporo to lease 120 square metres of space that was previously foyer seating. At 206 Bourke Street, he negotiated the lease of 501 square metres on Level 1 to another food operator over two tenancies, and at the new SX building on Exhibition Street, a national food operator has taken up 100 square metres.

 


The estimated gross annual rent per square metre (plus a market incentive) that specialist life insurer TAL will pay to lease new headquarters in the Sydney CBD. The group will lease nine mid-rise floors, over 10,500 square metres of space, at 363?George Street, just south of ­Martin Place, taking over space vacated by the Commonwealth Bank. The building is owned by ISPT and is formerly known as TOWER Australia. TAL will also take over the CBA’s prominent sky sign on the tower. The lease is for 12 years and was negotiated by Cadigal Office Leasing’s Mark Tindale and CBRE. Jason Wright of GJS Property advised TAL, which is relocating from Milsons Point across the harbour

 


The gross annual rent that Gold Coast digital printing and sign writing company The Rocket Signtists will pay to lease an 86-square-metre warehouse/office space in a commercial complex at Helensvale on the Gold Coast. The company has taken up a tenancy at 3/178 Siganto Drive in a deal negotiated by Steve Macgregor of Ray White Commercial Southport. The Rocket Signtists have secured a three-year lease on the property. 

 


The net annual rent per square metre plus GST that national travel retail chain Newslink Pty Ltd will pay to lease a 1,368-square-metre office/warehouse in Rosebery. The 6-10 Durdans Avenue property features a modern industrial high-clearance warehouse, mezzanine offices, air-conditioning and an extra-wide container-height door.  The deal was negotiated by CBRE’s Mark Silva and Nathan Egan on behalf of Hamlove Pty Ltd. Newslink has taken a five-year lease. Durdans Avenue is located approximately six kilometres from the Sydney CBD and is situated close to the intersection of Botany and Gardeners roads.

 


The annual rent per square metre that architectural timber and composite panelling manufacturer Ultraflex Pty Ltd will pay to lease a 999.5-square-metre industrial unit in Silverwater’s Slough Business Park. Located at the corner of Holker Street and Silverwater Road, the unit comprises a high-bay warehouse and an office and is situated at the corner of Slough Business Park. The lease was negotiated by CBRE’s Michael O’Neill and Shaun Timbrell on behalf of Goodman Property Services (Australia) Pty Ltd. Ultraflex has taken a four-year lease. Silverwater is located approximately 20 kilometres west of the Sydney CBD.

 


 

How much Coda restaurant will pay to lease 350 square metres of space at Level 1, 96 Flinders Lane in the Melbourne CBD. The deal was negotiated by Ben Tremellen, Colliers International Manager for retail leasing, who said food and beverage sites were hot property in the CBD. Accessed via AC/DC Lane, the site would be home to a new venture from the team behind Coda, with details to be announced in the coming months.

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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