Commercial leasing: Gelato operator Gelatissimo leases in Toowoomba
The estimated annual rent hat Italian gelato operators Gelatissimo will pay to lease 89 square metres of premium retail space in Toowoomba’s central business district on a five-year deal. Gelatissimo has leased the former ‘Amazing Loans’ site on the prominent city corner of Ruthven and Margaret streets in a deal negotiated by Ray White Commercial Toowoomba’s Mark Wynhoven and John Smith. Gelatissimo is spending $400,000 on renovating the site to cater for its new business. Gelatissimo dates back to the 1980s in Sydney, where the franchise began, and has it since then has grown to be one of the largest gelato franchises in the world, with established operators in south-east Asia, the Middle East and Italy.
The initial gross rentals per square metre per annum that two tenants will pay to lease space a National Trust-classified, boutique building at the northern end of the Sydney CBD. The remaining whole floors at 1 Barrack Street have now been fully leased in deals negotiated by Ray White Commercial office leasing directors John Skufris and Anthony Harris. Online advertising business Tribal Fusion has secured a 196-square-metre tenancy, and recruitment specialist Vantage Recruitment will occupy 200 square metres at level two. Both leases are on three-year terms. The three-storey building previously had media relations project group Cannings Corporate Communications as its major tenant.
The annual net annual rental plus outgoings that products and services supplier to utility and energy organisations Utility Asset Management will pay on a sub-lease on Pellicano’s M2 Estate at Dandenong in Melbourne’s south-east. The 2 National Drive property comprises a 5,850-square-metre, office and warehouse building that had been purpose built for lessor Irwin Industrial Tools, which had decided to outsource its warehousing requirement. The leasing deal was negotiated by Savills director Lynton Williams.
The annual rent per square metre industry sources estimate Gold Coast business Wear Parts Australia will pay to lease 1,961-square-metre standalone industrial building at 20 Barnett Place in Molendinar on the Gold Coast. The five-year lease deal with a five-year option was negotiated by Pat Cavanagh of Colliers International. Wear Parts Australia has links to the mining industry, supplying component parts for large earthmoving equipment around Australia.
The annual rent that Melbourne-based All Vehicle Accessories will pay to lease an 820-square-metre warehouse at 20a Lathe Street, Virginia, north of Brisbane The space has been leased for three years, with the deal negotiated by Steve Black from Ray White Commercial Pine Rivers.
The gross annual rent that Micron Mining Components will pay to lease 1/33 Industry Court, Eagle Farm, Brisbane. The three-year lease was negotiated by Daniel Wilson of Ray White Industrial Milton.