Commercial leasing: Outdoor store Anaconda rents bulky goods space in Geelong
The estimated gross face rent that Coty Australia, the global cosmetics and fragrance importer/distributor will pay to lease a 300-square-metre office space at 7 Howard Street, Richmond in a three-year deal negotiated by Leah Baxter of Colliers International. Coty Australia is set to relocate from former suburban premises. The company will occupy level 1 in a new, architect-designed building.
The rumoured annual rent that equipment hire firm Shore Hire to lease industrial space at 19 Chambers Road, Altona, in a deal negotiated by Nathan Bingham and Stephen Newsham of Colliers International. The length of the lease is five years and covers a 10,000-square-metre land area. Shore Hire was bought out by publicly listed group Coates Hire close to three years ago. “This deal underpins the significant operating base of the company in the key eastern seaboard cities of Brisbane, Sydney and Melbourne,” says Bingham. The property is owned by the Bradica Group.
The estimated net annual rental per square metre – based on current rents achieved in the centre – that outdoor products retailer Anaconda will pay to lease a 2,200-square-metre showroom in Hoppers Crossing. Located in the Hoppers Crossing retail bulky goods precinct at 319 Old Geelong Road, the store recently underwent significant refurbishments, updating the space into a quality showroom. The deal was negotiated by CBRE’s Scott Littler on behalf of a private lessor, with Anaconda taking a 10-year lease. Littler says Hoppers Crossing remained one of the most tightly held bulky goods precincts in the state, with CBRE negotiating several leases in the area recently, including a 1,374-square-metre showroom at 269 Old Geelong Road to Focus on Furniture. Hoppers Crossing is located approximately 25 kilometres west of the Melbourne CBD.
The net annual rent that Premium Showers & Wardrobes will pay to lease a 13,750-square-metre manufacturing facility at 2-8 Oxford Road in Laverton North. This is the largest industrial lease to a manufacturer in more than three years in Melbourne’s west has been facilitated by Colliers International agents Nathan Bingham and Stephen Newsham. Premium Showers & Wardrobes, a major manufacturer and supplier of shower screens mirrors, wardrobes, cabinets and joinery to the residential and commercial property sectors. “The property was purpose-built for global automotive manufacturer Mahle about eight years ago, but Mahle have since moved their manufacturing base offshore,” says Bingham.