First State Super takes over NAB Forest Hill space

The superannuation fund, First State Super, has agreed terms on a new lease at Forest Hill in Melbourne’s eastern suburbs in a deal brokered by Savills Australia.

Located within the Brentford Square shopping centre at 502 Canterbury Road, First State will take over the 277 square metre tenancy vacated by NAB which had held the lease for more than 20 years.

Savills’ Victorian retail director, Michael Di Carlo negotiated the deal with Jeremy Marmur and Jock Thomson.

First State is believed to have agreed on a rental equating to more than $150,000 per annum on a five year term.

Mr Di Carlo said First State had been in the market for a property which provided exceptional exposure to both main street frontage and to a well-established retail precinct.

The lessor is a Melbourne based investor.