National liquor retailer Thirsty Camel has relocated its Melbourne head office from the city’s northern fringe to 785 Toorak Road. Thirsty Camel took a five-year lease over 221 sq m in a deal negotiated by Colliers International’s Tom Rothel, Damien Adkins and Ash Dean with no vacancy period. Rents in the building are about $380 per sq m net. Another business Health More has joined Thirsty Camel taking a five-year deal over 759 sq m facilitated by Mr Adkins and Mr Dean. Mr Rothel said tenants were upgrading with a strong preference for fitted space to allow for a cost-effective relocation.
Opticomm has leased a 1400 sq m office and warehouse at 18-22 Salmon Street in a deal negotiated by CBRE’s Guy Naselli, Jake George and Ben Quennell. The fibre optic company signed a $280,000 per annum net five-year lease. The premises were formerly occupied by logistics firm DHL which has relocated to the west.
Gale Pacific has committed to a brand new distribution facility at Frasers Property Australia’s Braeside Industrial Estate. The deal, negotiated by Colliers International’s James Stott and Gordon Code, will trigger another 10,643 sq m speculatively built facility. Once fully occupied, the site will have an end value of more than $29 million. Gale will take Warehouse A in Beyer Road. The 9146 sq m facility was leased for five years at a rate understood to be about $90 per sq m. “The move marks a strategic shift for Gale Pacific, allowing them to run a distribution facility near their head office,” Mr Stott said.
A Queensland-based solar company Blue Sun Group has expanded into Victoria, leasing a warehouse at 125 Highbury Road. Crabtrees Real Estate Rodney King brokered a deal for the 330 sq m facility at $57,000 per annum net, equating to a rate of $173 per sq m. “The tenant was attracted to the central location of the warehouse with easy access across the south-east of Melbourne where their market is growing,” Mr King said.
The Reveal Group has leased an office floor on level 3 of a new development at 9-11 Cremorne Street in a deal negotiated by Colliers International’s Chris Meehan and Teska Carson’s Matthew Feld and Luke Bissett. Reveal will pay gross face rent of $700 per sq m on a three-year term. Mr Meehan said inner-fringe locations such as Cremorne were becoming increasingly popular.
Jaybro has leased a 3000 sq m warehouse at 21 Whittaker Street on a three-year lease term at a net annual rental of $132,000. In the heart of the Maidstone industrial precinct, the property has rear access from Ashley Street and is close to Ballarat Road, said Knight Frank’s Steve Jones, Joel Davy and Michael Satterley who brokered the deal.
Two offices/warehouses in the same street have leased through Stan Dawidowski and Jarrod Moran from CVA. A corner 697 sq m high-clearance warehouse with motorised roller doors and 483 sq m of office space at 15-17 Jellico Drive leased for five years at $120,000 per annum net to an engineering consulting company. Another building at 32 Jellico Drive leased for four years at $70,000 per annum net to a window and door supplier.
A butcher operating multiple shops – two in the heart of Clayton Road, one in Brandon Park Shopping Centre and the other in Endeavour Hills Shopping Centre – has leased an office warehouse at 2/126-134 Fairbank Road. Crabtrees Real Estate’s Chris McKenzie and Rodney King brokered a 10-year deal for the 1465 sq m facility at $132,000 per annum net. The pair also brokered another off-market deal for a fully fitted food production facility at 16 Capella Crescent, Moorabbin. That 1491 sq m warehouse was leased by a Chinese sausage company to supply two butcher shops, as well as wholesaling to shops and restaurants across Australia. It leased for $160,000 per annum net on a 5+5 year deal.
Colliers International’s Andrew Chrapot and Harry Larwill have facilitated a two-year lease at 5/1 Garden Road to tech company Multimode following significant interest from a range of prospective tenants. Multimode took the 250 sq m warehouse at 5/1 Garden Road at gross face rent of $130 per sq m over two years.
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Property Editor at The Age and BusinessDay journalist for Fairfax’s theage.com.au, smh.com.au, watoday.com.au and brisbanetimes.com.au.