Untapped Potential – Mixed Use Site For Sale in Kensington
Posted on Oct 07, 2011 by Ben Evans.
GrayJohnson has been appointed to auction a unique mixed use development site in the heart of Kensington on Thursday 10th November @ 12 noon on-site.
51-61 Hardiman Street, Kensington has a land area of 1,017 sqm approx with three street frontages.
It boasts a wide frontage to Hardiman Street of 50 metres.
The site is strategically located close to specialty retail and in close proximity to Kensington rail station.
The property is currently being utilised as a food factory and is leased to ISS Catering at an annual rental of $85,000 pa Net. The building area is 715 sqm aprox.
The area has undergone extensive redevelopment and we expect strong demand from sophisticated residential developers and owner-occupiers.
We are expecting in the vicinity of $2,100,000 – $2,200,000 + GST.
For further details, please contact Ben Evans on 0403 427 678 or Matt Hoath on 0418 543 714.
Brand New Retail Development Fully-Leased
Posted on Aug 19, 2011 by Ben Evans.
A new retail development at 305 High Street, Ashburton on the corner with Carool Road and adjacent to the Ashburton railway station is now fully leased. Designed by leading architects, Ascui Edwards, the property consists of five prominent retail tenancies ranging from 113 sqm – 140 sqm approx.
The largest tenancy known as Shop 5 on the corner with Carool Road has been leased for $480 a sqm on a five year plus five year option basis to Every Battery, a retailer of batteries, chargers and solar panels.
The lease has a commencing annual rental of $68,160 net.
Shop 1 of 113 sqm has been leased to St Vincent’s Pathology, a unit of St Vincent’s Hospital, to establish a new pathology laboratory service.
The lease is for five years with a further five year option at a commencing net annual rental of $50,850.
Shop 2 in the development of 116 sqm has been leased to Audio Clinic, part of a national hearing testing group, at a commencing net annual rental of $50,000 on a five year plus five year option basis.
Shop 3 of 116 sqm is leased to Lily Infusion Weddings, a bridal boutique and wedding planner on a three year lease with two further three year options, also at a commencing net annual rental of $50,000.
Shop 4 of 116 sqm is leased to an up-market cafe operator trading as The Oak Room on a six year plus six year lease basis with a commencing annual rental of $50,000.
The total annual rental from all five leasings exceeds $269,000 pa Net with fixed annual increases.
For further details, please contact Padraic Ryan or Ben Evans.
Brand New Offices in Docklands Leased to Ricosys
Posted on Jul 11, 2011 by Ben Evans.
Ricosys, a leading IT system provider, has secured 300 sqm on the third floor of a cutting-edge 4-level office building at 81 Lorimer Street, Docklands.
The building consists of 4,280 sqm approximately plus on-grade and undercover carparking.
It was built by Dzine for Boutique Homes, a prominent WA builder, who occupies the first two levels. Boutique Homes is part of the ABN Group, judged as Australia’s largest residential builder.
Ricosys has signed a three-year lease at an initial rental of $77,400 pa + outgoings. The remaining office areas available are from 200 sqm on the third floor and the top level.
For more details, please contact: Ben Evans 0403 427 678 or Rory White 0439 655 504
Modern Office/Warehouse in Preston Sells to Private Superfund
Posted on May 02, 2011 by Ben Evans.
GrayJohnson has sold a well-presented office/warehouse offmarket on a sharp yield of 6.4%.
The property consists of a two-level tilt slab industrial building of 220 sqm approx. It provides a compact office component (over two levels) and a high clearance warehouse. It also has the added advantage of four (4) off street carparks.
Walker Filtration currently occupies the building at an annual rental of $38,000 pa + outgoings.
For more details regarding this sale negotiation, please contact: Ben Evans or Matt Hoath on 9654 3022
High Calibre Offices in Balwyn Leased to CVT Global
Posted on Apr 11, 2011 by Ben Evans.
GrayJohnson has negotiated a lease for the whole upper floor of 59 Whitehorse Road, Balwyn.
The property has been recently refurbished and consists of a contemporary office space with a combination of open plan and private offices.
The incoming tenant is a high profile IT company.
The lease is for five years plus a five-year term at a rental of $60,000 pa + outgoings. This represents $250 psm net.
The commercial office market continues to outperform other sectors. We expect this trend will continue as quality stock is in strong demand and medium to large businesses are now looking to expand and capitalise on a recovering economic climate.
Modern Port Melbourne Industrial Facility Leased to Piling Systems
Posted on Mar 30, 2011 by Ben Evans.
Piling Systems a leading designer, manufacturer and installer of foundation support systems for the building and construction industry has leased an office warehouse positioned at Unit 2, 365 Plummer Street, Port Melbourne.
The building forms part of a boutique industrial estate developed approximately 8 years ago. The building comprises of 1,010 sqm approximately, with a small elevated office component.
The lease is for three years plus a three year option at a net annual rental of $140,000.
The lease provides 5% annual increases and a review to market at the option exercise.
The property also boasts abundant off street parking on the site for eighteen (18) cars.
GrayJohnson negotiated minimal rental incentives, which demonstrates strong demand for quality industrial leasehold property in excess of 1,000 sqm.
Strong Demand for Quality Offices in the Inner East
Posted on Feb 02, 2011 by Ben Evans.
IT company, Brave Energy Systems, is relocating to a cutting edge office warehouse positioned at 17 Carroll Crescent, Glen Iris.
Brave Energy has leased a 735 sqm office warehouse at a commencing rental of $178,000 pa Net.
The property is part of a unique development, which was constructed by Leda Constructions 3 years ago.
This leasing transaction demonstrates the inner eastern market is still in strong demand – more especially, buildings in excess of 500 sqm approximately.
For more information about this leasing transaction, please contact Matt Hoath on 0418 543 714 or Ben Evans on 0403 427 678.
High Profile Retail Investment for Sale
Posted on Dec 20, 2010 by Ben Evans.
GrayJohnson has been appointed to sell a prominent retail investment at 85-87 Burwood Road & 10 Elgin Place, Hawthorn.
The property is located on the northern side of Burwood Road, being 4.5 kms east of Melbourne CBD.
The property consists of two retail shops (plus dwellings) and a substantial stand alone studio office, which is utilised as a recording studio. It is positioned on a generous site of 450m2 approximately.
The total combined income is $111,000 pa + outgoings & GST.
Importantly, the site holds a Business 1 zoning, which permits a wide variety of uses (STPA).
The immediate area has seen recent significant development of various corporate office buildings; namely, Sero at 108 Power Street, Vantage at 109 Burwood Road and Stantins at 58 Burwood Road; a mixed-use development designed by RotheLowman Architects.
This represents a rare opportunity to purchase a prime retail investment for sale in Hawthorn.
The price expectation is in the vicinity of $2.2 million.
Click on the link for more details or contact Ben Evans on 0403 427 678 or bevans@grayjohnson.com.au.
Landmark Heidelberg Industrial Property For Sale
Posted on Sep 01, 2010 by Ben Evans.
A substantial industrial building located at 122-134 Dougharty Road, West Heidelberg is being offered for sale by Expressions of Interest, closing on Wednesday October 6 at 4 pm.
The property was previously occupied by sock and hosiery manufacturer Scallywags Industries.
The property has a building area of 6,600 sqm on a site of 7,400 sqm with three extensive street frontages to Dougharty Road of 88 metres and also to Korong and Mologa Roads.
The complex with an Industrial 3 zoning has a mix of older and newer style buildings, which could be occupied as a whole or subdivided into smaller areas.
There is a separate secure undercover parking area with room for seventy six (76) vehicles plus carparking at the front of the property.
The property offers concrete floors, multiple roller door access points with loading docks and three phase power.
This represents a unique opportunity to purchase a high standard Industrial facility in the heart of Heidelberg.
We are anticipating interest in excess of $3.6 million.
Contact: Matt Hoath on 0418 543 714 or Ben Evans on 0403 427 678.
For further details, please click on the link below:
North Melbourne’s Brilliant Combination of Office and Residential for Auction
Posted on Jun 07, 2010 by Ben Evans.
52-54 Lothian Street, North Melbourne
A growing number of small to medium sized businesses are in search of contemporary office accommodation with a difference especially within the city fringe.
52-54 Lothian Street, North Melbourne consists of a sophisticated fully fitted office, plus a stunning 2-bedroom apartment. It has been fully architecturally designed by Neil Idle Architects, boasting lofty ceilings and excellent natural light throughout.
Located on the fringe of the CBD, with easy access to the Errol Street shopping area and barely one kilometre from the Queen Victoria Market, the property has a total area of 363 sqm.
With its own street entry the ground floor offers 228 sqm of largely open plan office area, which incorporates quality in-built workstations, innovative boardroom and abundant storage/carparking.
While upstairs, also with a separate street entry, is a stunningly fitted out apartment comprising two bedrooms, study, open plan living area and an entertainer’s kitchen.
There is also a large outdoor living deck area at the front of 50 sqm approximately.
The office space is considered as ideal for up to ten people and would suit a diversity of business operations, while the CEO or staff can reside very comfortably upstairs, or alternatively the residential space could be leased out to provide an investment return.
With its ideal location between Queensberry and Arden Streets and proximity to the CBD and especially the major Hospitals precinct nearby there is anticipation for strong professional business interest in this property and market expectation is for offers above $1.5 million.
There are an extra two car parking spaces on an adjoining site about two doors away with laneway access and these are included in the sale.
There are impeccable finishes in both building areas and a range of use options which make this a brilliant office and stunning residential package that will appeal to a wide variety of businesses.
There are also public transport options nearby including North Melbourne train station and ready CityLink access via Dynon Road.
The property is to be auctioned on Thursday 24 June at 12 noon on-site.