A-grade offices at 20 Bridge Street, Sydney, going at $1150 a square metre
Silicon fertiliser company Agripower Australia has leased a penthouse office space at the 13th level of Exchange House at 20 Bridge Street in the Sydney CBD as its new NSW headquarters.
The company signed a five-year lease term for the 460-square-metre office with private balconies and views towards Circular Quay.
While the rent is confidential, indicative gross annual rents in the area are $1150 a square metre.
CBRE’s Nick Read and Knight Frank’s Ryan Grace brokered the lease.
Owner of 20 Bridge Street, Malaysia’s Kumpulan Wang Persaraan, recently sold the property to a Hong Kong high-net-worth investor for about $330 million.
Wynyard displacement
Legal firm ABK lawyers has leased a 69-square-metre office suite at The Chelsea, a mixed-use residential and commercial building at 110 Sussex Street, Sydney, after being displaced from 301 George Street, part of the Wynyard station redevelopment.
The firm has committed to a gross annual rent of $435 a square metre on a three-year lease term.
Ray White’s Elizabeth Braithwaite executed the deal.
New furniture
Singaporean homewares company Castlery Furniture has committed to an 18-month initial lease over a 1158-square-metre showroom at 110-116 Bourke Road, Alexandria, in inner-south Sydney for its flagship store.
The renovated ground-floor space has polished concrete floors, floor-to-ceiling glass and LED lighting.
Colliers International’s Tony Crane and Knight Frank’s Peta Antoniou negotiated an annual rent of $470 a square metre.
TRIBE takes over
Social media marketing group TRIBE has relocated to a larger office lease at 180 Albert Road in South Melbourne to accommodate an expansion.
The business signed up for a 300-square-metre office at a gross annual rent of $450 a square metre over a five-year term.
The building has undergone refurbishment with new end-of-trip facilities.
Colliers International’s Vincent Tran and Matt Cosgrave and Mulcahy & Co’s Jeremy Lewis and Ann Magee represented a private landlord.
Getting big
Expanding Melbourne business Trident Financial Group has relocated to larger premises in Canterbury after signing a five-year lease for a 486-square-metre office at 21 Shierlaw Avenue.
The net annual rent for the property is about $260 to $290 a square metre.
Colliers International’s Damien Adkins handled negotiations for a private landlord.
Nikos signs IMG
Nikos Property Group has signed up global sport, fashion and media business IMG on a five-year lease for part level eight offices at 580 St Kilda Road, Melbourne, at a net annual rent of about $320 to $360 a square metre.
The 362-square-metre office spaces have been refurbished, Colliers International’s Matt Cosgrave and Ben McKendry said.
Popular Vintage
Long-time Brunswick purveyors of vintage collectables Melbourne Vintage Brunswick has expanded its business, opening a third store at a newly leased two-storey retail shop at 237 Lygon Street, Brunswick, in Melbourne.
The 131-square-metre property will be leased for five years.
ICR Property Group’s Raff De Luise & Julian Materia closed the deal at a net annual rent of $95,000.
Three leases
Furniture business Early Settler has expanded its Queensland footprint, securing three new leases in Ipswich, Townsville and Rockhampton in Queensland.
The Ipswich lease is an 1160-square-metre showroom at the Harvey Norman Centre at 214 Brisbane Road, in Booval. The second outlet is a 1076-square-metre showroom at the Domain Central Townsville, Queensland’s largest homemaker centre, at 103-141 Duckworth Street, Garbutt.
The Rockhampton outlet is at an 860-square-metre showroom at the Red Hill Homemaker Centre, at 414 Yaamba Road.
CBRE’s Andrew Brimson and Damian Crocetti marketed the properties.
Rents and terms on the leases are confidential but it is understood all leases are five years with options, at annual rents of between $200 and $250 a square metre.
