Camberwell still takes the cake for big bakery business
Bakers Delight has agreed terms to stay another 10 years at its long-term address in Camberwell, east of Melbourne.
The business has occupied the 1950-square-metre office at 293 Camberwell Road for 12 years. JLL’s Josh Tebb negotiated the new deal at a net rate of $400 per square metre.
A recent upgrade to the Camberwell Junction office building includes a new lobby and end-of-trip facilities.
“After running an on-market process to find a suitable location for the long term, Bakers Delight have opted to alter their existing configuration within the building and commit for a further 10 years,” Mr Tebb said.
“I understand they will undertake a significant refurbishment of the space moving forward.”
Awning and wonder
Emerald Carrying has leased a 3954-square-metre transport and logistics facility in the Brisbane riverside suburb of Lytton from Sword Property Investments.
Savills Australia’s Shaw Harrison, who negotiated the 10-year agreement, said the tenant was amalgamating multiple sites and expanding its bulk oil and petroleum industry operations.
The deal for 72 Trade Street is valued at $495,000 per year. The 1.5-hectare site includes a high-bay warehouse and workshop with truck wash bay, air lines and compressor, recessed truck service pits and an awning spanning 26 metres.
“The site was ideal for [Emerald’s] use as it allowed the storage of their prime movers and trailers and offers an enormous awning with a couple of minor tweaks to customise the site for their use,” Mr Harrison said.
A bigger bite
MP Orthodontics has relocated its practice at Cheltenham in Melbourne’s bayside to the property next door.
Colliers International’s Damien Adkins and Tom Rothel negotiated the eight-year lease for 4-10 Jamieson Street for lessor Henkell Brothers.
The net rental for the 315-square-metre office space, previously occupied by MIND Australia, is circa $340 per square metre.
The orthodontic group jumped at the opportunity to upgrade its premises to a more prominent building, according to the agents.
Mr Adkins said the deal was part of a flight-to-quality trend throughout the metropolitan market.
Current address
Electric transmission and distribution company Quanta Lines Pty Ltd has agreed to a five-year lease at Seven Hills in north-west Sydney.
CBRE’s Brendan Wein and Matthew Alessi negotiated the deal for for Building G/22 Powers Road in conjunction with Ford Land’s Mark Wylie.
The net rate is $165 per square metre, with an additional three-year option.
“The main attraction for the tenant was the size of the warehouse and yard space that they will utilise to store their machinery and trucks,” Mr Wein said.
The 2939-square-metre freestanding office-warehouse has a 2345-square-metre rear yard, wash bay, flammable goods room, high power supply, four roller doors and two gantry cranes.
Boxing clever
Employment provider Max Solutions has decided to stay in Box Hill and lease space in the landmark former Centrelink building for its new offices.
Fitzroys’ Stephen Land managed negotiations for 14-16 Prospect Street on behalf of an offshore investor. The deal is considered is a strong sign of confidence in the eastern Melbourne suburb.
The two-year lease with options for the 192-square-metre tenancy on part of level one was struck at $84,500 per annum.
The four-level, 3200-square-metre building is now close to full occupancy.
Furniture delivers
Nan Electrical Cable Australia has sub-leased a 3970-square-metre warehouse with office space in Lidcombe to a furniture importer.
Colliers International’s Phillip Bradac and Tony Durante negotiated the two-year lease deal at 6 Carter Street, in Sydney’s west. The new tenant is a supplier to retailers across Australia and New Zealand.
The rental was not disclosed however comparable rates in the area range from $125 to $145 per square metre.
