Three more tenants at 300 Adelaide Street, Brisbane

Karam Boutique Residential and Lockton Companies have taken up 222 square metres and 244 square metres of space at level eight respectively while Aura Wealth has signed up for 155 square metres on level 14. Leases include new fit-outs.

They join four other new tenants who agreed to terms in the last quarter of 2018.

The lease terms range from five to seven years with annual rents ranging between $575 to $600 a square metre.

The building has new end-of-trip facilities and amenities on each level.

Lei Shing Hong purchased the tower from Charter Hall’s Direct Property Fund last year.

Colliers International’s Kelly Moon and Simon Petrie handled the leases.

Zone Q signs another

Property developer Zone Q has secured another tenant, the International College of Communication (ICC), at its Perth CBD office tower at 182 St Georges Terrace.

ICC has signed a three-year lease on a 120.7 square metre office space on level two.

The building, which was purchased by Zone Q in 2018, has undergone significant upgrades, including a new lobby and speculative fit-outs.

CBRE’s Andrew Denny closed the deal at a net annual rent of $395 a square metre. It is understood incentives were offered but they were not disclosed.

Centuria Industrial REIT leases

Centuria Industrial REIT has secured equipment shelters supplier, ICS Industries as a tenant at its industrial estate in Somerton, Melbourne.

ICS has committed to lease the 10,099 square metre Warehouse 1 at 24 Stanley Drive.

Knight Frank’s Marco Sandrin and Brent Glassford negotiated the five-year lease at a net annual rent of $85 per square metre.

Centuria Industrial REIT fund manager Ross Lees says the North Melbourne industrial market will continue to perform well in 2019.

Rust-Oleum expands

Paints and coatings manufacturer Rust-Oleum has leased the last warehouse at the Spooner family’s Caribbean Park business park in Melbourne’s Scoresby.

Rust-Oleum has signed a 10-year lease over a 9260 square metre facility at 8 Lakeview Drive to use as their Australia and New Zealand regional headquarters and as a distribution centre in Victoria.

The property has offices, three loading docks, 99 car spaces, extensive hardstand area and a large canopy.

Rook Salinger’s David Black closed the deal at a net annual asking rent of $82 a square metre with a fitout as an incentive.

Out of space

Freight company NDST has secured bigger premises at 6/205 Abbotts Road in Dandenong South.

The company will pay an annual rent of $82 a square metre for the 470 square metre office and the 3834 square metre warehouse for two years.

Cushman and Wakefield’s Jordie Cassidy and Andrew O’Connell brokered the sub-lease for Bunzl Australia.

More beds

Bedding manufacturer ZZZ Atelier has leased an 860 square metre industrial property at 4 Caulson Close in in Maribyrnong, Melbourne to use as a showroom or a warehouse.