Student accommodation provider OziHouse has leased North Melbourne property

Student accommodation provider OziHouse has added another property to its portfolio after leasing the 22-apartment student accommodation at 38-40 Howard Street in North Melbourne for seven years.

The 720-square-metre property offers kitchen and laundry facilities, a communal lounge and roof top BBQ area. It is close to the University of Melbourne and is fully occupied.

OziHouse has agreed to a net annual rent of $255,000 with a private landlord through ICR Property Group’s Raff De Luise & Julian Materia.

Large format reign supreme

Pets Domain has opened another store in Mildura, Victoria, following the eight-year lease of a 1152-square-metre showroom at the Mildura Homemaker Centre, with landlord MPG Funds Management.

Rents are confidential but indicative gross annual rents in the area are about $80 to $140 a square metre.

Other tenants in the centre include Fantastic Furniture, Amart Sports and Chemist Warehouse.

CBRE’s Tom Perkins and Chris Parry brokered the deal.

Same in Adelaide

Wood heating expert Horizon Leisure is the newest retailer to join the line up at Mount Barker Homemaker Centre in Adelaide after taking out a five-year lease on a new 503-square-metre showroom.

This is an expansion for the company.

The property at 6 Dutton Road also houses Harvey Norman, Spotlight and Autobarn.

Rents are confidential but indicative net annual rents in the centre are about $170 to $270 a square metre.

CBRE’s Dallas Sears marketed the property.

VIMG leases

Property group VIMG has leased a 142-square-metre retail space at 137 Bourke Street, Melbourne, to real estate agency Jinding Real Estate for seven years with options.

Jinding will use the shop as a CBD branch and to display their residential projects, paying a gross annual rent of $222,000.

CBRE’s Zelman Ainsworth, Samantha Hunt and Tan Thach handled discussions.

Filled at last

Norfolk Pacific Pty Ltd has filled the ground floor office of the National Press Club Building at 16 National Circuit in Barton, Canberra – vacant for three years – with tenants Licensed Clubs Association of the ACT and one other private tenant.

ACT Clubs wanted a change and has taken up 96 square metres. The private tenant has leased the 78 square metres space to gain a foothold in the parliamentary triangle. Lease terms for the tenants are three and five years respectively.

Rents are confidential but gross annual rents in the building are about $380 a square metre.

Colliers International’s Aaron Bruce inked the deal

Woolloongabba wheels

Four-wheel-drive accessories business All American Wheeling has found new premises for its business at Woolloongabba in Brisbane after signing a four-year lease with options for a 400-square-metre office/warehouse at 25 Burke Street.

The property has three-phase power and a container-height roller door.

Ray White’s Jack Gwyn and Jared Doyle struck the deal at a net annual rent of $48,000.

Rug race

A hand-made rug retailer has relocated to a 150-square-metre retail/showroom space at 1032 Main Street in Melbourne’s Eltham at a net annual rent of $50,000. The private landlord used Fitzroys’ Dean Alexander.

Restaurant special

Melbourne restaurateur Joerge Meelky has agreed terms on a new 10-year lease for his High Society Café at 1102 High Street, Armadale, in Melbourne.

The two-level property has a three-bedroom dwelling on the first floor and a 90-square-metre ground floor retail space. It includes rear access and on-site car spaces.

Teska Carson’s Barry Novy closed the deal on a gross annual rent of $750 a square metre for a Melbourne-based private investor.

Sydney office bonanza

Time2 Travel Agency Pty Limited has committed to a five-year lease for a 182-square-metre, two-level commercial terrace office at 326 Victoria Street, Darlinghurst, in Sydney after moving from serviced offices.

The company will pay a gross annual rent of $75,000 for the property with rear parking to landlord Froozo Pty Ltd.

In Eveleigh, Centuria ATP Fund has leased out a 30-square-metre, ground-floor suite at the International Business Centre building at 2 Cornwallis Street to Heyday5 Pty Ltd.

The gross annual rent is $21,000 for 20 months.

In the CBD, WAIV International Pty Ltd will move to a 98-square-metre whole-floor office at level 2, 205 Clarence Street, signing a two-year lease with options on a gross annual rent of $61,000.

WAIV relocated from a shared space and needed a creative office.

Kalamata Holdings Pty Ltd is the landlord.

Ray White’s John Skufris brokered all three deals.

Bonanza continues

Software specialist Hotschedules will relocate its Sydney headquarters to the CBD after signing a new five-year lease on a fitted-out 270-square-metre office at 1 Castlereagh Street.

Rents are confidential but gross annual rents in the area are about $1050 to $1100 a square metre.

SU-LIN TAN | FINANCIAL REVIEW | July 17, 2017

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