Commercial leasing: Watch this space

The advertised net rent per square metre per annum for office premises at 214 Park Street, South Melbourne, that will be taken up by Antony Catalano’s Metro Media Publishing (MMP) business. Metro Media’s 50% merger with Fairfax Media was approved by the ACCC in May. MMP is the publisher of Melbourne real estate advertising glossy The Weekly Review. There was 1,210 square metres of space available for lease in the two-storey free-standing building, with the lease negotiated by Paul O'Sullivan and Richard Curtain from Lemon Baxter South Melbourne.

The estimated gross face rent per square metre per annuam that Discount Vitamin Warehouse will pay to lease 93 square metres of retail space at 321a Chapel Street in Prahran, Melbourne.  The lease was negotiated by Mike Crittenden, Colliers International Executive for retail leasing. “We are noticing a shift from tenants to secure space in the Prahran/Windsor precinct, due to the type of shopper in the area and also the competitive rentals, rather than the South Yarra end, which historically has demanded higher rentals,” Crittenden says.

The initial gross rental of per square metre per annum that Rendezvous Hotels will pay to lease 287 square metres of office space at level six at 23 O'Connell Street in the Sydney CBD. The group is part of The Straits Trading Company Limited of Singapore. The leasing transaction at the former Permanent Trustee building was completed on behalf of owner Accord Pacific Resorts Pty Ltd by Ray White Commercial Office leasing directors John Skufris and Anthony Harris. Rendezvous Hotels has taken up a five-year lease. 

The commencing rent per square metre per annum that an unnamed international A-grade tenant will pay in a pre-commitment deal for 4,540 square metres of office space at levels 1 and 2 at Botanicca 8, within the Botanicca Corporate Park in Richmond, Melbourne. The lease was negotiated by Rob Joyes from Colliers International. The eight-year lease was negotiated on behalf of joint venture partners Pacific Group of Companies and Icon Developments. Peter Evans, Colliers International national director of corporate solutions, acted for the tenant in the negotiations. The new building will be completed by November 2013. Botanicca 8 is part of Botanicca Corporate Park at 576 Swan Street, Richmond offering more than 8,300 square metres of A-grade office space over four levels. 

The estimated annual rental per square metre that Melbourne Martial Arts company XFC Training will pay to lease a new facility at Bayswater in Melbourne’s eastern suburbs in a deal negotiated by Savills Australia. Located in the Bayswater Business Park, the Lot 31 Corporate Boulevard, facility comprises a 1,000 square metre building, which was specifically designed and built to suit the tenant’s requirements. Savills Adrian Smith, who brokered the deal, said the company had taken a five year lease with two, five year options.  The lessor was a local developer.

Negotiated a new lease? Send an email to us with the details and we will publish it our next edition of our commercial leasing ladder.