Warehouse

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Three storeys up above a New York style converted warehouse in Melbourne's Fitzroy is a 120 sqm leafy rooftop oasis.
It was passed in at weekend auction.
<a href="https://www.realestate.com.au/property-house-vic-fitzroy-123538506" target="_blank">The penthouse</a> master retreat with dressing room spills out onto a garden with sheltered dining space.
Complete with a shaded Balinese daybed and luxury six person, Hotsprings spa, the private paradise offers views across the Melbourne cityscape.
An automated sprinkler system and 5,000 litre rainwater-fed tank ensure the garden is low maintenance and automatic Vergola with rain sensor means the outdoor space is useable come rain or shine. 
Renovated by award winning architect Robert Simeoni, the five bedroom freestanding home is being offered to the market between $3 million and $3.33 million through Unique Estates agents Janine Lum and Nicolette van Wijngaarden.
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Inner city rooftop garden offering fails to sell

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As the scaffolding comes down from St Kilda's Gatwick Hotel, the location of this year's series of The Block, its executive producer Julian Cress can focus all his attention on the nearing airing of the show.
He's finally found a buyer for his redundant Annandale warehouse which he inherited from his late father, the Archibald award-winning artist Fred Cress.
The property space failed to sell at its March McGrath auction when it had a guide of $4 million after being listed in February.
It then went up with a guide of $4.5 million, selling 77 days into its marketing campaign to a Potts Point couple.
Fred Cress had used the Johnstone Lane warehouse as his creative studio.
Julian commissioned architect Julian Brenchley and designer Darren Palmer to undertake the recent conversion which was recognised with the 2015 MBA's Excellence in Housing Award.
He and wife Sarah have been based in Albert Park after The Block became more permanently based in Melbourne.
Cress became critical of Sydney council approvals in his pursuit of development sites for the Channel 9 show.
He has been executive producer of the hit show since its first series in 2003 where they renovated a block of apartments in Bondi.
Set at the end of a laneway, the home has four bedrooms, three bathrooms and a ground floor gallery.
The warehouse features polished concrete, exposed brick and soaring ceilings, interlaced with exposed steel and timber trusses.
There's an open plan upper level integrated with a private rooftop terrace.
The prior to-price for a converted warehouse in Annandale sat with the $3.7 million paid last June by fellow artist Jonathan Newton, the son of Britain’s Gravity Media Group boss John Newton.
 
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Julian Cress finally sells his dad's Annandale warehouse

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Award-winning artist Nigel Sense and his wife, the designer, Monica Lawrie secured $1.31 million for their Marrickville warehouse conversion.
McGrath Inner West agent Adrian Tsavalas had eight bidders register, but first time buyers secured the property against strong underbidder investor bidding.
The buyers will operate her business, Studio Chen Chen, from the downstairs shop.
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There was a $1.2 million reserve price. 
They'd completely renovated and extended the property since paying $380,000 in 2010.
The old store front is now Sense's studio.
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It had a $1.15 million guide through McGrath inner west agent Adrian Tsavalas, who sold the property eight years ago. 
<a href="https://www.realestate.com.au/sold/property-house-nsw-marrickville-127960882" target="_blank">Marketed as a residential and commercial property</a>, the two level residence has two bedrooms, two bathrooms and a rear entertaining terrace.
Sense, a graduate from the University of Wollongong, is a neo-expressionist artist and has had his work featured in a number of group exhibitions throughout Australia and Sri Lanka.
He draws inspiration from the American abstract expressionists and pop artists of the 1960s.
 
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Marrickville warehouse conversion sold to shop keeper first home buyers

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A national business has snapped up an industrial warehouse in Maddington, in the City of Gosnells for $3 million (plus GST).   The Davison Street property comprises a total of 7,640 square metres, with 2,761 square metres of building area.
The block is offered easy access to Tonkin, Roe and Albany Highways.
The property was listed by Ray White Commercial (WA) Sales and Leasing Agent Josh Sumner.    Mr Sumner said Maddington was traditionally a transport hub but it was hard to find an asset available of this stature.   “The property also appealed because it was a secure green title lot that’s set in the heart of the Maddington industrial precinct.
Other features included warehouse, office and amenities, canopy, five-ton gantry crane, 12 loading docks and security cameras. The asset also came with 15 roller doors, dual cross overs, container laydown area, ample power, three-phase power and transmitter aerials for communication.
It previously sold in 1988 for $475,000.
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National business purchases Maddington warehouse for $3 million

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The growth area in commercial building remains warehouses.
Approvals to build new warehouses are up 39 per cent over the last year and near record highs.
More warehouses are being built to support the online spending sector. 
Overall, commercial building is booming – just below record highs.
Over the year to March, building approvals totalled $117.09 billion, 15.8 per cent above the decade average.
The value of all commercial and residential building approvals fell by 6.5 per cent in March after rising 3.3 per cent in February.
Residential approvals fell by 5.9 per cent with new building down by 7.2 per cent, but alterations &amp; additions were up by 3.3 per cent. And commercial building fell by 7.3 per cent.
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Warehouse building boom carrying commercial property sector: CommSec

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The US indoor sports firm, Cue Time Pty Ltd, has agreed terms on a new office and warehouse lease at Clayton South in Melbourne’s south-eastern suburbs.
The lease deal was brokered by Savills Australia.
The 1/86-102 Whiteside Road property, speculatively built by Virtus Property Group, comprises a 2032 square metre industrial facility including a 1632 square metre warehouse and 400 square metres of office space.
Savills Associate Director, Daniel Kelly brokered the deal on a ten year term at $190,000 per annum net.
The facility would be used as a sporting complex for badminton, table tennis and other sports.
The tenant was attracted to the location next door to a trampoline centre, given potential business synergies, while the high ceilings, the quality of the build, and availability of on-site parking were other factors. 
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Cue Time take Clayton South lease

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Australand has secured CEVA Logistics at its West Park Industrial Estate, recently commencing construction of a new 90,000 sqm campus-style warehouse and office facility for the world leading supply chain company. 
The Ceva Logistics deal – one of the largest in Australia in years – takes the total industrial space transacted by Australand in Melbourne over the last six months to around 200,000 sqm, equating to approximately $200 million in value.
The new facility will be the centrepiece of CEVA’s growth plans in Australia and New Zealand once completed in mid 2016. It will have an end value of over $80 million and CEVA has committed to an initial 10 year lease over the site.
Anthony Maugeri, Australand General Manager – Southern Region, said the CEVA deal caps a period of intense industrial activity in Australand’s Melbourne estates.
“We have secured a number of significant deals with some of Australia’s largest industrial occupiers in Melbourne recently, at a time when there’s a relative shortage of good quality industrial space readily available,” Mr Maugeri said.
“It is encouraging to see demand remain resilient given the current economic environment and the shortage of quality industrial facilities available at short notice, particularly in west Melbourne, has supported strong activity in our estates.
“The strategic location of West Park, our capacity to deliver and our longstanding strong relationship with CEVA were the core ingredients in converting this project.”
As the largest CEVA facility in Australia, the new office and warehouse will enable CEVA customers to benefit from excellent access to Melbourne’s road and rail network, the Port of Melbourne and Melbourne International Airport.
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CEVA’s commitment represents the culmination of an active few months for Australand and the West Park estate, where Australand has just converted a 14,330 sqm speculative facility for long term customer Schenker in a deal valued at $14.3 million. 
“We will continue to employ our speculative strategy where it makes sense to do so, as we have the unique benefit of an industrial land bank focused in Melbourne’s key industrial sub-markets,” Mr Maugeri said. 
“However we have noticed the pre-lease market beginning to unlock again, which is positive news. There are signs that leasing activity is picking up and occupiers are willing and able to forecast their accommodation needs out a bit further. 
“Evidence of this is securing major pre-leases to Miele, Austrans and MaxiPARTS in recent times.” 
The 15,000 sqm Miele pre-lease at The Key was secured in a deal valued at $17 million, based on the facility’s estimated end value. At West Park, the Austrans pre- lease was for 14,570 sqm ($14.6 million) and the MaxiPARTS facility covers 12,505 sqm ($12 million). 
Other recent deals include the Ive Group Australia’s commitment to a 6,789 sqm facility developed speculatively at The Key. 
Australand has also recently completed the development of its Access Altona estate in Melbourne, having executed deals with Godfreys for 12,333 sqm and Cosmic for 9,077 sqm. The facilities for Godfreys and Cosmic, valued at $12.4 million and $8.5 million respectively, were further examples of Australand’s speculative development strategy paying dividends. 
Sean McMahon, Australand's Executive General Manager - Commercial &amp; Industrial, said the Melbourne industrial market remains the most affordable market in Australia, 20-30% cheaper than the other capital cities. 
“The relative affordability of quality industrial space in Melbourne continues to attract a broad array of international logistics and domestic industrial occupiers alike,” Mr McMahon said. 
“Incentives do remain elevated, as is the case with most markets, however they should stabilise over time as economic and demand conditions gradually improve. 
“We have a strong market position in Melbourne particularly focused in the west and south east, and we are well positioned with our land banks to convert new demand as it emerges. We are currently servicing a further 40 hectares in these key markets to ensure we provide speed to market for new transactions. 
“We are very focused on our market leadership position in the sustainability space and we have committed to a 6 star Green Star rating for the new campus-style facility for CEVA."  
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CEVA Logistics for Australand West Park Industrial

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Print communications business Blue Star Group will consolidate three Melbourne offices to a single warehouse after signing a long term lease in the Melbourne south-eastern suburb of Keysborough. 
The property, 70-86 Atlantic Drive, is part of Australand's Key Industrial Estate and was let on a long term lease of what is believed to be around $90 per square metre.
Savills Associate Director, Daniel Kelly, said access for staff was an important consideration for Blue Star Group when signing the lease.
"The tenant was in the market for a property which ticked all the boxes for a national manufacturing and distribution firm with a focus on ease of transport solutions and with the flexibility to grow the operation," Mr Kelly said.
"They were also attracted to the modern high-bay warehouse, on-grade loading and docks and ease of access to the CBD, docks and interstate via Melbourne’s freeway network."
The office and warehouse comprises a 6789 square metres. The high bay warehouse is 6452 square metres with the office space  sized 337square metres.
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Australand warehouse let to Blue Star Group

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A former Clifton Hill shoe factory, converted by award-winning architect Suzanne Dance with later design by Techne Architects, was sold at $1.63 million at weekend auction.
It features two living zones separated by garden oasis with decking at 63 Dally Street.
<img src="https://i1.au.reastatic.net/456x342/f23f8d8124aaf7b46cd1123de28e13182b4923c952d236304b55b8b4ac1e3689/main.jpg" alt="63 Dally Street, Clifton Hill" title="63 Dally Street, Clifton Hill" data-index="0">
There is the main bedroom/retreat plus three further bedrooms, loft study, three bathrooms, large laundry and a ROW-access garage/workshop with cellar on its 280 square metre block.
<a href="https://www.realestateview.com.au/Real-Estate/63-dally-street-clifton-hill/Property-Details-buy-residential-8767112" target="_blank">Nelson Alexander</a> were saying $1.45 million to $1.6 million.
It last sold in 2008 at $1.2 million.
 
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Clifton Hill shoe factory conversion sold

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A spacious Richmond warehouse conversion sold at weekend auction for $2,225,000.
The conversion reportedly sold by aerial skier and former politician Kirstie Marshall.
It attracted 15 bidders when <a href="https://www.realestate.com.au/property-house-vic-richmond-120292913" target="_blank">69 Wellington Street</a> sold through Biggin &amp; Scott.
The three-bedroom converted warehouse sold after being declared on the market at $1.9 million. 
Marshall was elected to represent the seat of Forest Hill in the 2002 state election. She lost her seat in 2010, with local residents citing her choice to live in Richmond rather than the electorate as one reason.
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