TV network’s new neighbour finds the perfect blend in South Yarra

14 Sep 2020, 08:03 by Rebecca Holland

A 450sq m open-plan office with a private balcony overlooking Toorak Road has been leased to Damstra Technology.

The software company joins Channel 10, Omnicom Media Group and Digital 360 in the Como Centre at 299 Chapel Street, South Yarra.

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Colliers International's Kevin Tutty, James McMahon and Ash Dean negotiated the five-year deal for the level-three space at a rate of $632 per square metre.

Newmark Capital is the lessor.

“Properties with access to an outdoor area in South Yarra are leasing well,” Mr Tutty said.

Truckie lucky last

The final tenant has rolled into LOGOS' speculatively developed Altona Logistics Estate south-west of Melbourne.

The property group secured Tony Innaimo Transport, a family-owned and operated freight and logistics company which has leased 7300sq m of office-warehouse space at the 30,000sq m industrial facility.

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CBRE’s Tom Murphy, Harry Kalaitzis, Todd Grima and Tom Hayes negotiated the five-year lease over Tenancy C at 44 Marshall Court. The initial net rental is $82 per square metre.

The A-grade property comprises a high-clearance warehouse, two-level corporate-style office, complete drive-around truck access and low site coverage.

Mr Murphy said LOGOS was now focused on securing more tenants for its Truganina Logistics Estate.

Deal of a decade

A 3830sq m industrial building in Sydney's west has been leased to a local manufacturer for 10 years with a 10-year option.

LJ Hooker Commercial's Marcel Elias negotiated the deal for 407 Victoria Street, Wetherill Park, on behalf of Mapletree Logistics Trust.

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The lease is valued at $440,450 per annum net.

Mr Elias said the building became available during a difficult period and ultimately was leased with no downtime to the "prominent" tenant.

Shifting gears

Multinational clutch manufacturer Clutch Industries has leased an 1170sq m office-warehouse in Melbourne's inner north.

CBRE's Jake George and NSL Property Group's Guy Naselli negotiated the lease of five years plus options for 134 and 136-138 Gaffney Street, Coburg North. The lessor is a private family and the annual rate is $120,000 net.

Mr Naselli said the agents had seen a number of inquiries from manufacturing industries capitalising on the growth of the precinct.

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Mr George said: "Infrastructure projects within the northern corridor have also seen Coburg North returning to a place where accessibility to transport and infrastructure meet."

Dojo meets dairy

GKR Karate has kicked up its business expansion with a new dojo in Sydney's northern beaches.

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The club will open at Suite 1A/4-6 Aquatic Drive, Frenchs Forest, a newly renovated 450sq m mezzanine office above a distribution facility for dairy firm Parmalat.

The lease is for five years and the gross rent is $220 per square metre.

CBRE’s Ben Byford managed the deal on behalf of the private landlord.

“GKR Karate inspected the building earlier this year but put its move on hold when COVID-19 hit,” Mr Byford said. “They were able to agree terms as restrictions eased.”

Too tempting

The Gilson restaurant in Melbourne has expanded, leasing an apartment above its dining space to become a function room.

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Gorman Commercial's Nathan May negotiated the lease of about four years, plus option, for Unit 1, 171 Domain Road, South Yarra. The net annual rental is $50,000.

“The business had identified some time ago that a private dining space would further bolster the business," Mr May said. "The opportunity to expand was too good to pass up.”

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