Developer moves on vacant Hawthorn restaurant

A 2022-square-metre residential development site at 28 Pickett Street was snapped up off market for $2 million by a local developer. The site has a permit for 12 townhouses. The deal was negotiated by Savills Australia’s Julian Heatherich, Mark Stafford and Benson Zhou.

Laverton North

A local owner-occupier has purchased two strata office suites at Citinova’s Brooklyn Interchange development at 1-11 Little Boundary Road for $562,500. Knight Frank’s Nick Bisset and Matthew Romanin handled the sale.

Preston

A 2575 sq m office/warehouse at 87-93 Raglan Street on a 4300 sq m site sold before its campaign closed for $4.6 million. Previously occupied by Fluid Drive, it sold with vacant possession through NSL Property Group’s Guy Naselli to a business owner whose property was being compulsorily acquired as part of the Eastern Freeway expansion.

Greenvale

Potential childcare sites are attracting investors’ attention. A corner site at 1 Greenvale Gardens Boulevard sold for $2.2 million after a short on-market campaign. The 3016 sq m block had plans for a single-level 122/144-place centre or 100-place centre plus two residential lots. It sold through Savills Australia’s Julian Heatherich, Mark Stafford and Benson Zhou.

Clayton South

Knight Frank’s Nick Bisset and Matthew Romanin negotiated the sale of a strata-titled gym in Cedar Woods’ Jackson Green masterplanned community in an off-market deal for $265,000 on a yield of 5 per cent.

LEASES

Melbourne

The state government’s Department of Treasury and Finance will relocate to Charter Hall’s 570 Bourke Street tower after signing a 2757 sq m lease for a whole office floor (level eight) previously occupied by Jardine Lloyd Thompson. CBRE’s Will Dungey and Andrew Peak negotiated the deal in conjunction with JLL’s Gellie Mendes. The lease was assigned to Treasury, allowing it to secure a large office with a high-quality, existing fitout, Mr Dungey said.

Camberwell

Stephens & Miller Jewellery will take over a shop formerly occupied by Sketa Clothing at 789 Burke Road after leasing the 110 sq m premises, CVA’s Ian Angelico said. Rent was undisclosed but the area typically attracts rates of about $1000 per sq m. The two-bedroom residence above nets extra income, he said.

Nunawading

Wishart Auto Tech has signed a new three-year lease at 43 Terracotta Drive with a starting rent of $40,000 net per annum. The automotive electrical business will move from Kensington into the 328 sq m office/warehouse, GormanKelly’s Glenn Neilson said.

Altona

Online homeware wholesaler Urban Products will move into C3 Construction Group’s new development at 13 Marshall Court. Urban signed a five-year lease for the 3960 sq m warehouse at a market net rent of about $75-$80 per sq m. CBRE’s Tom Murphy, Ricardo Cappelletti and Fergus Pragnell negotiated the deal.

Box Hill

Timber-focused business OneFortyOne will move into Vantage Properties’ office at 26-28 Prospect Street in a deal negotiated during stage four lockdown by GormanKelly’s Samuel Torrence. OneFortyOne signed a five-year lease at rent of $350 per sq m net for the 265 sq m office. The landlord is fitting out the premises for them and provided 17 car spaces.

Submissions to [email protected]