Bunnings has listed two outgoing Hawthorn East offices for lease with two more to come.
The campaigns include the group’s headquarters of 16 years at 16-18 Cato Street and a commercial building opposite. Its Victorian support centre at 465 Auburn Road is for direct lease.
All up these properties offer 8796 square metres of lettable area.
Another c1200 sqm is expected to be listed in coming weeks – both in the suburb, at 20 Cato St (about 523 sqm) and 447 Auburn Rd.
Hawthorn East is about seven kilometres south east of Melbourne.
The offerings come two months after Bunnings committed to 13,866 sqm of Growthpoint’s contemporary 570 Swan Street, Burnley.
Bunnings quits two Hawthorn East offices
Bunnings’ outgoing Cato St headquarters was purpose-built with 5133 sqm of A-grade area over three levels.
It is now being sub-let by floor (the top storey is the smallest at 1500 sqm but includes the building’s only balcony).
The asking rent is $400 per sqm, per annum, ex-incentives, with outgoings adding about $75.
There is also 175 basement car parks.
Bunnings’ head lease expires next year.
At nearby 465 Auburn Rd, at the north east corner of Toorak Rd, the retailer’s state support office contains 2783 sqm of similar quality space.
The asking rent is $380 per sqm, pa, ex-incentives, with outgoings at $85.
The double story building has 56 underground car parks (story continues below).
This property occupies a prominent position – the first office commuters pass traveling east from the Toorak Rd exit of the Monash Freeway.
It is also opposite an ex-Masters turned Home.Co shopping centre.
JLL’s Mario Nobrega, Matt Brown-Greaves and Josh Tebb are marketing 16-18 Cato St and 465 Auburn Rd.
The third listing – 13 Cato St, comprising 650 sqm of offices, a 230 sqm warehouse and 16 car parks – is with GormanKelly.
Bunnings Brunswick sells after 11 months
Meanwhile across town, a Bunnings outlet at 409-419 Sydney Rd, Brunswick, traded for $13.8 million between investors.
The incoming owner is Sydney based.
Australia Post also occupies a tenancy.
The Commercial 1 zoned site spreads 3697 sqm – is divided by a laneway and backs onto a car park.
It returns annual rent of just under $400,000.
Melbourne Acquisitions’ James Latos and Dominic Gibson were the agents.
The property was for sale since last March with another broker.
Bunnings intends to move to a bigger store in the suburb.
The deal comes 10 months after Savills sold a nearby 3059 sqm site (655-651 Sydney Rd, Brunswick), not sliced by a laneway, to developers for $17m.