Chef’s Hat signs major lease deal at GPT Group’s Citiport Business Park
The GPT Group’s Citiport Business Park, in Port Melbourne, is fully leased following a major commitment by Chef’s Hat.
The hospitality equipment supplier is paying starting annual rent of $150 per square metre for the 2974 sqm warehouse at 274 Salmon Street (pictured, top).
Lemon Baxter’s Chris Chartres and Ben Hackworthy negotiated the deal.
Four kilometres south-west of the Melbourne CBD, 274 Salmon Street is configured with a modern and data cabled office and showroom, large clear span warehouse with 7.5 metre clearance and two roller doors, and three-phase power.
It also offers 10 car parks.
The property is opposite part of a former General Motors Holden factory which has been converted into the Portside business park.
Chef’s Hat has a prominent retail store at 131 Cecil Street, opposite the South Melbourne Market.
Mr Chartres said that Port Melbourne industrial rents are increasing more than any other Victorian market due to the combination of high demand and low vacancy.
The Citiport estate includes low rise office buildings and 10 warehouse office units attached to showrooms. All up, it offers 27,000 sqm of lettable area.
“Citiport has always leased well due to its corporate presence, prominent location, rare underground secure parking and truck access,” Mr Chartres said.
“Although there is still a demand for properties of this size, we are finding that currently in Port Melbourne there is strong enquiry for quality standalone properties around 1000 sqm like [another property the broker is marketing at] 235 Ingles Street“.
