Kayla Itsines’ SWEAT app leases final space within Building 5, 658 Church Street, Richmond

Fitness app SWEAT has leased the final office area within Vantage Property Investment’s Building 5, 658 Church Street, Richmond.

The 312 square metre space, with exposed concrete ceilings and floor-to-ceiling windows, is on the second floor of the five-level building which won a Design Merit from the Australian Institute of Architects after being developed in 1998.

The SWEAT lease was negotiated by Colliers International’s James McMahon and Chris Meehan with Morley Commercial’s Jamie Lie and Tom Larwill.

Building Five, 658 Church Street, Richmond.

Coincidentally, Morwell Commercial occupies the fourth level of the building, which Vantage manages on behalf of a North American investor.

In May we reported that property portal realestateview.com.au rented 220 sqm within the office – relocating from Hawthorn East.

Local developer Goldfields Group also tenants Building 5, 658 Church Street

SWEAT was established by Australian Kayla Itsines (pictured, top)- who Time in 2016 named one of the 30 most influential people on the internet – with more than eight million Facebook followers, and five million on Instagram.

According to this item on www.networthbuzz.com, which quotes other sources, Ms Itsines is said to have an estimated net worth of about $486 million. In 2016, the businesswoman reportedly earned $46 million.

SWEAT, which charges subscribers $19.99 per month, or one flat reduced rate annual fee, is said to have earned about $77 million so far.

The company’s next office forms part of a business park occupied by high-profile tenants including Walt Disney Corporation, Mattell and DDB. Tesla occupies space next door to Building 5.

The 312 square metre space fitness app SWEAT has leased.

Earlier this month we reported that US-based global investment management corporation BlackRock listed Building 10, 658 Church Street, Richmond, a four-level, 7989 sqm commercial building with 279 car parks.

BlackRock is expected to bank about $80 million for the investment it picked up for $45 million four years ago.

Colliers International’s Rob Joyes and Adam Woodward with CBRE’s Kiran Pillai and Scott McGlone are representing BlackRock.

This image shows the numerous buildings which form the business park at 658 Church Street, Richmond. The circled office, building 8, was acquired by Naomi Milgrom for $44 million in 2017.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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