Commercial and residential property news
PICKLES Auctions has signed a short-term lease for 60,000 square metres of industrial space, until recently occupied by one of its rivals, Fowles.
In the western suburb of Braybrook, the property at 594 – 598 Geelong Road was required to cope with an influx of some 10,000 vehicles which recently found their way onto the company’s books following the hail storms of Christmas Day.
Read moreAUTOMOTIVE Holdings Group’s refrigerated transport division, Rand Transport, has leased two industrial properties in Brisbane and Melbourne.
Rand will occupy a 2.64 hectare site in Parkinson, Brisbane, which will have a 12,000 pallet capacity. It will also occupy a 3.4 hectare site in Melbourne’s western suburb of Derrimut, which allows for a 19,500 pallet capacity.
Construction of both buildings is scheduled for September 2010.
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GOODMAN Group has signed three major industrial leases totaling 84,000 square metres.
Transport company Wettenhalls has signed a five year lease for a 32,600 square metre facility at Laverton North, in Melbourne’s west. Wettenhalls is paying $60 per square metre to occupy the site within Goodman’s Wyndham Distribution Centre.
The space Wettenhall is moving into was previously occupied by Kmart, which is moving to a 76,700 square metre facility at Goodman’s Banfield Distribution Centre in Truganina, also in Melbourne’s west and not far from Laverton North.
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BABY Buntings will pay a reported rent of $75 per square metre, per annum, to occupy a large 11,750 square
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AIRROAD Logistics will relocate its headquarters from Laverton North, to an as-yet-unbuilt 21,500 square metre office warehouse at the Paramount Industrial Estate, in nearby Derrimut, after signing a 10-year lease for an Elgar Road facility.
Colliers International’s Stephen Newsham and Nathan Bingham negotiated the pre-lease for the land owner, a private investor.
Sources speculate market rents at Paramount circle $57 per square metre, per annum before incentives (a rental discount offered to tenants, usually in the form of a rental discount, or contribution to fit-out).
Read moreAUSSIE Farmers Direct, the to-your-door grocery business, has leased a 4744 square metre industrial warehouse in the western suburb of
Read moreDEMAND for industrial space in Melbourne is continuing, with a string of major lease deals announced in recent weeks.
Brillian Aluminium has leased a 24,800 square metre facility at 61 Australis Drive, Derrimut in Melbourne’s west, where it is believed to be paying a rent of about $55 per square metre.
Booth Transport is believed to have leased about 20,000 square metres in Salta Drive, Altona North, while TTL Holdings has leased a 12,800 square metre facility of three warehouses in nearby Geelong Road.
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