tenant move – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 28 Mar 2010 12:28:23 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png tenant move – realestatesource https://www.realestatesource.com.au 32 32 Macquarie Rumoured to Be Leasing 19,500 Sqm at Canary Wharf, London https://www.realestatesource.com.au/macquarie-rumoured-to-be-leasing-19500-sqm-at-canary-wharf-london/ Mon, 26 Oct 2009 12:04:03 +0000 http://realestatesource.com.au/wordpress/macquarie-rumoured-to-be-leasing-19500-sqm-at-canary-wharf-london.html MACQUARIE Group has agreed to lease a 19,500 square metre London and European head office at Canary Wharf.

UK-based real estate website propertyweek.com said Macquarie will relocate to a new project at Drapers Garden, Canary Wharf, from CityPoint, in 2011.

Macquarie will join he likes of Citigroup, Credit Suisse and HSBC in the heavily focussed financial service precinct.
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Macquarie is reported to be paying rent of about $A77 per square foot to occupy the space. It’s reported Macquarie negotiated an incentive whereby the first four years of its 15-year lease are rent-free.

Prime office rents in London are reported to have fallen about 35 per cent since the financial market slide.

A copy of the article is here:
http://www.propertyweek.com/story.asp?sectioncode=36&storycode=3151626

]]> Atari Relocates to St Kilda Road https://www.realestatesource.com.au/atari-relocates-to-st-kilda-road/ Sun, 24 May 2009 12:00:16 +0000 http://realestatesource.com.au/wordpress/atari-relocates-to-st-kilda-road.html KROME STUDIOS – the new name for the electronic games giant once known as Atari – has swapped its long time Melbourne office at 14 Queens Road, opposite Albert Park Lake, for newer offices at OCE House on St Kilda Road.
 
Krome quit the Viento owned Queens Road building – where it also leased naming rights – and will move into about 1,270 square metres of space at 616 St Kilda Road, previously occupied by insurer AAMI, which is subletting.
 
Lemon Baxter’s Chris Curtain and Jay Pavey are marketing OCE House, but declined to comment when contacted.
 

]]> Football Federation Victoria Leaves Thornbury for St Kilda Road https://www.realestatesource.com.au/football-federation-victoria-leaves-thornbury-for-st-kilda-road/ Sun, 01 Nov 2009 11:33:15 +0000 http://realestatesource.com.au/wordpress/football-federation-victoria-leaves-thornbury-for-st-kilda-road.html VICTORIA’s state governing body for soccer will relocate from a modest office in the middle of a northern suburb sports complex, to a relatively flash new headquarters in tree-lined St Kilda Road.
 
Football Federation Victoria has leased 845 square metres at Flight Centre’s 436 St Kilda Road office building, about five months ahead of the opening of the distinctive Rectangular Stadium, under construction on Olympic Boulevard, the new name for the part of Swan Street, west of Punt.

]]> FFV is currently based at offices near the John Cain Memorial Park, at the suburb border of Thornbury and Fairfield. CB Richard Ellis leasing executive Christopher Munn tole The Age FFV signed a ten-year lease at the St Kilda Road building, which Flight Centre failed to sell earlier this year for between $25 and $30 million.

]]> The Reject Shop Issues Major National Leasing Requirement https://www.realestatesource.com.au/the-reject-shop-issues-major-national-leasing-requirement/ Sun, 28 Mar 2010 12:28:23 +0000 http://realestatesource.com.au/wordpress/the-reject-shop-issues-major-national-leasing-requirement.html MELBOURNE born retailer The Reject Shop has issued a major leasing requirement to prospective landlords, in an attempt to further expand its national network.

The discount retailer, which last month reported an $18.9 million half-year profit, and has enjoyed a buoyant business because of the bleak economic backdrop, has targeted locations in every state and territory including the Northern Territory, the only major region it does not trade.

A leasing requirement document issued by the Reject Shop says its strategy is to grow by at least 20 stores a year.

]]> The Reject Shop has identified 251 “growth potential areas” throughout the country, to accompany the 194 stores it trades from, currently.

There were 150 Reject Shops nationally in 2008.

The Reject Shop, and rival Priceline, have traditionally been amongst the biggest players in the discount retail sector – but the recent arrival of fast-growing German supermarket chain Aldi, has muscled into Reject’s territory.

Nowadays, grocery and personal care make up almost a third of the Reject Shop’s merchandise product mix.

The Reject Shop is looking for spaces of between 500 square metres and 850 square metres, near an “anchor” building like a supermarket, or Medicare.

The company was founded on the old Como site in South Yarra in 1981.

 

]]> Defence Health to Reap $6.5 Million From Sale of Outgoing St Kilda Road Office https://www.realestatesource.com.au/defence-health-to-reap-65-million-from-sale-of-outgoing-st-kilda-road-office/ Sun, 14 Mar 2010 16:49:48 +0000 http://realestatesource.com.au/wordpress/defence-health-to-reap-65-million-from-sale-of-outgoing-st-kilda-road-office.html PRIVATE health insurer Defence Health can expect to make $6.5 million from the sale of a prominent St Kilda Road office within walking distance to the Flinders Street station.

Defence Health is the latest in a string of companies to list formerly owner-occupied buildings for sale, while it rents elsewhere.

Defence Health’s outgoing office three-level office at 344 St Kilda Road, opposite the Shrine of Remembrance is being marketed by Colliers International’s Ben Christie.
]]> Colliers has leased Defence Health 1681 square metres over one level nearby at 380 St Kilda Road, where it is paying a speculated rent of $280 per square metre, per annum.

]]> Global Campus Management Administration Leaves Half a Docklands Office Building Vacant https://www.realestatesource.com.au/global-campus-management-administration-leaves-half-a-docklands-office-building-vacant/ Sun, 08 Nov 2009 11:32:37 +0000 http://realestatesource.com.au/wordpress/global-campus-management-administration-leaves-half-a-docklands-office-building-vacant.html ALMOST half of an unfinished Docklands office building will be offered for lease, after education service provider Global Campus Management – which agreed to lease space at 717 Bourke Street to accommodate fashion university ESMOD – went into voluntary administration last Thursday.
 
ESMOD was to have occupied 18,000 square metres of the distinctive 37,000 square metre building which will also be home to petroleum giant BP upon completion in July next year.
 
GCM is a minority shareholder in the Bourke Street building, on the south-west corner of Wurundjeri Way, which was developed by Babcock & Brown and architect Metier 3.

]]> Colliers International director Andrew Tracey – who is finalising leases on what was thought to be the last 9,000 square metres of the building – told The Age the new space couldn’t have come at a better time, with net face rents higher now than they were in 2008, when offices were first marketed for lease.
 
He said except for a building at the northern part of Docklands, prospective office tenants won’t be presented with many options around the waterfront until 2012.

]]> Leaseplan May Quit St Kilda Road for South Wharf https://www.realestatesource.com.au/leaseplan-may-quit-st-kilda-road-for-south-wharf/ Sun, 01 Nov 2009 11:35:34 +0000 http://realestatesource.com.au/wordpress/leaseplan-may-quit-st-kilda-road-for-south-wharf.html THE owners of the $750 million South Wharf development, at the point where Southbank meets Docklands, may have snared another major office tenant from St Kilda Road.
 
Car leasing giant Leaseplan is understood to have leased about 4,000 square metres at the 12-level South Wharf office tower, part of a massive riverfront development that also includes the new DFO South Wharf, and a 396-room Hilton Hotel. 

]]> Sources say another undisclosed tenant is in negotiations to lease the balance of the office space, but this could not be confirmed with owner Austexx.
 
Leaseplan would relocate from offices at St Kilda Road, following the lead of container line giant ANL, which was the first tenant to office tenant to commit to South Wharf last August. Kraft also announced it would relocate to South Wharf, vacating a Port Melbourne office originally developed for Boeing Industries ten years ago.

]]> ABC’s Slice of Rippon Lea Estate, Elsternwick, Expected to Sell For More than $25 Million https://www.realestatesource.com.au/abcs-slice-of-rippon-lea-estate-elsternwick-expected-to-sell-for-more-than-25-million/ Mon, 26 Oct 2009 03:16:22 +0000 http://realestatesource.com.au/wordpress/abcs-slice-of-rippon-lea-estate-elsternwick-expected-to-sell-for-more-than-25-million.html Rippon LeaAN 8,000 square metre slice of Elsternwick’s historic Rippon Lea estate, compulsorily acquired by the State Government in the 1950s for the Australian Broadcasting Corporation – is likely to be sold to residential developers, if the ABC vacates the property in 2012.
 
ABC project director Ray Moore told Secret Agent it is considering selling two Elsternwick properties, currently occupied as studios and offices, including a major complex on Gordon Street abutting Rippon Lea – built on what was once the property’s southern boundary. 

]]> Moneys raised from the sales will fund the development of a new $90 million studio at 102 Sturt Street in Southbank, Mr Moore said. The Sturt Street development, which would be next door to an existing ABC office at 120 Southbank Boulevard, is subject to parliamentary approval, but expected to occur.
 
Sources estimate the value of ABC’s outgoing Gordon Street office to be about $25 million.
 
They say the land could make way for an apartment complex, similar to that being proposed around the Stonington mansion in Malvern, or a lower density subdivision, as occurred behind Canterbury’s Frognall mansion in the early 1990s.
 
At close to a hectare, the site could also make way for several apartment towers offering Port Phillip and CBD views, over Rippon Lea’s established gardens.
 
ABC offices and studios were developed on part of the Rippon Lea estate, prior to the opening of the 1956 Melbourne Olympic Games. Popular television shows including Countdown, The Big Gig and The Late Show were later recorded at what is known as the “Rippon Lea studio”.
 
The land occupied by the ABC is not on the Victorian Heritage Register, but a Heritage Victoria spokeswoman said the ABC could still return the land to the estate, if it wanted. The imposing Rippon Lea property is managed by the National Trust, and open to the public.
 

]]> Southern Cross Broadcasting’s Outgoing South Melbourne Office to Become Hotel and Apartment Complex https://www.realestatesource.com.au/southern-cross-broadcastings-outgoing-south-melbourne-office-to-become-hotel-and-apartment-complex/ Mon, 26 Oct 2009 03:13:13 +0000 http://realestatesource.com.au/wordpress/southern-cross-broadcastings-outgoing-south-melbourne-office-to-become-hotel-and-apartment-complex.html FOUR months since selling to developers, the new owners of South Melbourne’s 41 – 49 Bank Street office – and long time home of Fairfax Media’s Southern Cross Broadcasting – have lodged plans to build a hotel and apartment complex on the site.
 
A spokeswoman for the Port Phillip Council said it is reviewing an application to demolish the existing building and construct a 16-level complex, which would include 126 apartments, 88 hotel suites, and a ground floor restaurant.
 
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The property sold in July for more than $5.5 million. Fairfax Media staff will relocate to Media House at the corner of Collins and Spencer streets, Docklands, which Premier John Brumby is officially handing over to outgoing Fairfax chairman Ron Walker on Tuesday.

]]> Mitchell Communication Group to Start Construction of New $30 Million South Melbourne Headquarters https://www.realestatesource.com.au/mitchell-communication-group-to-start-construction-of-new-30-million-south-melbourne-headquarters/ Mon, 26 Oct 2009 03:06:55 +0000 http://realestatesource.com.au/wordpress/mitchell-communication-group-to-start-construction-of-new-30-million-south-melbourne-headquarters.html 101 York StreetADVERTISING mogul Harold Mitchell is building a new $30 million company headquarters on the prominent South Melbourne site his agency has occupied since the late 1980s.
 
The media specialist, who established Mitchell Communication Group in 1976, has demolished a double-storey building his agency previously occupied at 101 – 107 York Street, and will replace it with a 5-level, 5,100 square metre A-grade office, with several outdoor balconies, and city views.

The new Bruce Henderson Architect designed HQ will consolidate Mitchells staff from five offices around South Melbourne, including space it has temporarily leased for the period of construction, opposite the South Melbourne Market nearby.
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Mr Mitchell, who is also the chairman of the Melbourne Symphony Orchestra, told Capital Gain “Our people are our greatest asset and it’s very important to me that they have a workplace that they both enjoy and are proud of.”
 
The new office’s environmental credentials include greywater harvesting (collection of waste water to be used in flushing of toilets), chilled beams (the passing of chilled water through piping embedded through concrete slabs, to keep a building cool), solar power, and high performance glass – able to allow excellent light, yet reduce heat gain.
 
Construction of the new office is expected to be complete late next year.

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