SALES

Dandenong South

The four 20,000sq m buildings that make up the Hawdon Industry Park have been snapped up by a private investor for $15.1 million. Two buildings were leased to Apollo Cycles and Radial Timber with the purchaser intending to occupy one – 4 Abbotts Road – and lease out the other vacant structure. CBRE's James Jorgensen and Rory Hilton – in conjunction with Cameron Industrial's Ben Cooper – negotiated the sale.

Rowville

Building products company Prochoice Global Investments will relocate its headquarters to 57-63 Henderson Road after paying $4.7 million for the former home of Award Brands. CBRE's David Aiello and James Jorgensen negotiated the deal for the 4044sq m facility.

Glenroy

The hot retail sector is warming the northern suburbs. About 100 onlookers watched four bidders fight over a distinctive yellow showroom at 789 Pascoe Vale Road, before it finally sold under the hammer for $3.2 million at a land rate of $3516 per sq m, Gross Waddell's Alex Ham and Michael Gross said.

Bentleigh East

An investor liked the look and sound of a commercial showroom occupied by Pro Light & Sound retail store, paying $1.498 million for the property at auction. Ray White Commercial Oakleigh's George Kelepouris said there was keen interest in the complex, which generated net rental income of $81,600 per annum. "We had four bidders at the on-site auction and the property was sold under the hammer," he said.

North Melbourne

An office at 16-20 Howard Street has sold at auction for near-record land rate, fetching $4 million. The open plan, two-level building covers 1020sq m and included eight car spaces, selling agents Paul Farrelly and Paul Sutherland of Sutherland Farrelly said. "There was solid interest .. five parties competed for the property," Mr Farrelly said.

South Melbourne

A 96sq m strata office with two basement car parks just off Albert Road sold within two weeks of hitting the market, Dixon Kestles' Mark Smedley said. The second level office at 201-202/ 63 Stead Street sold via  private auction for $475,000 to a tenant in the building. Meanwhile, Ian Price has sold a cafe in Montague Street to an investor who inquired if the vendor would sell it when he noticed the site was being marketed for lease. The site at 151 Montague Street sold for $1,025,000 on a 45-day settlement .

Tullamarine

Proximity to Tullamarine Airport is driving sales in nearby Keilor Park Drive. Unit 13 at No. 85-91 has been leased to an established logistics business since 2009. It sold for $662,000 on a a yield of 6.4 per cent, said Craig McKellar of CVA Property Consultants.

Dandenong South

Cabinet maker and joiner Fokust will take a five-year lease at a rental of $100,000 per annum net at 84 Micro Circuit, Savills Australia's Paul Jones said. The property has 1238sq m of quality office and warehouse space.

LEASES

Carlton

The Pixel building, one of the city's most innovative green offices, is now at full occupancy after Fitzroys' Dean Alexander leased 233sq m on Level 1 to Airmaster. The heating and cooling specialists signed a five-year lease at a net rental close to $400 per sq m.

Melbourne

Restaurant review website Zomato has inked a short-term, 12-month lease on the seventh floor of 63 Exhibition Street, a B-grade tower in the city's east end. CBRE's Will Dungey and Scott McGlone negotiated the 12-month lease on behalf of Salta Properties.

Melbourne

In a second deal in the same building at 63 Exhibition Street, property firm Lauders Real Estate has signed a three-year lease on a 193sq m suite at rental of $300 per square metre net. In the same building, Darlo Group has taken more space for its headquarters after recent company growth and expansion into the Asia-Pacific region. Colliers International's Milly Stockdale, who facilitated the three-year lease, said Darlo Group took a whole 474sq m fitted floor. Space within the Salta Properties building was marketed at $350 per sq m.

Melbourne

At 356 Collins Street, Australian online forex trading company EightCap has leased 196.7sq m, a half floor on Level 11, on a four-year lease term for $485 gross per sq m. JLL's Zak Seccull and Scott McGlone of CBRE negotiated the deal for the building's owner Peach Tree Capital.

Melbourne

And on the corner of Hosier Lane at 165 Flinders Lane, Sutherland Farrelly's Paul Farrelly has leased a corporate office on Level 3 for for $45,000 per annum (including outgoings and GST). The location created a high level of demand, he said.

South Melbourne

Media agency Atomic 212 will relocate its creative design studio to a 330sq m space at 31 Ross Street on net face rent of $425 per sq m, Colliers International's Vincent Tran said. And in Laverton North, the firm's Stephen Ryan and Nick Saunders leased Quan Lac a 1975sq m warehouse at 3/68-72 Fitzgerald Road on gross face rent of $50 per sq m.

Dandenong South

Construction company Xerri Group has committed to a five-year lease on a 2536sq m site with a warehouse at 30-32 Ordish Road. CBRE's James Jorgensen and Josh Fitt negotiated the lease at a rate of $85 per sq m net.

Richmond

Luxury hamper supplier Bockers & Pony has leased a 650sq m high clearance warehouse through Ian Price of Dixon Kestles. The starting lease for 40-42 Crown Street was $100,000 per year, rising to $120,000 in the third year. Meanwhile, the firm's Steven Lee has leased a small 45sq m office at 620 St Kilda Road with a car park for $20,000 gross per annum.

Brooklyn

Bradley Ellul and Leo Mancino of CVA Property Consultants have leased an office with an existing education permit in Brooklyn for $90,000 per annum to CERT, a division of publicly listed Engenco, on 3+3+3 year term. The ground floor of the building has four large training rooms. In another deal, Mr Ellul leased a showroom/warehouse at Unit 3, 29 Westwood Drive in Ravenhall to Tradelink, a subsidiary of Fletcher Building, for $52,000 per annum, representing a building rate of $104 per sq m.

Mulgrave

LED light specialist littil Group has expanded its footprint, bringing all of its businesses together under one roof at a new 1440sq m facility at 61-65 Geddes Street. CBRE's Josh Fitt and James Jorgensen – in conjunction with Daniel Kelly of Savills – negotiated the lease. Rentals in the area are about $90 per sq m net.

MOVERS

CBRE has recruited Neva Courts – most recently DEXUS general manager of capital transactions – to a new role as senior director on its institutional investments team. Ms Neva has 17 years of property industry experience, including senior roles at DEXUS and AMP.

Savills Australia has strengthened its leadership team appointing Paul Le Sueur to the role of state director in charge of the Victorian asset management division. Mr Le Sueur has previously worked with JBI Property Services and ALDAR Properties in Abu Dhabi and GE Healthcare in Tokyo.

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