Unique Brands Descend on Melbourne's Swanston St

Swanston st

Three landmark retail spaces on Swanston Street in the core of Melbourne’s CBD have been leased on multiple long term deals.

Terence Yeh of Fitzroys negotiated leases at 137, 143 and 145 Swanston Street, which are amongst the first retail deals to be completed on the major strip in 2017.

Western Australia-based health foods and supplements retailer Simply Health has taken a six-year option at 137 Swanston Street at $300,000 per annum net with 3% annual increases.

It will move into the space between cult womenswear label Gorman and national footwear retailer Hype DC.

Original Ugg Australia Classic has found a comfortable fit in the former Off Ya Tree site at 143 Swanston Street. The ugg boots, ugg accessories, leather hats and merino clothing retailer signed a decade-long deal at $260,000 per annum with 4% yearly increases.

Next door the 145 Swanston Street space previously occupied by 24/7 eatery Golden Tower has been taken up by the expanding games and puzzles retailer Mind Games, which is building on its existing presence at 244 Swanston Street. The asking price for the space was $300,000 per annum net.

Mr Yeh said each site attracted strong enquiry from tenants looking to secure a presence in a prized section of the major thoroughfare, which receives "some of the highest foot traffic volumes in the city".

Warehouse/Office Sold at Auction for $3.5 Million

An industrial warehouse/office in the heart of the Clayton South industrial precinct in Melbourne’s south east has been sold at auction by Ray White Commercial Oakleigh for $3.5 million.

The property at 14-16 Meriton Place, Clayton South, was sold under the hammer to an owner-occupier food-based business by Joshua Colosimo and Ryan Amler of Ray White Commercial Oakleigh on behalf of a local owner.

Mr Colosimo said there were five bidders at the onsite auction and a large crowd in attendance.

“There was keen interest in this complex in the heart of Clayton South’s industrial precinct which is on a land area of approximately 5,100 sqm and offers a total building area of approximately 2,327 sqm,” he said.

Mr Amler said capital values in the industrial market in Melbourne’s south-east in the 12 months to March, 2017, have risen due to limited quality stock available, which has driven competition and urgency during a period of high demand.

Industrial Units Sold for $1 Million

  Industrial units in a complex at Murwillumbah on the far north NSW coast have been sold by Ray White Commercial GC South for $1 million.   Units 1 & 2 at 5 Hayley Place, Murwillumbah, Burringbar, were sold off-market to a private buyer by Darren Jones and Assi Dadon of Ray White Commercial GC South on behalf of a private owner.

Mr Jones said the vacant properties were in an excellent location with easy access to the Tweed Valley Way.

“These high clearance warehouse buildings are in a quiet location and offered three entry doors as well as a substantial hardstand area at the rear,” he said.

“Unit 1 was a 450 sqm warehouse while unit 2 also offered a floor area of 450 sqm  with an extra 150 sqm of offices or liveable space at the front.

“The warehouses also offered 3 phase power and plenty of onsite parking.”

Murwillumbah is located on the Tweed River and is in one of the fastest growing regional areas of NSW and is well-supported with established commercial and service infrastructure.

Cult Label Takes Prime Chapel Street Space

Bali-via-Melbourne womenswear label Mister Zimi has leased a prime Chapel Street, South Yarra retail space for its latest boutique.

Fitzroys Sales and Leasing Executive Jordan Ceppi negotiated the 4+4-year lease for the 555A Chapel Street shop of 121sqm at $145,000 plus GST and outgoings.

Ceppi said the strong rental and long-term lease achieved in the prime section of the iconic retail strip demonstrated the confidence businesses have in Chapel Street, South Yarra’s future prospects.

“The local residential population has continued to boom and is underpinning the future upside of the strip, led by the nearby Forrest Hill project that is home to nearly 4,000 residents and has seen around $2 billion worth of construction take place, as well as upcoming developments including the 50-storey Capitol Grand development on the corner of Toorak Road, and the 661 Chapel Street development,” he added.