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News release

AUSTRALIA

Recent JLL deals from around the country

An overview of the firm’s recent leasing and sales deals around Australia


​Leases

Level 23, 535 Bourke Street, Melbourne 

JLL’s Director of Office Leasing, Ashley Buller and Executive Alexandra Harper have secured ASX and NZX listed wind electricity generator, Tilt Renewable on Level 23, 535 Bourke Street, Melbourne on behalf of Julliard.  

Tilt Renewable has leased 600sqm of the privately owned building on a 5 year lease term to establish its Australasian Head Quarters. Prominently located on the corner of Bourke and William Street, 535 Bourke St James is situated in the heart of the commercial centre of the CBD, with the immedia​​te vicinity home to many of Melbourne’s leading legal and financial corporations. The building offers four perspectives of natural light, distinctive views across the city and greater Melbourne and attracts rental rates between $400-$500 per sqm.  

Tilt Renewable, General Manager Deion Campbell said, "The State Government of Victoria’s commitment to the renewable energy target and re-establishing the state as the leader in the sector contributed to our decision to select Melbourne for our APAC Head Quarters. Our business will initially create up to 35 new jobs for the state in this sector.

"The extensive refurbishment, combining innovative design with superior amenity adequately reflects the ‘start-up’ nature of our business," Mr Campbell added. 

The building now includes a retail promenade offering food and beverage amenities, a dedicated concierge, centralised mail room service, conference facilities for up to 50 people, ample car parking and secure bike storage with sophisticated club style end of trip facilities. 

Mr Buller said, "Melbourne is fast becoming the corporate home of Australia, with 57 of the ASX 200 companies currently headquartered in Victoria."

Shed 72, Suite 2.01B, 6A Huntley Street, Alexandria, Sydney  

Samsonite has leased a 387.4 sqm commercial office at Shed 72, Suite 2.01B, 6A Huntley Street, Alexandria, Sydney from Bricktop Huntley Street Pty Ltd for $154,960 net + GST per annum. The lease term is 5 years with a 5 year option.

This property forms part of modern creative estate ‘The Woolstores’, an A-Grade office complex of approximately 20,000sqm over two separate buildings in South Sydney. Staff amenities are well served by nearby cafes, restaurants, childcare, hotels, food outlets and convenience stores including a fitness centre across the road. It is located within walking distance to both Green Square and St Peters train stations and is minutes from Sydney Airport, Sydney CBD and Port Botany.

The lease was negotiated by JLL's Jessica Male.

Level 6, 171 La Trobe Street

VCE tutoring specialist Instudent Media has secured 404sqm of creatively refurbished office space on Level 6, 171 La Trobe Street, Melbourne. The 5 year lease valued at approximately $190,000 Gross p.a was negotiated by JLL Victoria Leasing Executives Zak Seccull and Alexandra Harper on behalf of a private client.

171 La Trobe Street, Melbourne is a striking 10 floor commercial and residential tower designed by renowned architect Nonda Katsalidis of Fender Katsilidis Architects and completed in 1991. 

Mr Seccull said, “Located in the North East quadrant of Melbourne’s CBD, the building’s location was incredibly attractive for the educational provider who has now recently expanded into group and one-on-one tutorials for aspiring university students, as the building is within view of two of Melbourne’s premier Universities – The University of Melbourne and RMIT”.

Suite 26.03, Level 26, 100 Miller Street, North Sydney 

SJD Investments has leased a 201 sqm commercial office at Suite 26.03, Level 26, 100 Miller Street, North Sydney from Cromwell Property Group for $151,000 gross per annum. The lease term is 5 years.

The property is located in the prominent ‘Northpoint’ tower and features Harbour views. SJD Investments relocated from sub-lease space within the building to secure a long term direct lease for their headquarters within Northpoint.

The lease was negotiated by JLL's Jaime Kernaghan.

89 Egerton Street, Silverwater, Sydney 

A medical equipment supplier and manufacturer has leased an office and warehouse measuring approximately 3,047 sqm at 89 Egerton Street, Silverwater, Sydney, from Challa Investments at $386,000 per annum gross + GST. The lease term is 5 years with a 5 year option.

The property is a large freestanding facility and is located near major arterial roads of the M4 Motorway, Parramatta Road & Victoria Road. The tenant was attracted to the facility as it benefited from high clearance warehousing, six on grade roller doors and its position as a freestanding facility.

The lease deal was negotiated by JLL's David Lidgard and Marco Chiodo.

Level 13, 213 Miller Street, North Sydney

Asset Advantage has leased a 183 sqm commercial office at Level 13, 213 Miller Street, North Sydney from Intera Group for $102,361.05 per annum gross + GST. The lease term is approximately 3.5 years.

The property has been recently refurbished, features a full office fit out and is close to public transport. The space was secured within less than two days of being placed on the market.

The lease was negotiated by JLL's Angus White.


Sales 

62 – 64 O’Riordan Street, Alexandria, Sydney 

A private property investor has purchased a 6,209 sqm site with a 3,937.7 sqm property comprising retail, office and warehouse space at 62 – 64 O’Riordan Street, Alexandria, Sydney from PropertyCorp Holdings Pty Ltd for $14.5 million. 

The property is a tenanted investment with strong income from five different occupiers including Pure Performance Golf Labs, MNR Constructions and Host Catering Supplies.
The property is located on one of South Sydney’s most tightly held and sought after streets. The property has unique dual access onto O’Riordan and Doody Streets. It has on-site parking for 45 vehicles and a warehouse clearance of approximately 11 metres. The property is situated near businesses including BMW, Mazda, Max Brenner, Reece Plumbing and Domayne.

The sale was negotiated by JLL's Blair Peterken and Edward Washer.

Comment about the deal from Mr Peterken: “This sale equates to an approximate yield of 3.96% which is one of the tightest recorded for this type of property in the South Sydney market. This sale represents the strong demand from investors and owner occupiers who are looking to establish a foot-hold in the South Sydney market. The purchaser was attracted to the location and predicts future growth to continue in South Sydney.”

1-9 Millers Road, Brooklyn, Melbourne 

A prime permit approved site in Melbourne’s West has been sold by JLL Victoria, Industrial Director Cameron Hunter. It was offered for sale by Francis Street Enterprises and purchased by Brico and Baracon Pty Ltd for a record $3.5M + GST reflecting a rate of $697 per sqm.

Located at 1-9 Millers Road, Brooklyn, 800 meters from the entrance to the Westgate Freeway, the vacant land parcel has main road exposure with two separate street frontages.  It has permit approval for a 28 warehouse unit development, which is due to commence construction in Q42016 and will be exclusively marketed by JLL Victoria Industrial Sales. 

Mr Hunter said, “There was strong interest from the market to acquire this prime corner development site for a number of reasons, including its location in Brooklyn and proximity to the Westgate Freeway, which is approximately 800 meters from the site. We expect the development to appeal to investors, self-managed super fund buyers and small owner occupiers, who want to capitalize on low interest rates and benefit from stamp duty savings by purchasing off the plan."

10 George Young Street, Auburn, Sydney 

A private investor has purchased a 2,810sqm freestanding property consisting of three leased industrial units at 10 George Young Street, Auburn from Swetha Pty Ltd for $5.83 million.
The property features warehouse clearance of up to approximately 10m and offers underground parking. 

The sale was negotiated by David Lidgard and Marco Chiodo, JLL.

Comment about the deal: The asset consisted of three, modern and fully leased units on long term leases. The property was well received in the tightly held central west industrial market and was sold via an Expressions of Interest Campaign.