News release

National sales and lease transactions in May

June 15, 2020
LEASES
63 – 71 Bayfield Road, Bayswater 

JLL’s Simon Wellock and Matt Allwood have negotiated 600 sqm of warehouse and office space at 63 – 71 Bayfield Road, Bayswater on behalf of Vathey Pty Ltd.

The 3-year lease on behalf of a private building owner is valued at over $55,000 per annuum. 

The property is located off Canterbury road in the heart of Bayswater’s industrial precinct and features a 104 sqm air-conditioned office space and 464 sqm high clearance warehouse with 6 on-site car spaces and front electric roller door access. 

JLL Executive, Matt Allwood said, “63 – 71 Bayfield Road is an excellent example of a secure, all in one, multipurpose office and warehouse space.” 

404 Albert Street, East Melbourne

JLL’s Matt Szakiel has negotiated 131 sqm of office space at 404 Albert Street, East Melbourne on behalf of Fairfields Lawyers. 

The 5-year lease on behalf of building owner Catholic Archdiocese of Melbourne is valued at $350 gross per sqm. 

The heritage building has been fully refurbished with unrivalled access to the CBD and all the eastern core amenity including Parliament train station, Treasury & Fitzroy Gardens.

Fairfields Lawyers is an Australian immigration law firm specializing in Australian Immigration Law and Procedure and corporate migration solutions. The firm was looking to downsize from their existing space. 

Ground Floor, 25 Burwood Road, Hawthorn 

JLL’s Tim Sugar and Mario Nobrega have negotiated 300 sqm of office space at 25 Burwood Road, Hawthorn on behalf of Wells Advisory. 

The 3.5-year lease on behalf of building owner 25 Burwood Road Hawthorn Pty Ltd is valued at $139,377 gross per annum. 

Located adjacent to Hawthorn Train Station, the tenancy has recently completed a refurbishment. The office space features an abundance of natural light and on-site parking for 7 vehicles. 

Wells Advisory are a Higher Education Management Consulting Firm specialising in strategy development, quality assurance, performance, and organisational development with on-the-ground teams in both Australia and the UK. 

Level 20, 390 St Kilda Road, Melbourne

JLL’s Shane Keogh has negotiated 746 sqm of office space at 390 St Kilda Road, Melbourne on behalf of Consultel Cloud. 

The 5-year lease on behalf of building owner Sim Lian Metro Capital is valued at $415 net per sqm. 

The property is prominently located along St Kilda Road with stunning views over the Shrine of Remembrance, CBD, Port Phillip Bay and Albert Park. The building features an on-site café and basement parking, with new End of Trip facilities due to be delivered in 2020. 

Consultel Cloud is an IT consultancy that delivers expertise in hybrid cloud solutions. The company focus on delivering cloud infrastructure that enhances efficiency, productivity and reliability. 

JLL Senior Executive, Shane Keogh said, “Consultel Cloud relocated from the CBD to be closer to their clients. The deal sets a benchmark for the rest of the building.”

SALES

JLL’s Mario Moscon and Arthur Vainbrant have sold a 6,268 sqm development site in Alliance Business Park, Epping on behalf of MAB Corporation. 

The industrial property achieved a sale price of $3,760,800 or $600 per sqm in an off-market transaction. 

Located in Epping, Alliance Business Park is a premier industrial and commercial hub featuring unparalleled functional benefits for work environment, amenity and infrastructure. The property has exposure to Edgars Road and proximity to both Cooper Street and O’Herns Road. 

JLL Director Industrial Services, Mario Moscon said, “The deal represents a lengthy off-market process which required Development Approval consent leading to a record price of $600 per sqm.”

For more than 25 years, MAB has planned, built and invigorated the city of metropolitan Melbourne. MAB’s diverse portfolio includes masterplanned communities, residential apartments, commercial offices, business parks, retail and investment management business.

119- 125 Hume Highway, Chullora

 M8 Holdings Australia Pty Ltd has purchased an automotive dealership in Chullora for $4.208 million

JLL’s Industrial (NSW) Senior Director, David Lidgard and Director, Ryan Jennings brokered the deal for 119-125 Hume Highway following a healthy level of inquiry and a two round Expressions-Of-Interest campaign.

 The high-profile site has triple street frontages and is exposed to more than 60,000 vehicles per day.

Mr Jennings said, “Despite the effects of COVID-19, we witnessed strong interest and received 75 enquiries throughout the campaign with two rounds of negotiations.” 

The purchaser plans to initially occupy the site and take advantage of the development potential in the future. 

119-125 Hume Highway has a building area of 746 sqm and a site area of 2,119 sqm. The sale represented building rate of $5,640/sqm and a land rate of $1,985/sqm


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.