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La Trobe Street shop sells for $3.5m

An investor has paid $745,000 on a 5.4 per cent yield for a strata shop at 515 Hampton Street.

An investor has paid $745,000 on a 5.4 per cent yield for a strata shop at 515 Hampton Street.Credit:

Braeside

An older 1163 sq m office/ warehouse has sold prior to auction for $1.3 million. Located at 18 Century Drive, the property on two titles sold to an owner occupier in a deal transacted by Nichols Crowder’s David Garfield.

LEASES

Surrey Hills

Despite current economic challenges, GormanKelly’s Samuel Torrance secured Peak Chiropractic as the new tenant for 405 Canterbury Road. The business took a five-year lease plus option at a starting rent of $90,000 a year. The building is undergoing a significant renovation.

Abbotsford

An online florist has leased 21 Studley Street for $34,000 per annum on a three-year lease. The boutique 105 sq m warehouse-style studio was fully self-contained and included on-site parking for one vehicle, Gorman Commercial’s Dean Alexander said.

Ormond

Aeastudio & Lash Squad will open a new parlour in shop 2 and 3 at 556 North Road on annual rent of $25,000. The 103 sq m space was leased for two years by CBRE’s Jason Orenbuch and Zelman Ainsworth.

Prahran

Financial planners Money Lab will move into level 2 and 3 at 29-31 Izett Street after signing a lease negotiated by JLL’s Matt Szakiel. The firm took a six-year lease valued at more than $1.5 million over the 650 sq m in the uber cool warehouse conversion, which boasts a red swimming pool and an expansive open-air terrace.

The terrace and swimming pool at 29-31 Izett Street, Prahran.

The terrace and swimming pool at 29-31 Izett Street, Prahran.Credit:

Submissions to sjohanson@theage.com.au

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