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Jackson Motor Company buys office, warehouse for $3m

207 Blackburn Road sold for $445,000 over the reserve.

207 Blackburn Road sold for $445,000 over the reserve.Credit:

Brunswick

A single-storey shop at 644 Sydney Road sold at auction for $888,000 on a 3.8 per cent yield. Gorman Commercial’s Dean Alexander and Tom Maule said more than 80 inquiries were received with multiple bidders on the day.

Epping

An owner-occupier paid $800,000 for a 378 sq m industrial property in the Connect North Industrial Estate. Colliers International’s Mitch Purcell and Corey Vraca negotiated the deal at 1/26 Constance Court on a building rate of $2116 per sq m.

Clayton

Unit 6/6 Clayton Road, leased to long-standing tenant DMG Mori Australia Pty Ltd, sold at auction for $1.86 million, on a 4.8 per cent yield. Crabtrees Real Estate’s Gavin Dumas and Joe Monea said the unit was leased for $90,000 per annum. More than 40 bids pushed the sale price $200,000 above the reserve, Mr Dumas said.

Unit 6/6 Clayton Road sold at auction for $1.86 million.

Unit 6/6 Clayton Road sold at auction for $1.86 million.Credit:

Pakenham

About 50 people watched four bidders compete for 53-55 John Street. The Salvos occupied showroom fetched a final price of $95,000 above the reserve. It went for $1.82 million on a 4.94 per cent yield, Gross Waddell ICR’s Andrew Greenway and Andrew Waddell said.

LEASES

Clyde North

Retailer Home & Party World has leased 1023 sq m for their second store in MAB Corporation’s Clyde North Lifestyle Centre. Leedwell Property’s Chris Parry said Home & Party will join other major retailers like ALDI, Repco and PETstock in the centre. Rates achieved for showrooms are generally between $210 and $260 per sq m net.

Cranbourne West

Brighton Flooring will move into a 1276 sq m facility in a new lease negotiated by Colliers International’s Fraser Pearce. The firm signed a 3-year lease at net face rent of $85 per sq m at 4 Palomo Drive.

St Kilda

A shop at 168-170 Acland Street has leased for $350 per sq m. The ground floor leased for $700 ps m and the first floor for $255 ps m, Gorman Commercial’s Nathan May and D’Andra Rao said. Veludo will open a bar/club on the premises under a 5-year lease at commencing rent of $127,500 per annum.

Rowville

Line marking business Mainliner Pty Ltd will move into a warehouse at 11 Hi-Tech Place on a 3-year lease. Colliers International’s Harry Larwill and Andrew Chrapot said Mainliner Pty Ltd will occupy 510 sq m at net face rent of $108 per sq m.

Armadale

More than 50 inquiries were received to lease 13A Rose Street, Gorman Commercial’s Nathan May and Andrew Prowse said. Cafe operator 30 Mill secured the property on a 5+5+5+5 year lease at rent of $35,000 per annum.

Hawthorn

Gazman will open a store at 722 Glenferrie Road. Gorman Commercial’s Nathan May said the retailer signed a 3-year lease at commencing rent of $73,000 gross per annum.

Hoppers Crossing

A refurbished office warehouse at 87 Elm Park Drive has leased for $115,000.00 per annum, at a building rate of $112 per sq m. CVA’s Matthew Alderman said a cricket player/development coach took a 5-year term over the building.

Bayswater

A Turkish leather apparel and homewares importer has signed a new 3-year lease at 15/ 49 Corporate Boulevard at starting rent of $18,000 per annum. The 164 sq m industrial building has a small 2-level office and high clearance warehouse, Gorman Kelly’s Glen Neilson said.

MOVERS

CBRE has recruited Paul Kernan to a newly created role leading the firm’s specialised Property Management – Industrial & Logistics platform. Mr Kernan joins CBRE after seven years at Colliers International.

Submissions to sjohanson@theage.com.au

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