21 Nov 2019

Mapletree signs on two new tenants over 6000sq m in South Brisbane

Singaporean property juggernaut Mapletree Investments has signed on two new tenants, leasing more than 6000sq m of office space at its South Brisbane office complex at 144 Montague Road.

Dialog Information Technology and the Queensland Building and Construction Commission (QBCC) have relocated to level 4 and 1 respectively to accommodate expansions.

IT group Dialog Information Technology has secured 3322sq m of space and 20 car spaces in a 10-year deal.

QBCC, Queensland's building industry regulator, has committed to 2680sq m of office space for four years. It also leased 10 car spaces.

Both leases came with incentives in the form of fit-outs and a rental reductions.

CBRE’s Michael Skarparis and Mel Pikos brokered the deals at the 14,742sq m building.

Energetic deal

Security services firm Kinetic IT has sub-leased 931sq m of office space in the Perth office tower at 40 The Esplanade.

Kinetic IT struck the deal with lessor Santos Ltd to service a new large contract, committing to a net annual rent of $480 a square metre.

Santos occupied the space before it relocated to 100 St Georges Terrace.

CBRE's Lachlan Lewis negotiated the two-year A-grade lease.

Perth move

Also in Perth, NC Bruining & Associates has secured a six-year lease over a 316.5sq m office at a gross annual rent of $470 a square metre in West Leederville.

JLL’s Mitchell White and Antonio Trimboli marketed the property at 115 Cambridge Street.

New Metcash

Metcash will open a new grocery store in North Sydney after leasing the retail space on the ground floor of Platino Properties’ recently completed 61-unit mixed-use project at 231 Miller Street.

The 263sq m property also includes an outside seating area and is a short walk to the future Victoria Cross metro station.

The five-year lease with options was struck at a net annual rent of about $585 a square metre. CBRE’s Amy Pfeiffer negotiated the Metcash lease.

Store opening

Bollini Home Deco Australia has signed a five-year lease over a warehouse at 20-22 Hampstead Road in Auburn in Sydney’s west.

The building has three roller shutter doors and offers truck and container access.

JLL’s Marco Chiodo and David Lidgard closed the five-year lease deal at a net annual rent of $142 a square metre.

No expenses spared

Commercial card and expense management solutions business Inlogik has expanded into bigger premises at a newly leased 979sq m office at 192 Burwood Road, Hawthorn, in Melbourne.

The company signed a three-year lease with options at a gross annual rent of $420 a square metre.

Colliers International’s Sarah Jack, Kevin Tutty and Tom Rothel acted for private landlord Porstand.

Paper rolls into Murarrie

Printing and paper business Paper Handling Equipment has leased a 900sq m office-warehouse-showroom at 33 Miller Street in Brisbane's Murarrie for five years to accommodate an expansion.

The property with parking was leased at a net annual rent of $103,000.

It has a 625sq m concrete tilt-panel warehouse with container-height electric roller door, three-phase power and a large hardstand area.

Ray White’s Jared Doyle and Jack Gwyn brokered the deal.

Submissions to stan@afr.com

SOURCE ; https://www.afr.com/property/commercial/mapletree-signs-on-two-new-tenants-over-6000sq-m-in-south-brisbane-20191111-p539gs

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