A round-up of sales and leasing action around Sydney


ARTARMON

Yugan Glen Pty Ltd has leased a 403 sq m workshop/warehouse at 50 Whiting Street to Audcare car servicing for $340 per sq m gross. The lease term is five years plus a five-year option. Brad Sutton, Sutton Anderson.

LANE COVE

Direct Response Australia Pty Ltd has leased a 1662.7 sq m warehouse and office at A/31-33 Sirius Road from a private owner for $175 per sq m net. The lease term is five years with a three-year option. John Carney and Will Thredgold, Colliers International.

SYDNEY

The Grand Pavilion Indian restaurant has established a flagship fourth location in Sydney’s CBD. The restaurant has leased 315sqm of strata retail space at 261 George Street. CBRE’s James Beerworth and Leif Olson negotiated the five-year lease deal at $300,000 a year, which equates to about $952 per square metre. “The Grand Pavilion has opened its new central location, following a $1 million fitout, in answer to Sydney’s under-representation of premium Indian cuisine in the CBD,” Mr Beerworth said.

The Grand Pavilion Indian restaurant has leased new space in the Sydney CBD.Credit:Mark Merton Photography

SEVEN HILLS

Star Gate Pty Ltd has leased new, larger premises in a complex of 11 units at 7/3 Tollis Place from Papas. The site is a well-positioned corner unit with high clearance. The total area is 191 sq m, being a warehouse of 145 sq m with an office of 46 sq m, and was leased at $35,000 a year, per sq m gross for a term of three years plus a three-year option. James Zerefos, Bawdens Industrial.

SALES

ALEXANDRIA
A private investor has sold a 437 square metre industrial strata unit at Unit 13, 24-26 Burrows Road to Specialist Tunnel Excavation for $2.7 million. The property is currently occupied by Austral Interiors Pty Ltd under a short-term lease. It comprises a clear span warehouse, modern refurbished office and container height roller door, with an additional mezzanine area. Alex Sarroff and Mark Silva, Knight Frank.

ARNCLIFFE

The pre-auction sale of a former aged-care home in Arncliffe demonstrates the continuing strength of alternative assets in Australia, according to JLL. The former Alloa Aged Care facility at 34 Bayview Street sold for $2.8 million by JLL’s Simon Quinn and Dylan McEvoy ahead of the scheduled auction date. The vendor is aged-care group Hall & Prior and the purchaser is St George Care Group. The property sold with vacant possession. The 1104 sq m site is zoned R3 medium density residential and includes 33 bedrooms, eight bathrooms and a commercial kitchen.

The former Alloa Aged Care facility at 34 Bayview Street, Arncliffe

The former Alloa Aged Care facility at 34 Bayview Street, Arncliffe

REDFERN
A private commercial investor has bought a 390 sq m office/warehouse building with parking at 67 Renwick Street on behalf of The Australian Railway Historic Society for $3.5 million. The purchase was on behalf of a commercial investor who intends to re-position the asset into a creative office with a warehouse conversion feel. Alex Sarroff and Demi Carigliano, Knight Frank.

ST LEONARDS

Daniel Adams has sold a warehouse unit with an area of 362 sq m at unit 10 / 6-8 Herbert Street to Rick Edmunds for $2.15 million. Brad Sutton, Sutton Anderson.

Email submissions to ccummins@smh.com.au.

Carolyn Cummins is Commercial Property Editor for The Sydney Morning Herald.

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