Commercial, industrial property leases in demand in south-east

FOUR new leasings of commercial and industrial space in Melbourne's south-eastern commercial quadrant have been finalised for a total starting annual lease rental of $590,000, the deals negotiated by Crabtrees Real Estate.

A corner site of 5000 sq m with a 1000 sq m showroom-warehouse at 28 Sir Laurence Drive, Seaford, has been leased to Travis Honda. The site was formerly occupied by a marine service and boat retailer. The privately owned property, which has security fencing and extensive concrete hardstand, has easy access off EastLink and Seaford Road.

Travis Honda has leased the property on a five-year, plus five-year option basis at an initial $100,000 net annual rent with 4 per cent annual rental increases.

Another property near EastLink at 897 Wellington Road, Rowville, has been leased to national business Enviropacific Services at a starting annual rent of $190,000. The property has been leased on a five-year, plus five-year option basis with 4 per cent annual rises. The new tenant will move from Keysborough.

Nearby, another office-factory at 2 Samantha Court, Rowville, comprising 325 sq m of airconditioned offices and a high-clearance warehouse of 1905 sq m, has been leased to specialty metal packaging manufacturer Marpac, which will move from Springvale. The 2230 sq m property has on-site parking. Marpac has entered into a six-year, plus five-year option lease at an indicative rate of $80 a sq m or an annual figure of $180,000.

At 1-3 Ventura Place, Dandenong South, an office-showroom-warehouse with a combined building area of 1638 sq m on 3591 sq m of land has been leased on a seven-year, plus seven-year option basis at a starting annual rent of $120,000.