South of the city’s a hot spot – 9 May 2012

1276-m

Philip Hopkins
May 9, 2012

SOUTH Melbourne has emerged as a popular spot for tenants seeking office space
with a bit of character. Commercial Agent Lemon Baxter, active in South Melbourne
for more than 30 years, says companies are looking beyond the plain standard office
environment.

Lemon Baxter’s Richard Curtain said 154 Moray Street, which is a converted
warehouse, had four offers within a week of hitting the market, leasing for $310 per
square metre with no car park.

A three-year lease for 200 sq m of space at 2/4 Douglas Street went for $315 per sq m.
Home Living Estate did the deal within a week through Lemon Baxter. The company
will move out of its St Kilda Road premises to bigger space in South Melbourne. The
Harold Mitchell Aegis Group, with head office at 105 York Street, has expanded,
leasing 129 York Street through Nick Bade of Lemon Baxter.

Giovanni Inserra, general manager of Renascent, an office fit-out and refurbishment
specialist, said South Melbourne had many properties that allowed tenants and their
designers to build offices and studios different to the standard corporate
environment.
”Old warehouses and factories provide elements with lots of character which are
great to work with from a design perspective. Tenants are able to demonstrate more
appropriately their business culture and beliefs through the built environment,” he
said.

Landlords should understand the value in particular qualities that
warehouses/factories and old buildings provide and then showcase them in any
base building refurbishment, he said.
A new South Melbourne office building, Industry Business Hub at 87 Gladstone Street,
has also registered new sales and leases in recent months. It has studios that are
flexible spaces suitable for warehouse and showroom use.
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Read more: http://www.theage.com.au/business/property/south-of-the-citys-a-hotspot-
20120508-1yawd.html#ixzz1uMEobw93

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