Strong Demand for Space in CBD, St Kilda Rd – Jun 2011

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Several leases have shown that demand for large floor plates is strong, particularly in the CBD and St Kilda Road, according to agent Lemon Baxter.

Richard Curtain, Manager of commercial, industrial sales and leasing at Lemon Baxter, said many businesses would move to larger premises with higher rents, but there was a shortage of large premises for lease in St Kilda Road.

Energy advice retailer ServiceWorks this month leased 5,500 square metres at 457 St Kilda Road – the top four floors – on a five year lease through Lemon Baxter director, Paul O’Sullivan, in conjunction with Teska Carson.

McCain Foods has also leased a top floor – of 1,250sqm – at 616 St Kilda Road, with the balance under offer, through Lemon Baxter agent Jay Pavey.

The agency has also notched up wins in South Melbourne with plumbing supplier TradeLink.

(Crane Group) signing a lease for 1,600sqm at 280 Normanby Road, South Melbourne, for its new showroom.

AusMusic, which has taken over Allans Music and Billy Hyde, has a new home, leasing 42 Moray Street through Lemon Baxter.

This is the first time the building has been occupied since it was damaged by fire in 2008.

Source: The Age, Wednesday 8th June 2011

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