Pyrmont

The Australian Council of The Arts has leased a 2072 sqm office in 'U60', the A-grade building located at 60 Union Street Pyrmont from AFIAA for $790 per sqm net. Lease term is 10 years plus a 10 years option. AFIAA has spent about $30 million on the asset and major tenants include Parkview and Star Casino. Liz Braithwaite, Savills Australia, negotiated the deal.

Sydney

LP Consulting Australia Pty Limited has leased a fully renovated 65 sqm office with partial fit-out included at Suite 1201/Level 12, 300 George Street from a private owner at $750 per sqm gross. The lease term is three years. John Skufris, Ray White Commercial South Sydney.

Glebe

The Sax Institute has leased a 1325 sqm office at 30C Wentworth Street, Glebe, from The Benevolent Society for an asking rent between $500-$600 per sqm gross. The lease term is five years. Euan Matheson & Teresa Yuen, Colliers International and the tenant was represented by Kyle Hutchin, Franklin Shanks.

Rydalmere

AusReseller Pty Ltd has leased a 1337 sqm freestanding industrial facility at 18 Pike Street from Direct Developments Pty Ltd for a rent of $145 per sqm. The lease term for the high-clearance clear-span warehouse with refurbished office accommodation is three years. Marco Chiodo and David Lidgard, JLL negotiated the deal.

Sydney

Tank Stream Labs has sub-leased a 1024 sqm office on Level 7 at 11-17 York Street Sydney from Bridge Business College under a three-year lease. Wynyard Green, comprising a two 12-storey building, is an office tower in Sydney’s CBD and includes the NSW government’s 17,000 sqm start-up hub. The rent is understood to be $895 per sqm gross. Chris Rowe of Savills Australia negotiated the deal but declined to comment on the rent.

Silverwater

DMD Foods Pty Ltd has leased a 1029 sqm modern office/warehouse at Unit 18, Slough Business Park, corner Silverwater Road and Holker Street from Goodman for $155 per sqm gross. The industrial unit with a two-level office, high clearance of 10.4m and one roller shutter door has been leased for seven years. Cathy Henderson and Rajal Chaudhary, CBRE negotiated the deal.

SALES

Kurnell

EG Funds Management has paid $36 million to Dicker Data for a 16,000 sqm building at 230 Captain Cook Drive. It is a sale and leaseback deal over two years and was sold on a passing yield of 5.8 per cent. EG Funds plan to let the lease expire and rent the buildings out in one line or up to three separate tenancies. Dicker Data also owns a huge site right next door that is DA approved for a 30,000 sqm brand new facility.  They will be using the funds from this sale to deliver that facility for themselves in 24 months. Trent Gallagher and Edward McFarland, Colliers International brokered the off-market deal.

Seven Hills

The Nasa Family Trust P/L has bought a 307.5 sqm industrial unit, comprising a warehouse of 255 sqm and an office of 52.5 sqm at 10/5 Brumby Street for $1.18 million from Vantron Pty Ltd. It is a front unit in a new development of 10 brand new units. Graeme Scott, Bawdens Industrial.

MOVERS

Mainbrace

Retail construction specialist Mainbrace has appointed experienced business, property, investment and development executive Peter Armstrong as its new general manager Victoria. Over the past 25 years, Mr Armstrong has held a string of high-profile positions within the public and private sectors, including the Victorian government, an Australian-listed real estate investment trust (AREIT) and with the Coles/Coles Myer Group, being Coles, Target, Officeworks, Coles Liquor and corporate functions.

Email submissions to ccummins@smh.com.au.