SALES

Carlton

A developer has purchased a cluster of distinctive boutique offices at 16, 18 and 20 Drummond Street for $6.6 million. Knight Frank's Michael Hede, Danny Clark and Andrew Hansen brokered the deal. The building's ornate style of offices come with formal receptions, boardrooms and a combined 755 sq m net lettable area. The buildings are currently occupied by the former owner, a legal company, which will take a short term 12-month lease-back tenure.

North Melbourne

Fierce bidding from seven buyers saw a nondescript brick warehouse at 16-18 Provost Street sell under the hammer for  $1,265,000 reflecting a sharp yield of 2.07 per cent and a land rate of $5647 per sq m. Colliers International's Oliver Hay and Daniel Wolman said the property attracted 30 bids and a crowd of 80.

Ascot Vale

A two-storey shop at 153 Union Road which had been in the same family for 40 years sold for $960,000. Fitzroys' Dean Alexander and Mark Talbot said the 147 sq m building sold with vacant possession and potential for extensive renovation and improvement.

Fitzroy

A corner property at 218 Johnston Street leased to a massage business Phuket Retreat has sold for $812,500 in an off-market transaction. CVA Property Consultants' Ian Angelico and Bradley Ellul sold the property to a local investor on a yield just over a 6 per cent.

Noble Park

A rooming house with 14 separate keyed rooms, a common living room and kitchen, Three bathrooms, one shower room, four toilets, and a utility room and laundry has sold for $1.025 million. Paul Sutherland and Grant Sutherland of Sutherland Farrelly sold 44-46 Kelvinside Road at auction.

LEASES

Eltham

Bank of Melbourne Fitzroys has joined Westpac, ANZ, and the Commonwealth Bank in Eltham's main street leasing space at 968 Main Road. Fitzroy's Dean Alexander negotiated the seven-year deal at close to $500 per sq m for a 250 sq m retail space opposite the post office and Eltham railway station.

Docklands

Melbourne Osteopathic Clinic will move into a 79 sq m suite at 838 Collins Street in Lifestyle Working Collins Street, a sustainably focused office building. Colliers International's Stephanie Hawkins said the clinic was looking to establish a practice in Docklands. The group will pay gross face rent of  $460 to $500 per sq m. The firm's Adam Shirley has negotiated a string of new leases, totalling 2031 sq m, on behalf of Manhattan Investment Group in its refurbished 461 Bourke Street building. New tenants include Broadspectrum, Intrinsic Wealth Management and Maps Group who paid gross face rent of $420 per sq m. North of the city at 397-401 Albert Street in Brunswick, Marco Sandrin and Brent Glassford leased a 1000 sq m building to mobile self-storage company Taxibox for around $100 per sq m.

Footscray

English language teaching group IELTS Coaching Albion has leased a space within the key office building at 37 Albert Street. Fitzroys' Martin Huang negotiated the deal at $240 per sq m gross, including six car spaces.

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