This article is from the Australian Property Journal archive
THE United States’ number one Greek yoghurt brand, Chobani has leased a refurbished Mulgrave office in Melbourne’s south-east for its new Australian head office.
Owned by billionaire Hamdi Ulukaya, the brand signed a five-year lease with options for the 539sqm space at 333 Police Rd building at $161,000 per annum.
JLL’s Joshua Tebb and Knight Frank’s Tom Ryan brokered the deal on behalf of Melbourne-based investor Brendan Sullivan.
The space has just had a New York-style makeover, including polished concrete floors and exposed ceilings, which Sullivan said presented a point of difference in the south-east that appealed to Chobani.
“What we are seeing in the market today is a rejection of the bland office spaces delivered by cost efficiencies which, quite bizarrely, don’t allow for the fact that human beings occupy the space,” he said. “What we have created and what Chobani have chosen is a space which recognises the most important element is the occupier.”
He added that it was only recently that savvy CFO’s were beginning to have another look at staff satisfaction and the productivity that could deliver.
Sullivan purchased the never-leased 333 Police Road space when he purchased the so-called East Building, and its sister building the West Building next door, in October 2014.
“Leasing up 333 had obviously presented a real challenge to the previous owners. The space was in a great location with excellent exposure in a desirable building. All that was really required was to offer the market a desirable product,” he said.
Australian Property Journal
